Silver prices in the national capital surged to a lifetime high of Rs 1,40,000 per kilogram on Thursday, September 25, driven by strong global cues and investor positioning ahead of crucial US economic data.
Silver rallies to record peak
The white metal climbed by about Rs 1,000 from the previous session to touch the new milestone. In international markets, spot silver gained over 2 per cent to USD 45.03 per ounce, its highest level in nearly 14 years. The rise in the rally is attributed to supply concerns, strong industrial demand and renewed safe-haven buying.Â
Fed policy in spotlight
Investor sentiment remains closely tied to the Federal Reserve’s rate outlook. Markets are still anticipating on two rate cuts this year, but stronger-than-expected US data, including the fastest rise in new-home sales since early 2022 has complicated forecasts. Fed Chair Jerome Powell has warned of the challenge in balancing sticky inflation with a weakening labour market. Divergent views within the Fed over the timing and pace of cuts have kept bullion markets volatile. Traders are awaiting the release of the Personal Consumption Expenditure (PCE) price index, the Fed’s preferred inflation measure, along with weekly jobless claims and GDP updates, for fresh cues.
