Indian gold and silver hit record highs

Gold and silver futures in India surged to record levels in early trading on Thursday, driven by strong gains in global markets and a weakening rupee.

Domestic gold futures jumped 6 percent to an all-time high of 175,869 rupees per 10 grams. Silver futures also climbed 6 percent, reaching a record 407,456 rupees per kilogram, according to market dealers, News.Az reports, citing Reuters.

Analysts said the rally followed rising international precious metal prices, while the rupee’s slide to near historic lows further boosted domestic rates by increasing import costs.

Market participants expect volatility to continue as global economic uncertainty and currency movements remain key drivers of precious metal demand.

News.Az 

By Aysel Mammadzada