Silver hits record high of Rs 1.40 lakh/kg amid strong global cues

New Delhi: Silver prices rallied Rs 1,000 to touch a fresh peak of Rs 1.40 lakh per kilogram level in the national capital on Thursday, tracking strong global cues, according to the All India Sarafa Association.

The white metal had settled at Rs 1,39,000 per kg in the previous market session.

In the local bullion market, gold of 99.9 per cent purity declined by Rs 630 to Rs 1,17,370 per 10 grams (inclusive of all taxes). The yellow metal had closed at Rs 1,18,000 per 10 grams in the previous trade.

The precious metal of 99.5 per cent purity depreciated from Rs 700 to Rs 1,16,700 per 10 grams (inclusive of all taxes) on Thursday. It had ended at Rs 1,17,400 per 10 grams on Wednesday, as per the association.

In the international markets, spot gold rose by USD 21.40, or 0.57 per cent, to USD 3,757.54 per ounce.

Spot silver rose more than 2 per cent tohit a highof USD 45.03 per ounce, hovering near a 14-year high as investors are awaiting key US jobs and inflation data to shape the Federal Reserve's policy outlook.