<p>New Delhi, Silver scaled uncharted territory on Friday and surged Rs 1,668 to hit a fresh peak of Rs 1,30,000 per kilogram in the domestic futures market for the first time, as investors rushed to the white metal on strong bets of a US Federal Reserve rate cut next week.</p>.<p>On the Multi Commodity Exchange (MCX), silver futures for March next year delivery soared Rs 1,668 or 1.3 per cent to hit a lifetime high of Rs 1,30,000 per kg.</p>.<p>The most traded December delivery also rallied 1,674 or 1.32 per cent to hit an all-time high of Rs 1,28,612 per kg on the MCX.</p>.<p>Globally, silver futures for December delivery rose 1.52 per cent to USD 42.79 per ounce, scaling a fresh 14-year high.</p>.<p>"Silver climbed 1 per cent on Friday, marking a new 14-year high as firm expectations of a Federal Reserve rate cut next week supported buying," said Jigar Trivedi, Senior Research Analyst at Reliance Securities.</p>.<p>Trivedi added that strong industrial demand from solar, electric vehicles and electronics has kept the physical silver market tight against a backdrop of persistent supply constraints.</p>.<p>"Markets are now pricing in about a 93 per cent chance of a 25 basis-point interest cut at the US Federal Reserve's September 17 policy meeting, with odds of a larger half-point move edging higher. Safe-haven demand further underpinned white metal amid ongoing geopolitical tensions," he said. </p>
<p>New Delhi, Silver scaled uncharted territory on Friday and surged Rs 1,668 to hit a fresh peak of Rs 1,30,000 per kilogram in the domestic futures market for the first time, as investors rushed to the white metal on strong bets of a US Federal Reserve rate cut next week.</p>.<p>On the Multi Commodity Exchange (MCX), silver futures for March next year delivery soared Rs 1,668 or 1.3 per cent to hit a lifetime high of Rs 1,30,000 per kg.</p>.<p>The most traded December delivery also rallied 1,674 or 1.32 per cent to hit an all-time high of Rs 1,28,612 per kg on the MCX.</p>.<p>Globally, silver futures for December delivery rose 1.52 per cent to USD 42.79 per ounce, scaling a fresh 14-year high.</p>.<p>"Silver climbed 1 per cent on Friday, marking a new 14-year high as firm expectations of a Federal Reserve rate cut next week supported buying," said Jigar Trivedi, Senior Research Analyst at Reliance Securities.</p>.<p>Trivedi added that strong industrial demand from solar, electric vehicles and electronics has kept the physical silver market tight against a backdrop of persistent supply constraints.</p>.<p>"Markets are now pricing in about a 93 per cent chance of a 25 basis-point interest cut at the US Federal Reserve's September 17 policy meeting, with odds of a larger half-point move edging higher. Safe-haven demand further underpinned white metal amid ongoing geopolitical tensions," he said. </p>