New Delhi, June 10: Silver prices continued their upward momentum on Monday, reaching a new lifetime high in the domestic market. The sharp rise was driven by strong global cues, increased industrial demand, and a weak US dollar.
After remaining flat over the weekend, silver prices rose significantly, reflecting global market optimism and robust demand from key sectors like electric vehicles and solar energy. The metal has also attracted investor interest as a safe-haven asset amid ongoing geopolitical uncertainties.
In contrast, gold extended its decline for the second consecutive session. Prices of both 99.9% and 99.5% purity gold dipped further, continuing a trend seen in the previous session where the yellow metal had already recorded a steep fall.
Internationally, silver climbed to a 13-year high, while gold prices showed only marginal gains. The divergence in performance is attributed to strong US economic data, which is influencing expectations around future interest rate decisions by the Federal Reserve.
The domestic market reflects this global sentiment, with silver showing stronger gains than gold. Analysts are closely watching macroeconomic indicators and policy signals, which will likely guide the next phase of movement in precious metal prices.
Be the first to comment