On Thursday, September 25, silver prices in the national capital surged to a lifetime high price of Rs 1,40,000 per kilogram, driven by strong global tips and investors positioned before the crucial economic data in the U.S.
Silver rally to record peaks
White metal climbed about Rs 1,000 from the previous session to touch new milestones. In the international market, modern silver earns more than 2% per ounce to $45.03, the highest level in nearly 14 years. The rise in rally is attributed to supply concerns, strong industrial demand and new safe purchases.
Focus on policy
Investor sentiment remains closely related to the Fed’s interest rate outlook. The market still expects two reductions this year to remain expected, but is stronger than expected data, including the fastest growth in new household sales since early 2022 complicates the forecast. Fed Chairman Jerome Powell warned of the challenge of balancing sticky inflation with weak labor markets. The Fed’s view on the timing and speed of cuts has made the gold and silver market volatile. Traders are waiting to release the Personal Consumer Expenditure (PCE) price index, the Fed’s preferred inflation measures, and weekly unemployment claims and GDP updates for new tips.
