Silver hit fresh peak of Rs 1,16,729 a kg in futures trade

New Delhi, Aug 26 (PTI) Silver prices on Tuesday rallied Rs 779 to hit an all-time high of Rs 1,16,729 per kg in futures trade in line with firm global trends.

On the Multi Commodity Exchange, the white metal for September delivery jumped by Rs 779 or 0.67 per cent to hit a record high of Rs 1,16,729 per kg in the morning trade.

Later, it pared some of its gains to trade at Rs 1,16,244 per kg, up by Rs 294, or 0.25 per cent, with an open interest of 12,587 lots.

According to commodity market experts, silver prices hit a lifetime high in the futures market as traders ramped up safe-haven buying amid mounting global trade tensions and rising expectations of an interest rate cut by the US Federal Reserve at its September policy meeting.

In the international markets, Comex silver futures traded flat at USD 39.21 per ounce in New York. PTI HG HG MR