Silver defies gravity; hits another record of Rs 2.92 lakh/kg in Delhi
New Delhi (PTI): Silver price extended its record-setting rally for the sixth straight day by rising Rs 3,600 to Rs 2,92,600 per kg in the national capital on Friday amid sustained buying by stockists, according to the All India Sarafa Association.
However, gold of 99.9 per cent purity retreated from its all-time high level and declined by Rs 1,100 to Rs 1,46,200 per 10 grams (inclusive of all taxes) from Rs 1,47,300 per 10 grams in the previous session.
Silver had closed at Rs 2,89,000 per kilogram on Thursday.
Traders said silver remained resilient on the back of persistent industrial offtake, shrugging off weak global trends.
The white metal has now climbed 20.16 per cent, or Rs 49,100, in just six sessions, up from Rs 2,43,500 per kilogram on January 8.
Silver continues to outpace gold for the second consecutive year, delivering 22.4 per cent returns.
Meanwhile, spot gold and silver extended their decline for the second straight day in the international markets, with prices dipping amid a stronger US dollar and fading geopolitical risk premium after reduced tensions in the Middle East.
Spot gold fell by USD 12.46, or 0.27 per cent, to USD 4,603.51 per ounce.
"Spot gold is trading 0.25 per cent down at around USD 4,606 per ounce. The yellow metal is under pressure as the US strike on Iran has been averted," Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, said.
Spot silver fell 2.26 per cent, or USD 2.08, to USD 90.33 per ounce on Friday.
In the previous session, the white metal had increased to a fresh record of USD 93.57 per ounce before plunging nearly 8 per cent to an intraday low of USD 86.30 per ounce after the US administration refrained from imposing an import tax on silver and other critical metals.
The metal had settled at USD 92.34 per ounce on Thursday.
"Precious metals eased on Friday after touching record highs earlier in the week, pressured by a firm US dollar and reduced expectations of an imminent Federal Reserve interest rate cut," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
He added that underlying fundamentals remain supportive for the precious metals, with gold benefiting from persistent global economic uncertainty and central bank buying, while silver continues to draw strength from industrial demand, particularly from the green energy and electronics sectors.
However, strong US jobs data boosted the dollar, triggering near-term profit-taking across precious metals, Garg said.
"We remain constructive on the medium to long-term outlook, especially for silver, citing ongoing supply deficits and accelerating industrial consumption as factors that could drive prices to fresh highs despite short-term volatility.
"In the Indian market, bullion prices also hovered near record levels, supported by currency dynamics," he added.
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Health Minister Dinesh Gundu Rao criticizes Centre for steep hike in commercial LPG price
Bengaluru: Karnataka Health Minister Dinesh Gundu Rao has slammed the BJP government in the Centre for the hike in the price of commercial LPG, saying the sudden rise of the fuel rate by Rs 993 a cylinder has hit the common man hard.
Critically commenting that this was expected of the Centre after elections to five states, Rao posted in Kannada on his ‘X’ account on Saturday that the people have been shown only the trailer and, the real struggle is yet to begin.
“Since there is no election in any state, there will certainly be major hikes in the rates of petrol, diesel and domestic LPG in barely a few days,” he has predicted.
The minister has further tweeted, “The rate of commercial LPG has gone up to Rs 3,152 per cylinder, which will hit the hotel industry greatly. Ironically, the direct impact of the hike will be on customers of hotel.”
He pointed out that, earlier, the price used to be hiked by approximately Rs 50 and Rs 100 a cylinder. “This time, the rate has been shot up by Rs 993. What do we call this except daylight robbery? Can this be the ‘Acche Din’ that the BJP has been promising?” Rao asked mockingly.
He also questioned the cause for BJP members’ silence for the rate hike, reminding that the party always ‘threw a tantrum’ when a non-BJP government does so even at a minor level. “Does this reflect their fear of ‘Vishwaguru’ Modi? Is it the party’s sheer disregard for the welfare of the people?” he has questioned.
ಊಹಿಸಿದಂತೆಯೇ ಪಂಚರಾಜ್ಯ ಚುನಾವಣೆ ಬಳಿಕ ಕೇಂದ್ರ ಸರ್ಕಾರ ಬೆಲೆಯೇರಿಕೆಯ ಛಾಟಿ ಬೀಸಲು ಪ್ರಾರಂಭಿಸಿದೆ. ಕಮರ್ಷಿಯಲ್ ಸಿಲಿಂಡರ್ ಬೆಲೆಯನ್ನು ಏಕಾಏಕಿ ₹993 ಏರಿಸುವ ಮೂಲಕ ಮರ್ಮಘಾತ ನೀಡಿದೆ. ಚುನಾವಣೆ ಮುಗಿದ ಕೂಡಲೇ ಬೆಲೆಯೇರಿಕೆ ನಿರೀಕ್ಷಿತವಾಗಿತ್ತು. ಆದರೆ ಒಂದೇ ಭಾರಿ ₹993 ಹೆಚ್ಚಳ ಮಾಡಿರುವುದು ಅನಿರೀಕ್ಷಿತದ ಜೊತೆಗೆ ಆಘಾತ ತಂದಿದೆ.…
— Dinesh Gundu Rao/ದಿನೇಶ್ ಗುಂಡೂರಾವ್ (@dineshgrao) May 2, 2026
