Silver jumps Rs 5,000 to hit fresh peak of Rs 2.56 lakh per kg in Delhi markets
New Delhi (PTI): Silver prices surged by Rs 5,000 to hit a new record of Rs 2,56,000 per kilogram in the national capital on Wednesday, amid strong safe-haven demand and robust industrial buying, according to the All India Sarafa Association.
The white metal closed at Rs 2,51,000 per kilogram on Tuesday.
Traders said that escalating tensions between the US and Venezuela have boosted safe-haven appeal, while supply-side constraints and strong industrial usage further amplified the silver prices.
"Silver prices were also driven by sustained buying by the investors and China's export curbs on silver that came into effect from January 1," an expert said.
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Meanwhile, the price of gold of 99.9 per cent purity slipped marginally by Rs 100 to Rs 1,41,400 per 10 grams (inclusive of all taxes), compared to the previous close of Rs 1,41,500 per 10 grams.
"Gold prices experienced a slight decline on Wednesday as investors took profits following a recent rally," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
He added that a recovery in the US dollar also weighed on gold prices, though persistent geopolitical risks continue to support safe-haven demand for precious metals, which is limiting sharp downside.
In the international market, spot gold fell by USD 45.22, or 1.01 per cent, to USD 4,449.87 per ounce.
Spot silver was trading lower by USD 2.55, or 3.15 per cent, to USD 78.69 per ounce. During the session, the white metal climbed by USD 1.45, or 1.8 per cent, to hit an intraday high of USD 82.75 per ounce in the overseas trade.
Renisha Chainani, Head - Research at Augmont, said, "We could see some profit booking from here, but when it breaks the previous top again, the next level to watch for is USD 84 (Rs 2,66,000 per kg) and USD 88.5 (Rs 2,80,000 per kg)."
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Nine dead as fire breaks out in residential building in east Delhi
New Delhi (PTI): A fire broke out in a residential building in east Delhi's Vivek Vihar early Sunday, leaving nine people belonging to two families dead, including a toddler, officials said.
The incident was reported around 3.48 am at a four-storey building in Vivek Vihar Phase-I, following which police, fire and disaster management teams rushed to the spot.
According to the police, the blaze engulfed flats on the second, third and fourth floors of the building, prompting a large-scale rescue operation.The cause of the fire is yet to be ascertained.
The Delhi Fire Service (DFS) said nine charred bodies were recovered from different floors.
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"One body was recovered from the first floor, five from the second floor and three from the staircase which was found locked," the DFS officer said.
Those found dead on the second floor have been identified as Arvind Jain (60), his wife Anita Jain (58), son Nishant Jain (35), daughter-in-law Anchal Jain (33) and grandchild Akash Jain.
On the third floor, three members of a family were found dead. They were identified as Nitin Jain (50), wife Shailey Jain (48) and son Samyak Jain (25).
On the first floor a woman identified as Shikha Jain (45) was found dead while her husband Naveen Jain (48) sustained injuries.
A senior police officer said, "Around 10 to 15 people were rescued from the premises during the firefighting operation. Two of them, who sustained minor injuries, were shifted to the Guru Teg Bahadur Hospital."
A total of 12 fire tenders were pressed into service to douse the flames, while teams from the Delhi Disaster Management Authority (DDMA), traffic police and local police assisted in the rescue and evacuation efforts.
Police said the fire was brought under control after several hours. Efforts are underway to determine the cause of the fire, police said.
Further investigation and proceedings are underway.
