Delhi. In futures trade, the price of silver crossed a record high of Rs 4 lakh per kg on Thursday, while the price of gold reached an all-time high of Rs 1.8 lakh per 10 grams. Strong demand from investors was the main reason for the rise.

On the Multi Commodity Exchange (MCX), silver futures for delivery in March hit an all-time high of Rs 4,07,456 per kg, up by Rs 22,090, or 5.73 per cent. There was also a rise in the futures price of gold. On MCX, the price of February delivery contracts rose by Rs 14,586, or 8.8 per cent, to a new record high of Rs 1,80,501 per 10 grams.

In the international market, the futures price of gold on the COMEX market crossed the US $ 5,600 per ounce mark for the first time. The price of gold delivered in April rose by $286.6, or 5.4 percent, to a new record high of $5,626.8 an ounce. There was also a rise in the futures price of silver in the Comex market and it reached a new record level of $ 119.51 an ounce.

Analysts say pick up in industrial demand and weak US dollar provided further support to silver which has been outperforming gold in recent sessions. He said gold prices continued to rise due to continued safe-haven buying by traders amid economic uncertainties and rising geopolitical tensions.

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