Gold prices surged in futures trading due to escalating US-Iran tensions, driving demand for the safe-haven asset.
Silver and gold prices snapped a two-day rebound and declined sharply up to 10 per cent in the futures trade on Thursday amid weak trends in the international markets and a strong US dollar.
Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 265,000 per kg in the national capital on Monday, and gold advanced to a fresh record of Rs 144,600 per 10 grams, mirroring strong gains in the global markets.
Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association. Rallying for the sixth straight session, gold of 99.5 per cent purity appreciated by Rs 630 to hit a lifetime high of Rs 82,330 per 10 grams.
The current bear run has already been the second longest since 1975.
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