Silver surges Rs 32,000; gold soars by Rs 8,100

New Delhi: Precious metal prices skyrocketed up to 12 per cent in the national capital, with silver surging to Rs 3 lakh per kilogram, while gold nearing Rs 1.73 lakh per 10 grams as investors flocked to safe-haven assets following an escalation of hostilities in the Middle East. According to the All India Sarafa Association, the white metal surged by Rs 32,000, or 11.94 per cent, to Rs 3,00,000 per kg from Friday’s closing level of Rs 2,68,000 per kg.In the bullion market, price of gold of 99.9 per cent purity climbed Rs 8,100, or 4.92 per cent, to Rs 1,72,800 per 10 grams. It had settled at Rs 1,64,700 per 10 grams in the previous market session. “Gold and silver prices witnessed a sharp surge on Monday, as rising geopolitical tensions in the Middle East triggered aggressive safe-haven buying.”