New Delhi, Dec 24 (PTI) Silver prices surged Rs 9,750 to hit a new record of Rs 2,27,000 per kilogram in the national capital on Wednesday, even as the white metal breached the USD 72 per ounce-mark in overseas markets, according to the All India Sarafa Association.

On Tuesday, the metal had settled at Rs 2,17,250 per kg.

"Spot silver crossed the USD 72 level as the bullion prices hit record highs in the international markets," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

During the calendar year, the white metal has risen by Rs 1,37,300, or 153.06 per cent, from Rs 89,700 per kilogram recorded on December 31, 2024.

Gandhi further stated that a weak US dollar, expectations of dovish monetary policy from the US Federal Reserve, and ongoing geopolitical tensions continue to act as tailwinds for the precious metal.

Meanwhile, the precious metal of 99.9 per cent purity retreated from a record high in the local bullion market by a tad and traded lower by Rs 50 at Rs 1,40,800 per 10 grams (inclusive of all taxes) against the previous close of Rs 1,40,850 per 10 grams on Tuesday.

In the international markets, spot gold crossed the USD 4,500 per ounce-mark for the first time by rising USD 41.18, or 0.92 per cent, to USD 4,525.96 per ounce.

"Spot gold reached a fresh record high of USD 4,525 per ounce in the Asian session as the US dollar remains on defensive," Praveen Singh, Head of Commodities and Currencies, Mirae Asset ShareKhan, said.

In the last four sessions, the precious metal has risen by USD 186.46, or 4.3 per cent, from the closing price of USD 4,339.50 on December 19, 2025.

So far this year, the metal has added USD 1,920.19, or 73.7 per cent, from USD 2,605.77 per ounce recorded on December 31, 2024.

Extending the gains for the fourth consecutive day, spot silver went up by USD 1.22, or 1.71 per cent, to hit a fresh high of USD 72.70 per ounce in the overseas trade.

"Spot silver rose to hit record USD 72 per ounce, setting new records, fuelled by anticipation of further monetary policy easing by the US Federal Reserve and increased geopolitical tensions," Renisha Chainani, Head - Research at Augmont, said.

In the past four sessions, the white metal has risen by USD 5.56, or 8.3 per cent, from USD 67.14 per ounce recorded on December 19, 2025.

So far this year, silver prices have surged by USD 43.73, or 151 per cent, recorded on December 31, 2024.

"The rising tensions between the US and Venezuela have boosted safe-haven flows into the bullion prices. Further, US Q3 GDP data failed to strengthen the US dollar despite increased bets on two Fed rate cuts in 2026," Chainani said. PTI HG HVA

Silver prices hit record highs amid a weak dollar, Fed easing expectations and rising geopolitical tensions globally. Silver surged to record international and local levels-USD 72.70 per ounce and Rs 2,27,000 per kilogram in Delhi-after strong multi session gains and a year to date rise of roughly 151-153 percent. Analysts attribute the advance to a weak US dollar, expectations of Fed monetary easing, and geopolitical tensions driving safe haven demand; the report also records spot gold reaching about USD 4,525.96 per ounce and notes local 99.9% purity retail quotations with minor intra session movement.