New Delhi, Jan 15 (PTI) Silver prices extended their record-breaking run, jumping Rs 3,000 to hit a record of Rs 2,89,000 per kg in the national capital on Thursday, while gold advanced to a new peak of Rs 1,47,300 per 10 grams amid sustained buying by stockists and jewellers, according to the All India Sarafa Association.

Extending gains for the fifth consecutive day, the white precious metal increased Rs 3,000, or 1.05 per cent, to hit a fresh peak of Rs 2,89,000 per kilogram (inclusive of all taxes). It had closed at Rs 2,86,000 per kg on Wednesday.

With the latest rise, silver has jumped nearly 16 per cent, or Rs 45,500, over the past five sessions, up from Rs 2,43,500 per kg on January 8.

The white metal has continued to outpace gold for the second consecutive year, delivering 21 per cent returns so far and adding Rs 50,000 from Rs 2,39,000 per kg recorded on December 31, 2025.

In addition, gold prices continued their upward march for the fifth straight day, rising Rs 800 to a fresh record of Rs 1,47,300 per 10 grams (inclusive of all taxes) on Thursday. It had ended at Rs 1,46,500 per 10 grams in the previous session.

The yellow metal has gained Rs 9,600, or about 7 per cent, since the start of 2026.

Traders attributed the sustained rally in domestic bullion prices to persistent buying from jewellers, stockists, and retail consumers despite subdued trends in international markets.

Rajkumar Subramanian, Head, Products and Family Offices, PL Wealth Management, said silver is emerging as one of the most compelling strategic metals in the current cycle, sitting at the intersection of investment demand and industrial transformation.

"In India, this dual character is even more pronounced. Beyond its traditional role as a store of value, silver is increasingly driven by structural demand from solar energy, electronics, electric mobility and advanced manufacturing. As India accelerates its renewable and infrastructure ambitions, silver's industrial relevance strengthens its long-term price support," Subramanian added.

He added that rising retail participation and growing interest from HNI and family capital are positioning silver as a portfolio diversifier alongside gold.

"However, investors must remain mindful that silver is inherently more volatile than gold, with sharper price swings driven by global growth expectations, dollar movements and speculative flows. It is best approached with disciplined allocation and a medium- to long-term perspective," he said.

Meanwhile, both gold and silver saw mild corrections in the international markets after retreating from their record highs.

Silver dropped USD 1.98, or 2.13 per cent, to USD 91.20 per ounce, after touching a record of USD 93.52 per ounce on Wednesday.

Spot gold also slipped USD 12.22, or 0.26 per cent, to USD 4,614.45 per ounce in the overseas trade. It had scaled a fresh record of USD 4,643.06 per ounce in the previous session.

"Gold remains relatively resilient, hovering around the USD 4,600 per ounce-mark after traders booked profits," Gaurav Garg, Research Analyst at Lemonn markets desk, said.

The near-term consolidation appears to be driven by the latest Producer Price Index (PPI) data, which has widened the gap between Consumer Price Index and PPI readings.

This divergence suggests that producers are struggling to pass on higher input costs, raising concerns about margin pressure and tempering expectations of imminent rate cuts by the US Federal Reserve, Garg added.

"As a result, metals have paused their upward momentum, though the broader structural outlook remains supportive amid macro and geopolitical uncertainties," he said. PTI HG TRB