Silver Soars to New High on Fed Rate Cut & Tech Demand

• Silver prices hit a new high on December 11, driven by a 25 bps Fed rate cut and increased tech sector demand.
• The precious metal traded around $62 per ounce in the spot market and opened at Rs 1,92,408/kg in domestic futures.
• Silver saw significant gains, rising 8.58% in a week and 21.09% in a month.
• Analysts attribute the surge to the Fed's cautious rate cut and anticipation of healthier global manufacturing trends.
• City-wise prices show slight variations, with 1 kg of pure silver ranging from approximately Rs 1,99,000 to Rs 2,07,000.

Why It Matters: Silver's record high due to Fed rate cut and demand impacts investments and consumer costs.