Gold and silver rate today: Silver surged to a record high of Rs 1,04,100 per kg in Delhi markets on Thursday, while gold prices also firmed up sharply, driven by strong global cues and a weaker dollar.According to the All India Sarafa Association, silver prices continued their rally for the fourth straight session, jumping Rs 2,000 to scale a lifetime peak. The quoted price is inclusive of all taxes, PTI reported.“The price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand, inflation hedging, and tight global supply,” said Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities.The previous all-time high for silver was Rs 1,03,500 per kg, recorded on March 19.Gold also saw firm upward movement. The price of gold of 99.9% purity rose Rs 430 to Rs 99,690 per 10 grams, while gold of 99.5% purity gained Rs 400 to Rs 99,100 per 10 grams, both inclusive of all taxes.Silver futures for July delivery rallied by Rs 3,833, or 3.78%, to touch a lifetime high of Rs 1,05,213 per kg on the Multi Commodity Exchange (MCX).Looking ahead, Rahul Kalantri, Vice President (Commodities) at Mehta Equities, said the metal could climb further. “The metal might reach around Rs 1,14,000 to Rs 1,20,000 per kg by this Diwali, but investors should brace for a bumpy ride ahead as market volatility remains high amid global uncertainties,” he said.Gold futures for the August contract also gained Rs 635 to reach Rs 99,214 per 10 grams.“Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns,” said Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities. He noted that global gold prices had scaled above $3,395 per ounce, while MCX gold traded above Rs 98,450.Spot gold in international markets rose by $21.58, or 0.64%, to $3,393.93 per ounce. Spot silver jumped nearly 4% to $35.80 per ounce.“Spot silver has surpassed the previous resistance level of $35 per ounce and is trading above that mark, reaching a 12-year high,” added Gandhi.Chintan Mehta, CEO of Abans Financial Services, said investor focus is now on the upcoming US non-farm payroll report, which may offer cues on the Federal Reserve’s next move. “Any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold,” he added.