Silver prices surged by ₹7,100 to ₹2.40 lakh per kg in futures trade on Thursday amid firm trends in the international markets after the US Federal Reserve kept its benchmark interest rates unchanged.

On the Multi Commodity Exchange, the May contract of the metal soared by ₹7,100, or 3.04 per cent, to ₹2,40,300 per kilogram in a business turnover of 509 lots.

Similarly, the July contract also advanced by ₹5,488, or 2.3 per cent, to ₹2,43,742 per kg in 7,635 lots.

Analysts said precious metals gained in global markets after the US Fed maintained a status quo on rates for the third straight meeting, supporting domestic metal prices.

In the overseas market, Comex silver futures for June gained $1.79, or 2.49 per cent, to $73.88 per ounce in New York.

The US central bank said, "In support of its goals, the committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent.

Umesh Sharma, CIO- Debt at The Wealth Company, said the Federal Open Market Committee delivered a widely expected hawkish pause, keeping the policy rate unchanged while reinforcing its inflation-first stance.

He said the decision suggests policymakers remain concerned over stalled disinflation and upside risks arising from factors such as energy prices.

Meanwhile, Jerome Powell said he will step down as Chair at the end of his term but continue as a Fed Governor, signalling continuity during the transition.

Published on April 30, 2026