Silver prices surged to record highs on Monday, with futures on the MCX reaching ₹2,54,174 per kilogram and global prices crossing $80 per ounce. This rally, extending for a sixth consecutive session, is attributed to strong investor demand, expectations of U.S. Federal Reserve rate cuts, and potential Chinese export restrictions. Despite a sharp intraday retreat from peaks due to profit-booking, silver's performance this year is on track for its best annual gain since 1979.