New Delhi, Dec. 1 -- Silver prices jumped over 2% to a fresh record high on the Multi Commodity Exchange of India (MCX) on Monday, along with a rally in gold, amid gains in global bullion markets. The upmove was driven by a weaker US dollar and rising expectations of further interest rate cuts by the US Federal Reserve.

MCX silver rate jumped as much as 2.09% to Rs.1,78,649 per kg, while MCX gold price in India rallied 0.99% to Rs.1,30,794 per 10 grams.

At 1:30 PM, MCX silver price was up by Rs.2,629, or 1.50%, at Rs.1,77,610 per kg, while MCX gold rate was trading higher by Rs.1,407, or 1.09%, at Rs.1,30,911 per 10 grams.

In the international market, spot silver price rose 1.1% to $56.99 per ounce after hitting an all-time high of $57...