India, Jan. 24 -- Gold and silver prices rallied on Friday to hit fresh lifetime highs in the futures trade, tracking record gains in international markets amid a weakening US dollar and rising expectations ofinterest rate cuts by the Federal Reserve.On the Multi Commodity Exchange (MCX), the March contract of silver soared by INR 12,638, or nearly 4 per cent, to scale a new peak of INR 3,39,927 per kg. Silverfutures in the previous session on Wednesday had touched a record high of INR 3,35,521 per kg.

Gold also scaled a fresh lifetime high, advancing for the fifth straight day. The yellow metal for February delivery jumped by INR 2,885, or 1.84 per cent, to INR 1,59,226 per 10 grams on the MCX.It had settled at INR 1,56,341 per 10 grams...