New Delhi, Jan. 28 -- Both gold and silver continued to trade higher during Wednesday's session, supported by a sustained drop in the US Dollar Index, making the dollar-priced commodities less expensive for holders of other currencies.

After surging past Rs.1,662 per 10 grams in the previous session, February gold futures opened higher at Rs.1,59,900 per 10 grams and maintained momentum to hit a fresh record high of Rs.1,64,900 (7,201 higher), crossing the 1.64 lakh mark for the first time. The rally also contributed to a 21% gain in January so far.

In an even more stellar rise, silver March futures gained Rs.26,821 per kilogram to reach another historic high of Rs.3,83,100, edging closer to the Rs.4 lakh mark and breaking analysts' pro...