Extending the gains for the fifth straight day, silver futures for March delivery surged by Rs 24,434, or 6.34 per cent, to a new record of Rs 4,09,800 per kilogram. In the last five trading sessions, the white metal had surged Rs 91,308, or nearly 29 per cent, from Rs 3,18,492 per kg (closing price) recorded on January 21. The rally in silver prices has been swift, with the white metal climbing from Rs 3 lakh to Rs 4 lakh within just eight trading days. Silver futures on the Comex also crossed the USD 120 per ounce mark for the first time in overseas trade. The white metal for March delivery rose USD 7.03, or 6.2 per cent, to hit a record of USD 120.56 per ounce.