New Delhi / Mumbai / Ahmedabad, December 13, 2025
In a dramatic rally on Friday, silver prices surged past the ₹2 lakh per kilogram mark, hitting fresh record highs on the futures market as strong investor demand and global trends bolstered precious metal valuations. At the Multi-Commodity Exchange (MCX), the March silver futures contract climbed above ₹2,01,388/kg before settling around ₹2,00,462/kg, marking an unprecedented peak for the white metal. Retail silver prices also saw sharp gains, with local rates rising close to ₹1.95 lakh/kg in some markets. Gold prices also rallied strongly alongside silver, with 24-carat gold futures reaching approximately ₹1,37,000 per 10 grams, extending a multi-week uptrend driven by safe-haven buying, a weaker Indian rupee and elevated global bullion prices.
A softer rupee against the US dollar made imports costlier, pushing domestic gold and silver prices higher.
International markets saw spot silver climb to near record levels above $60 per ounce, reflecting tightening supply and strong demand from both industrial users and investors. Investment Demand: Renewed investor interest in precious metals as hedges amid economic uncertainty has added fuel to the rally. Market analysts note that silver’s breakout above ₹2 lakh/kg highlights both its appeal as a safe haven and its growing industrial demand, especially in sectors like electronics and solar energy. While some volatility is expected in the short term, expectations remain bullish for precious metals into early 2026.
