MUMBAI, India — December 26, 2025 —
In a spectacular finish to the trading week, precious metals unleashed a powerful rally on the Multi Commodity Exchange (MCX), with silver futures shattering records at ₹2,32,741 per kilogram and gold futures vaulting past the psychological ₹1.39 lakh barrier for the very first time.
March 2026 silver contracts rocketed ₹8,951 higher — a staggering near-4% gain — in the fifth consecutive session of advances. The white metal has now surged an impressive ₹29,176, or 14.33%, since December 18 alone.
Meanwhile, February gold futures climbed ₹1,119, or 0.81%, to settle at an unprecedented ₹1,39,216 per 10 grams, marking its fourth straight day of gains. Trading had paused Thursday for Christmas.
The domestic frenzy echoed explosive moves in international markets, where spot silver topped $75 per ounce and COMEX gold futures neared levels beyond $4,500 per ounce.
Market experts point to a perfect storm fueling the breakout: persistent global uncertainties driving safe-haven inflows, a softening US dollar amid expectations of additional Federal Reserve interest rate cuts in 2026, and lingering concerns over potential US government shutdown risks.
Central banks and institutional investors have accelerated purchases of both gold and silver throughout 2025, viewing them as reliable hedges against geopolitical tensions and inflationary pressures. Silver’s outperformance has been amplified by recovering industrial demand in sectors like electronics and solar energy.
As the year draws to a close, the precious metals bull run shows no signs of abating, leaving traders and investors eyeing even higher levels in the new year.
