New Delhi | December 17, 2025
Silver prices surged to historic highs on Wednesday, crossing the ₹2 lakh per kilogram mark in Delhi for the first time, while gold prices also recorded a strong uptick amid robust domestic and global demand.
According to the All India Sarafa Association, silver prices jumped by ₹7,300 per kg due to sustained buying interest in both domestic and international markets. In the national capital, silver soared to ₹2,05,800 per kg, compared with the previous close of ₹1,98,500 per kg.
MCX Silver Hits Record High
On the Multi Commodity Exchange (MCX), silver futures rallied sharply. The March contract surged by ₹8,179 or 4.14%, closing at ₹2,05,934 per kg, marking a new all-time high. The May 2026 contract also jumped ₹8,148 or 4.06% to touch a record ₹2,08,796 per kg.
Market analysts attributed the rally to strong global prices, indications of supply tightness, and expectations of interest rate cuts by the US Federal Reserve next year.
Gold Prices Rise in Domestic Markets
In the local bullion market, gold prices climbed ₹600 to ₹1,36,500 per 10 grams (inclusive of all taxes), compared to the previous close of ₹1,35,900.
On MCX, gold futures for February delivery rose ₹169 or 0.13% to ₹1,34,578 per 10 grams, while the April 2026 contract gained ₹273 or 0.2% to reach ₹1,37,683 per 10 grams.
Global Gold and Silver Trends
In international markets, spot gold advanced $18.59 or 0.43% to $4,321.06 per ounce. Spot silver crossed the $66 per ounce mark for the first time, rising $2.77 or 4.35% to a new record high of $66.52 per ounce.
US Data Fuels Safe-Haven Demand
International investment consultant Ratnam Chandra said gold prices gained momentum after US jobs data showed a rise in unemployment in November, strengthening expectations of further interest rate cuts by the Federal Reserve. This put pressure on the dollar and bond yields, supporting precious metals.
He added that rising backwardation in silver markets signals a supply crunch, which helped prices hit record levels early in the session.
Investors Await Key US Inflation Data
Market participants are now closely watching key US inflation data due later this week, including the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE) figures. Analysts say these indicators will provide clearer signals on the Fed’s policy outlook and the near-term direction of gold and silver prices.
