Gold prices soar to record high of ₹1.38 lakh/10g, silver skyrockets to new peak of ₹2,14,500/kg

Gold rates (24K, 99.9% purity) on Monday, December 22, touched another lifetime high of ₹1,38,200 per 10 gram, rising by ₹1,685 in Delhi on the back of firm global trends, according to the All India Sarafa Association.

As compared to ₹78,950 per 10 gram on December 31, 2024, the yellow metal has risen over 75% in just 2025. 

Silver prices also skyrocketed to a fresh peak, rising by as much as ₹10,400 per kg to ₹2,14,500 per kg in Delhi. When compared to ₹89,700 per kg recorded on December 31, 2024, silver is up 139.13%.

In the overseas markets, spot gold added $80.85 (1.86%) to reach a record high of $4,420.35 per ounce. Meanwhile, spot silver advanced $2.31 (3.44%) to touch a lifetime high of $69.45 per ounce in the overseas markets, hovering near the $70 per ounce mark. 

Even in the international markets, silver has risen by 139.7%, increasing from $28.97 per ounce at the end of 2024 to over $69 per ounce currently. 

As interest rates are falling in the US, with rising fiscal concerns, investor interest in bullion is consistently increasing. 

Gold and silver are safe-haven assets, which means they grow during geopolitical tensions, market volatility and uncertain situations. 

"Mining disruptions and limited current silver inventories are causing severe supply shortfalls, driving prices higher,” a PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying. 

"A weak dollar is expected to continue to boost speculator demand for silver, not to mention any geopolitical tensions that would generate keener safe-haven demand for silver," she added.

Silver prices have been rising dramatically due to increased industrial demand and supply shortages in the global market. Due to the widening supply-demand gap, the white metal has left the yellow metal behind in terms of returns this year.

Gold, silver futures

Gold futures for February delivery touched a new peak on Monday, rising by 1.49% to ₹1,36,199 per 10 gram on the Multi Commodity Exchange (MCX) after closing at ₹1,34,196 per 10 gram on Friday. At around 6:20 pm, the contracts were trading 1.4% up at ₹1,36,085 per 10 gram.

Silver futures also hit another lifetime high, rising by 2.9% from ₹2,08,439 per kg on Friday to ₹2,14,583 per kg on Monday. The contracts for the March expiry were trading 2.35% up at ₹2,13,347 per kg at around 6:20 pm on the MCX.