Silver prices soar ₹1,800 to hit lifetime high of ₹2.07 lakh/kg in Delhi markets; gold flat at ₹1.36 lakh/10 gram

Rising to a record high for the second consecutive session, silver prices rose by ₹1,800 on Thursday, December 18, to ₹2,07,600 per kg amid persistent buying by traders, according to the All India Sarafa Association. 

On Wednesday, the white metal surpassed the ₹2 lakh per kg mark for the first time, rising by ₹7,300 to settle at the previous lifetime high of ₹2,05,800 per kg. 

When compared to the start of this year, silver prices have skyrocketed by ₹1,17,100 (129.4%) in 2025 from ₹90,500 per kg on January 1 to ₹2.07 lakh per kg. 

Meanwhile, gold prices (24K, 99.9%) remained flat at ₹1,36,500 per 10 gram on Thursday, as per the association data. 

In the overseas markets, spot gold fell $13.16, or 0.31%, to $4,325.02 per ounce. 

The market sentiment was influenced by comments from Federal Reserve Governor Christopher Waller, who supported additional interest rate cuts on Wednesday, saying that policymakers could proceed cautiously, a PTI report said. 

The remarks followed the release of US labour data indicating further cooling, with the unemployment rate rising to a four-year high and November job additions failing to offset the slowdown seen in October, the report added. 

Spot silver slipped 0.25% to $66.04 per ounce in the international markets. In the previous session, the white metal had increased by $3.13, or 4.91%, to hit a record high of $66.88 per ounce.

In 2025, from its record highs, silver prices have risen by $37.32, or 126.3%, from $29.56 per ounce, recorded on January 2, 2025.

Analysts said the white metal is witnessing its fifth straight year of supply deficit, a trend expected to persist and continue boosting prices in 2026, the PTI report said.

Silver prices have skyrocketed in 2025 primarily due to high industrial demand and shortage concerns, widening the supply-demand gap in the global markets. The use of white metal in crucial sectors like electric vehicles, solar, electronic manufacturing and 5G has supported its bull run in the current calendar year.