Silver prices soar to new record high of ₹2.27 lakh/kg in Delhi; breach $72/ounce-mark in global markets

Silver prices skyrocketed by ₹9,750 per kg to a new lifetime high of ₹2,27,000 per kg in Delhi on Wednesday, December 24, just a few days after surpassing the ₹2 lakh per kg mark, while the white metal breached the $72 per ounce mark in overseas trade. 

On Tuesday, the precious metal closed at ₹2,17,250 per kg in Delhi, according to the All India Sarafa Association. In the last three sessions, silver has added ₹22,900 per kg, rising from ₹2,04,100 per kg on Monday to ₹2.27 lakh per kg on Wednesday.

The metal grew by as much as ₹10,400 per kg on Monday and added ₹2,750 per kg on Tuesday. 

Since the start of 2025, the white metal has added ₹1,37,300, or 153.06%, from ₹89,700 per kg recorded on December 31, 2024.

Meanwhile, gold of 99.9% purity (24K) ended flat on Wednesday at ₹1,40,800 per 10 gram after closing at ₹1,40,850 per 10 gram on Tuesday. So far this year, gold has soared by over 78%. 

A weakening US dollar, hopes for further rate cuts by the US Federal Reserve and rising geopolitical tensions are supporting the bullion. The precious metals, gold and silver, are safe-haven assets; they rise during uncertain situations, market volatility, weak economic signals and global concerns. 

On top of this, silver’s rising industrial demand and supply shortages have added upward pressure on the white metal, aiding its bull run.   

In the international markets, spot gold crossed the $4,500 per ounce mark for the first time, rising by $41.18, or 0.92%, to $4,525.96 per ounce. In the last four sessions, the yellow metal has added $186.46, or 4.3%, up from the closing price of $4,339.50 on December 19, 2025.

"Spot gold reached a fresh record high of $4,525 per ounce in the Asian session as the US dollar remains on defensive," a PTI report quoted Praveen Singh, Head of Commodities and Currencies, Mirae Asset ShareKhan, as saying.

So far this year, gold has advanced $1,920.19, or 73.7%, from $2,605.77 per ounce recorded on December 31, 2024.

Spot silver, extending the gains for the fourth straight session, jumped $1.22, or 1.7%, to hit a fresh high of $72.70 per ounce in the overseas trade.

"Spot silver rose to hit a record $72 per ounce, setting new records, fuelled by anticipation of further monetary policy easing by the US Federal Reserve and increased geopolitical tensions," the PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying.

In the last four sessions, the white metal has surged by $5.56, or 8.3%, from $67.14 per ounce on December 19, 2025. So far this calendar year, silver prices have surged by USD 43.73, or 151%, up from $28.97 per ounce recorded on December 31, 2024.

"The rising tensions between the US and Venezuela have boosted safe-haven flows into the bullion prices. Further, US Q3 GDP data failed to strengthen the US dollar despite increased bets on two Fed rate cuts in 2026," Chainani added, as per the PTI report. 

Gold, silver futures

Gold futures soared 0.57% on Wednesday to touch a new record high of ₹1,38,676 per 10 gram on the Multi Commodity Exchange (MCX), after closing at ₹1,37,885 per 10 gram in the previous session. At around 7:40 pm, the contracts were trading 0.2% up at ₹1,38,277 per 10 gram.  

Silver futures for the March expiry jumped to a fresh peak of ₹2,24,430 per kg on Wednesday, rising by 2.17% from the previous closing price of ₹2,19,653 per kg. The contracts were trading 1.73% up at ₹2,23,444 per kg at around 7:40 pm.