Silver rates cross ₹2 lakh mark in Delhi, soars to lifetime high of ₹2,05,800 per kg; gold rises

Silver prices on Wednesday, December 17, crossed the ₹2 lakh per kg mark in Delhi for the first time, supported by strong demand in domestic and global markets, according to the All India Sarafa Association. 

The white metal jumped ₹7,300 to a record high of ₹2,05,800 per kg after closing at ₹1,98,500 per kg on Tuesday. So far in 2025, silver has advanced 127.4%, rising by ₹1,15,300 per kg in just 2025 against ₹90,500 recorded on January 1. 

Earlier, on December 12, silver contracts for March delivery surpassed the ₹2 lakh mark. On Wednesday, December 17, the futures contracts hit a fresh peak of ₹2,06,111 per kg on the Multi-Commodity Exchange (MCX). 

In the international market, silver touched a new record high on Wednesday, rising by $2.77 (4.35%) to $66.52, crossing the $66-per-ounce mark for the first time. As compared to $28.97 per ounce on December 31, 2024, silver is up 129.6% in overseas markets. 

The US dollar index has reached a two-month low, making greenback-priced bullion more affordable for international purchasers, a PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying.

Silver has been rising in both domestic and international markets because of its increased industrial demand from crucial sectors like EV and solar, and supply shortages.

Gold rates in Delhi

Gold prices climbed ₹600 to ₹1,36,500 per 10 gram after closing at ₹1,35,900 per 10 gram on Tuesday. In overseas trade, spot gold jumped $18.59 (0.43%) to $4,321.06 per ounce. In the international markets, spot gold rallied by $18.59, or 0.43%, to $4,321.06 per ounce.

"Spot gold is trading with a gain of around 0.4% at $4,320 per ounce as traders await the US Consumer Price Index (CPI) data to be released on Thursday," the report quoted Praveen Singh, Research Analyst, Mirae Asset ShareKhan, as saying.

Traders will now be closely monitoring hints towards further rate cuts by the US Federal Reserve after the third cut announced on December 10.