Silver surges past Rs 2 lakh/kg, gold prices jump nearly 2 pc

December 12, 2025

New Delhi: Silver crossed the Rs 2 lakh mark during intra-day trading on the Multi-Commodity Exchange (MCX) on Friday, reaching an all-time high of Rs 2,01,388 per kg.

Record-breaking jump on MCX

The price of the futures contract expiring on March 5, 2026, rose by more than Rs 2,400 during the day to Rs 2,00,462, up Rs 1,520 from Rs 1,98,942 in the previous session.

The precious metal also witnessed a sharp rise in the retail market, where its price increased by Rs 8,000 to Rs 1,95,180 per kg. According to the Indian Bullion Jewellers Association (IBJA), silver had closed at Rs 1,86,988 per kg on Thursday.

After delivering returns of over 20% in 2024, silver continued its impressive rally in 2025. Prices recorded their largest annual gain since 1979, exceeding 100%.

Technical Breakout Suggests Long-Term Bullishness

According to an Axis Securities report, “Silver has broken out of a multi-year consolidation phase, signaling the start of a long-term structural uptrend. The monthly chart shows a massive rounding bottom breakout spanning from 2011 to 2025.”

Silver prices in the international market surpassed $64 per ounce.

The report stated that “silver broke through the crucial $50 resistance level to touch an all-time high of $64.”

Strength Continues Globally

The report further stated that silver has made a decisive breakout from a decade-long bottoming structure.

“A monthly close above $67 could trigger a multi-year uptrend, targeting $76-80. Some consolidation could occur around $65, but the long-term outlook remains extremely bullish,” the domestic brokerage firm said.

Meanwhile, gold futures contracts expiring on February 5 gained 1.87 percent to close at Rs 1,34,948 per 10 grams on MCX. In the retail market, the price of 24-carat gold rose by over Rs 4,600 to Rs 1,32,710 per 10 grams, up from Rs 1,28,596 per 10 grams the previous day, according to IBJA.