Gold also rose to Rs 1.37 lakh per 10 grams on Friday from Rs 1.36 lakh per 10 grams a day earlier. Silver has returned 150 percent this year while gold has returned 75 percent.
Aksha Kamboj, Vice President, India Bullion and Jewelers Association and Executive Chairperson, Aspect Global Ventures, said, “Silver has maintained its momentum over the past few weeks, with strong support from renewable energy and a tight supply position.”
In the international market, silver touched a high of $75 per troy ounce, an unprecedented rise in such a short period, bullion dealers said.
Haresh V, Head of Commodity Research at Geojit Investments said, “Silver has hit historic highs, breaching ₹2,33,000 per kg in India and testing the psychological level of $75 per ounce in the overseas market. The rally reflects a confluence of factors such as strong industrial demand, tight investment in global supply and investment with a lack of interest. Accommodative central bank stance and geopolitical While risks remain, silver’s appeal as a hedge against inflation and currency volatility remains intact, while silver’s dual role as a safe-haven asset and essential industrial commodity can continue if current conditions improve.”
The sharp rally in gold and silver this year is the result of a confluence of several global and domestic forces. Global economic uncertainty, marked by geopolitical tensions, war-like situations and slowdowns in major economies, have prompted investors around the world to seek safe havens. The All India Gem and Jewelery Domestic Council (GJC) said gold has long been regarded as the ultimate safe haven, resulting in huge interest in its purchases.
Another key factor is the expectation of interest rate cuts by the United States. As markets sensed that the Federal Reserve might cut rates in the coming months, gold’s appeal rose sharply, as non-interest-bearing assets quickly gained value in such an environment. Adding to this momentum, the weakness of the US dollar has naturally boosted gold and silver prices internationally.
Central banks around the world have also played a major role. Countries like China, Turkey and India have increased the gold component of their foreign exchange reserves, reinforcing the long-term bullish trend. Meanwhile, silver has benefited not only from its role as a jewelry metal but also from its growing importance as an industrial metal. Demand for silver in the solar panels, electric vehicles and battery industries has grown rapidly, fueling its price hike.
In India, strong physical demand during the wedding and festive season has further supported prices. Increased buying of bullion as a safe investment option has also contributed to the upward trend.
GJC Chairman Rajesh Rokde said: “The bullion market in 2025 is a stark reminder that precious metals are strategic assets, not speculative instruments. Gold’s historic surge is a direct reflection of global uncertainty. Silver has decisively moved beyond tradition… emerging as an important metal and harnessing the metal’s power and new power in the future through electric energy. The dynamism of its cultural and Jewelery maintaining relevance this year has firmly established that gold and silver are not just screen-trading commodities, but India’s journey towards economic stability, cultural heritage and technological and sustainable development.”
Looking ahead, GJC believes that an uncertain global environment, rate cut expectations, dollar weakness, central bank purchases and industrial demand for silver will lead to a strong bullish trend for both metals. While volatility may increase, the overall outlook for 2026 remains positive.
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times.)
As a trusted and reliable news source
Add now!
(You can now subscribe to our ETMarkets WhatsApp channel)
