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Silver Soars Past Rs 2 Lakh/kg: Gold Jumps 2% Amid Historic Rally

Silver prices have entered uncharted territory, blasting past the Rs 2 lakh per kilogram mark for the first time ever. This surge is part of a historic rally, with the metal posting its highest yearly gains in over four decades. Analysts are pointing to a major technical breakout from a consolidation phase that lasted more than a decade. Meanwhile, gold is riding the same wave, with prices jumping nearly 2% in a single session.

Key Points: Silver Hits Record Rs 2 Lakh/kg, Gold Prices Surge Nearly 2%

  • Silver futures hit an all-time high of over Rs 2 lakh per kg on MCX during intraday trade
  • The white metal has broken a key resistance at $50, surging past $64 per ounce internationally
  • Gold prices also surged nearly 2%, closing above Rs 1.34 lakh per 10 grams on MCX
  • Analysts note a massive 'Rounding Bottom' breakout pattern stretching from 2011 to 2025
2 min read

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

Silver prices smash records, crossing Rs 2 lakh per kg on MCX. Gold also jumps nearly 2%. Analysts cite a major breakout from a decade-long consolidation.

"Silver has broken out of a multi-year consolidation phase, signalling the early stages of a long-term structural uptrend. - Axis Securities report"

New Delhi, Dec 12

Silver touched the Rs 2 lakh mark to hit an all-time high of Rs 2,013,88 per kilogram on the Multi-Commodity Exchange (MCX) during the intraday trade on Friday.

The price of the future contract expiring on March 5, 2026, rose over Rs 2,400 during the day before settling at Rs 2,00462, up Rs 1,520 against the previous session's closing of Rs 1,98,942.

The precious metal witnessed a sharp rally in the retail market as well, surging from Rs 8,000 to Rs 1,95,180 per kg. According to the Indian Bullion Jewellers Association (IBJA), silver closed at Rs 1,86,988 per kg on Thursday.

Silver extended its golden run in 2025 after delivering more than 20 per cent return in 2024. Prices posted their highest yearly gain of more than 100 per cent since 1979.

"Silver has broken out of a multi-year consolidation phase, signalling the early stages of a long-term structural uptrend. The monthly chart highlights a massive Rounding Bottom breakout formation stretching from 2011 to 2025," Axis Securities said in a report.

In the international market, the silver price surpassed the $64 per ounce mark.

"The white metal has broken the neckline resistance at the $50 level, and surged to a new all-time high of $64," the report added.

The report further said that silver has decisively broken out of a decade-long bottoming structure.

"A sustained monthly close above $67 could trigger a multiyear uptrend targeting $76-$80. Consolidation may occur near resistance around $65, but the overall structure remains strongly bullish in the long term," the domestic brokerage firm noted.

Meanwhile, the gold future contract expiring on February 5 surged 1.87 per cent to close at Rs 1,34,948 per 10 grams on MCX. In the retail market, the 24-carat gold price settled at Rs 132,710 per 10 grams, up over Rs 4,600 from the previous day's closing of Rs 1,28,596 per 10 grams, according to the IBJA.

- IANS

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Reader Comments

S
Sarah B
As an investor, this is fascinating. The report mentions a "decade-long bottoming structure" breaking. Might be a good time to look at silver ETFs, though the volatility is scary. Past performance isn't a guarantee, of course.
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Rohit P
Silver at 2 lakh/kg! My father bought some bars years ago as a "safe" investment. He's smiling today. In India, nothing beats sone-chandi when things are uncertain. This is why our elders always saved in physical assets.
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Priya S
While the rally is impressive, I wish the article had more analysis on the *why*. Is it just global factors, or is there increased Indian industrial demand? A bit more depth would help common readers understand the trend.
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Vikram M
Gold jumping nearly 2% in a day is huge. This directly impacts the current account deficit, no? The RBI must be watching this very closely. Macro-economically, this isn't all good news for the country.
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Nisha Z
Time to check my mom's old silver jewellery! 😄 On a serious note, this surge makes me worried about inflation. When essentials are already costly, such spikes in precious metals often signal more economic turbulence ahead.

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