Mumbai: Silver prices hit an all-time high on Monday, following gold’s recent record-breaking rally. Strong demand for safe-haven assets and expectations of further interest rate cuts in the United States have pushed precious metals sharply higher. Investors are turning to gold and silver amid global uncertainty and market volatility.
MCX Silver Hits Fresh Record in India
On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped 2.39 per cent. Around 9:15 am, silver was trading near Rs 2,13,412 per kilogram, after touching a lifetime high of Rs 2,13,844 per kilogram. Gold prices also moved higher during the session. Gold futures for February delivery rose 0.77 per cent to reach Rs 1,35,224 per 10 grams.
Global Prices at All-Time Highs
International markets also showed strong gains. Spot silver climbed 2.7 per cent to hit a record high of USD 69.23 per ounce. Spot gold rose 1.2 per cent to a new all-time high of USD 4,391.92 per ounce. The rally reflects growing expectations that US interest rates may be reduced further, making non-interest-bearing assets like gold and silver more attractive.
Silver Delivers Massive Returns in 2025
Silver has delivered exceptional returns this year. So far in 2025, silver prices have surged by nearly 138 per cent, far outperforming gold. Market experts say strong investment demand, limited supply and steady industrial usage have driven this sharp rise. Many analysts believe the rally may continue if global risks remain high.
Gold Prices Across Major Indian Cities
Gold prices remain firm across India. In Chennai, 24-carat gold is priced at Rs 1,36,150 per 10 grams, while 22-carat gold costs Rs 1,24,800. In cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune, 24-carat gold is selling at Rs 1,35,280, and 22-carat gold at Rs 1,24,000 per 10 grams.
In Delhi, 24-carat gold stands at Rs 1,35,430, while 22-carat gold is priced at Rs 1,24,050. Similar rates are seen in Ahmedabad and Vadodara.
Outlook Remains Strong
Experts believe that as long as global uncertainty, supply constraints and rate cut expectations continue, precious metals may remain well supported.
