New Delhi: Silver prices extended the record-setting rally for the fifth straight day Monday, jumping Rs 3,650 to Rs 2,40,000 per kg in the national capital due to persistent buying by traders, according to the All India Sarafa Association.
The white precious metal had closed at Rs 2,36,350 per kilogram Friday.
So far this year, silver prices have delivered remarkable returns, surging 167.55 per cent, or Rs 1,50,300, from Rs 89,700 per kg recorded December 31, 2024.
Meanwhile, gold of 99.9 per cent purity retreated from its record levels by declining Rs 500 to Rs 1,41,800 per 10 grams (inclusive of all taxes). It had climbed Rs 1,500 to hit a fresh record of Rs 1,42,300 per 10 grams in the previous market session.
Gold traded weak on Monday as traders booked profit after the yellow metal in the international markets slipped nearly USD 70 to USD 4,463 per ounce amid high volatility, Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said.
In the overseas markets, spot gold was trading lower by USD 69.67, or 1.54 per cent, at USD 4,462.96 per ounce.
Spot silver retreated from lifetime highs to trade lower by USD 4.06, or 5.13 per cent, to USD 75.09 per ounce, pressured by profit-taking after an end-of-year rally that notched a fresh record of USD 83.97 per ounce.
“The broader trend remains volatile as markets reassess positions after the recent sharp rally. This week, the Federal Reserve’s meeting minutes will be a key trigger, while the US holiday period could keep trading volumes relatively thin,” Trivedi said.
Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said, “In 2025, gold, and silver reached record highs, driven by a potent blend of macroeconomic shifts, industrial demand, and structural supply tightness.”
He further said commodities have arguably become the standout outperformer while equities continue to deliver modest gains, it’s the surge in raw materials that’s capturing attention.
“This divergence reflects rising demand for tangible assets amid inflation concerns, resilient industrial consumption post-Covid, and mounting geopolitical risks, factors that have boosted commodities’ appeal relative to paper assets,” Hareesh V said.
On the market outlook, he added that in 2026 and beyond, the bullish trend in commodities appears poised to persist, driven by enduring structural dynamics across multiple sectors.
“Gold remains underpinned by sustained central bank accumulation and elevated geopolitical risk, declining real interest rates and ongoing macro uncertainty further support its safe-haven status. Silver may benefits from prolonged supply deficits and surging industrial demand, especially from solar, AI, EVs, and electronics, keeping it in price-discovery territory,” Hareesh V of Geojit Investments said.
PTI
