Silver breaches Rs 4 lakh/kg, gold hits record Rs 1.83 lakh/10g as global safe-haven demand surges
Silver prices in the national capital crossed the Rs 4 lakh per kg mark on Thursday, while gold touched a fresh lifetime high of Rs 1.83 lakh per 10 grams, tracking a sharp rally in global markets amid rising geopolitical and economic uncertainty, according to the All India Sarafa Association, as reported PTI.Silver extended gains for the fourth consecutive session, surging Rs 19,500, or 5.06%, to an all-time high of Rs 4,04,500 per kg (inclusive of all taxes), from Rs 3,85,000 per kg in the previous session. So far this year, silver prices have jumped Rs 1,65,500, or 69.2%, from Rs 2,39,000 per kg recorded at the end of last year.“Silver prices surged past the Rs 4 lakh per kg milestone on Thursday, while gold rallied to a record high on the back of strong investor demand and a powerful global rally in precious metals,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.He attributed the rally to strong safe-haven demand amid global economic uncertainty and escalating geopolitical tensions. “Silver, in particular, has been outperforming gold, supported by robust industrial demand and a weakening US dollar, which continues to boost sentiment across the bullion complex,” Garg added.Gold of 99.9% purity jumped Rs 12,000, or 7.02%, to touch a record Rs 1,83,000 per 10 grams (inclusive of all taxes), from Rs 1,71,000 per 10 grams in the previous session.“An explosive move extended in gold and silver, with both metals hitting new all-time highs in Thursday’s session. The rally was driven by strong demand for safe-haven assets, strong inflows into ETFs, and a weak US dollar,” said Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities.He said persistent geopolitical tensions and global economic uncertainty have reinforced gold and silver’s role as preferred hedges, prompting investors to raise exposure to precious metals.Meanwhile, India’s gold demand declined 11% in 2025 to 710.9 tonnes and is expected to moderate further to 600–700 tonnes in 2026 due to record-high prices and shifting consumer behaviour, the World Gold Council (WGC) said. Gold demand stood at 802.8 tonnes in 2024.In value terms, however, soaring prices lifted demand sharply, rising 30% to Rs 7,51,490 crore in 2025, compared with Rs 5,75,930 crore a year earlier.“India’s gold market in Q4 2025 clearly reflected the dual impact of record-high prices and shifting consumer behaviour. Total gold demand for the quarter stood at 241.3 tonne, marking a 9 per cent decline compared to Q4 2024. However, this moderation in volume was more than offset by a sharp rise in value, with overall gold demand increasing 49 per cent year-on-year to approx. Rs 3,03,470 crore,” said Sachin Jain, Regional CEO (India), WGC.In international markets, gold surged USD 177.14, or 3.3%, to hit a new record of USD 5,595.02 per ounce.“Spot gold posted its largest-ever intraday gain to hit a fresh record high of USD 5,595, driven by heightened geopolitical tensions after the US President Donald Trump threatened Iran with dire consequences to return to talks to reach a new deal on its nuclear programme,” said Praveen Singh, Research Analyst at Mirae Asset Sharekhan, PTI quoted him as saying.Spot silver climbed USD 3.59, or 3.07%, to a lifetime high of USD 120.45 per ounce.“Gold price movements based on the past may no longer work as we believe the world is witnessing a once in a century phenomenon and therefore gold could head much higher in the next two years, possibly crossing USD 8,000 by 2027,” said Sandip Raichura, CEO of Retail Broking and Distribution & Director, PL Capital.According to the WGC, global gold demand crossed 5,000 tonnes for the first time in 2025, reaching a record 5,002 tonnes, driven largely by investment demand, which rose to 2,175.3 tonnes from 1,185.4 tonnes in 2024.
