NEW DELHI– Silver prices surged to an all-time high on Friday, crossing the Rs 2 lakh per kilogram mark on the Multi-Commodity Exchange (MCX), while gold prices jumped nearly 2 percent amid strong momentum in precious metals.
Silver touched an intraday record of Rs 2,01,388 per kilogram on MCX. The March 5, 2026 futures contract gained more than Rs 2,400 during the session before settling at Rs 2,00,462, up Rs 1,520 from the previous close of Rs 1,98,942.
The rally was also reflected in the retail market, where silver prices climbed sharply to Rs 1,95,180 per kilogram. According to the Indian Bullion Jewellers Association (IBJA), silver had closed at Rs 1,86,988 per kilogram on Thursday.
Silver has continued its strong upward trajectory in 2025 after delivering returns of over 20 percent in 2024. Prices have recorded their highest annual gain of more than 100 percent 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 international markets, silver prices surged past the $64 per ounce level.
“The white metal has broken the neckline resistance at the $50 level and surged to a new all-time high of $64,” the report said, adding that silver has decisively exited a decade-long bottoming structure.
Axis Securities noted that a sustained monthly close above $67 could trigger a multiyear uptrend with potential targets of $76 to $80. While some consolidation may occur near resistance around $65, the long-term outlook remains strongly bullish.
Gold prices also posted sharp gains. The MCX gold futures contract expiring on February 5 rose 1.87 percent to close at Rs 1,34,948 per 10 grams. In the retail market, 24-carat gold settled at Rs 1,32,710 per 10 grams, up more than Rs 4,600 from the previous close of Rs 1,28,596 per 10 grams, according to IBJA. (Source: IANS)
