Silver prices have created history in India. On Wednesday, December 17, 2025, silver crossed the ₹2 lakh per kg mark for the first time ever, surprising investors and buyers alike. According to the India Bullion and Jewellers Association (IBJA), the price of silver jumped by ₹8,775 in a single day to reach ₹2,00,750 per kg. Just a day earlier, it was trading around ₹1,91,977. What’s more striking is the yearly rise — silver has become costlier by ₹1,14,733 in 2025 so far.
Gold also shines near record high
Gold prices also moved up on Wednesday. The price of 24-carat gold rose by ₹936 to ₹1,32,713 per 10 grams. Earlier, it was at ₹1,31,777. Gold had touched its all-time high of ₹1,33,442 per 10 grams on December 15.
Silver Price in Delhi
| Silver | Today |
|---|---|
| Silver (1 gram) | ₹ 222 |
| Silver (1 Kg) | ₹ 222,000 |
How silver reached ₹2 lakh per kg
Silver’s long-term journey shows how sharply prices have climbed over the years. In 2004, silver was priced near ₹10,000 per kg. It crossed ₹50,000 in 2011, ₹60,000 in 2020, and ₹90,000 in 2024. In 2025, silver crossed both ₹1 lakh and ₹2 lakh levels, showing massive demand and tight supply.
Why silver prices are rising so fast
Silver is no longer limited to jewellery. It has become a critical industrial metal. Demand is rising due to its heavy use in solar panels, electronics, electric vehicles, batteries, medical equipment, mobile phones, computers, and LED lights.
Globally, supply is tight. Reports suggest that American companies are stockpiling silver, fearing future shortages. Many buyers are purchasing in advance due to concerns over production disruptions. This fear-driven buying is keeping prices high. At the same time, investors are showing strong interest in Silver ETFs, which is pushing demand even further.
Gold and silver surge in 2025
So far in 2025, gold prices have risen by ₹56,551. On December 31, 2024, gold was priced at ₹76,162 per 10 grams, which has now jumped to over ₹1.32 lakh. Silver has performed even stronger. From ₹86,017 per kg at the end of 2024, it has now climbed to ₹2,00,750 per kg, gaining more than ₹1.14 lakh in less than a year.
Gold prices across major cities
Gold prices vary slightly across cities due to taxes and making charges. IBJA rates do not include 3% GST and jewellers’ margins, which is why local prices may differ. These IBJA rates are also used by the RBI to fix Sovereign Gold Bond prices and by banks to decide gold loan rates. The gold rate today per gram is as given below:
- Fine Gold (999):₹ 13271
- 22 KT:₹ 12953
- 20 KT:₹ 11812
- 18 KT:₹ 10750
- 14 KT:₹ 8560
India’s massive silver demand
India is the world’s largest silver consumer. In 2024 alone, India used around 7,700 tonnes of silver. However, only 10–20% of this silver is available domestically. Nearly 80% is imported, which makes prices highly sensitive to global supply issues. With strong industrial demand, rising investment interest, and limited supply, experts believe the upward trend in silver prices may continue in the coming months.
