Silver prices extended their record-breaking rally for a sixth straight session on Monday (December 29, 2025), surging 6% to touch a lifetime high of ₹2,54,174 per kilogram in futures trade amid strong investor demand and bullish global trends.

On the Multi Commodity Exchange (MCX), silver futures for March delivery surged ₹14,387, or 6%, to hit a new record of ₹2,54,174 per kilogram. The white metal has been witnessing robust buying interest from traders, tracking firm trends in the international markets.

Meanwhile, gold futures hovered near all-time highs in the domestic futures market. On the MCX, the yellow metal for February delivery gained by ₹357, or 0.26%, to ₹1,40,230 per 10 grams.

It had scaled a fresh peak of ₹1,40,465 per 10 grams on Friday.

In the international markets, gold futures opened on a positive note but later trimmed all its early gains to trade lower at $4,536.80 per ounce, down by $15.90, or 0.35%, as investors booked profits after last week’s rally.

However, silver futures crossed the $80-per ounce mark for the first time on the Comex. The March 2026 contract climbed $5.47, or 7.09%, to touch a record level of $82.67 per ounce, driven by expectations of lower interest rate cuts by the U.S. Federal Reserve next year and strong industrial demand.

Extending its blistering rally for the fifth straight session, silver prices on Friday (December 26, 2025) surged ₹8,951 to hit a fresh record high of ₹2,32,741 per kilogram in futures trade as the white metal breached the $75-per ounce-mark in the global market.

On the Multi Commodity Exchange (MCX), silver futures for March 2026 contract jumped ₹8,951, or 4%, to an all-time high of ₹2,32,741 per kg. The white metal had gained ₹29,176, or 14.33%, since December 18.

In addition, gold prices crossed the ₹1.39 lakh per 10 grams mark for the first time on the commodities bourse. Rising for the fourth straight session, the yellow metal for February delivery jumped ₹1,119, or 0.81%, to scale a new lifetime high of ₹1,39,216 per 10 grams.

The commodity markets remained closed on Thursday on account of Christmas.

Meanwhile, bullion prices gathered pace as gold and silver hit lifetime highs in the international market. On the Comex, yellow metal futures for February delivery rose $58.8, or 1.3%, to touch a new peak of $4,561.6 per ounce.

“Gold prices rose to around $4,500 per ounce on Friday, after briefly hitting an all-time high of $4,530 earlier in the session, driven by safe-haven demand amid mounting geopolitical tensions and expectations of interest rate cuts by the U.S. Federal Reserve,” Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.

Rallying for the fifth straight day, silver futures for March contract increased by $3.81, or 5.31%, to scale a fresh peak of $75.49 per ounce on the Comex. It had settled at $71.68 per ounce on Wednesday.

Mr. Trivedi said the U.S. blockade of Venezuelan crude shipments, continued hostilities between Russia and Ukraine, and Washington’s recent military strike against ISIS in Nigeria have reinforced safe-haven demand for bullion prices.

Investors continue to price in two quarter-point rate cuts by the Federal Reserve next year as inflation cools and labour market conditions soften, even as Fed officials remain divided on the path ahead.

“Gold prices have surged more than 70% so far this year, marking its largest annual gain since 1979, with the rally also underpinned by strong central bank buying and sustained exchange traded fund (ETF) inflows,” he added.

According to commodity market experts, the record-setting run in bullion could persist in early 2026, supported by easing inflation, a weak dollar, and persistent geopolitical risks that continue to fuel safe-haven demand.