The Indian bullion market stayed strong this week keeping up last week’s positive trend. Silver prices saw a big jump rising by more than Rs. 15000 per kilogram to hit a record high of Rs. 1.64 lakh per kg. Gold prices also moved up gaining over Rs. 2000 per 10 grams during the week. As per the Indian Bullion and Jewellers Association (IBJA) silver prices climbed by Rs. 4950 on Friday closing at Rs. 164500 per kg compared to Rs. 159550 per kg on Thursday. However 24-carat gold saw a small dip of Rs. 1104 settling at Rs. 121525 per 10 grams after touching a record high of Rs. 122629 the previous day.
Throughout the week both gold and silver showed steady growth. Silver jumped by Rs. 15667 from Monday’s price of Rs. 148833 per kg while 24-carat gold went up by Rs. 2276 from Rs. 119249 per 10 grams at the start of the week.
Metal prices stayed strong in the domestic futures market this week as well. On the Multi Commodity Exchange (MCX) gold for December 5 expiry closed at Rs. 121492 per 10 grams on Friday which is up Rs. 999 or 0.83 per cent from the previous day’s close of Rs. 120493. Similarly silver for December 5 delivery ended at Rs. 146698 per kg up Rs. 374 or 0.26 per cent from the last session’s closing price of Rs. 146324.
Experts say limited mining ongoing global tensions and high festive demand have kept prices elevated. In India silver exchange-traded funds (ETFs) are also trading at high premiums compared to international prices.
According to a report by Axis Mutual Fund global investment in silver products reached record levels in the first half of 2025 adding about 95 million ounces more than the total inflows for the entire previous year. This pushed total silver ETF holdings to around 1.13 billion ounces valued at over USD 40 billion by mid-2025.
(With IANS inputs)