Gold firm above Rs 14,000/grm, Silver near record Rs 2.30 lakh/kg at midday Friday
CHENNAI: Gold and silver prices in India continued their impressive upward momentum on Friday (26, December), with both metals pushing to fresh highs as investor interest in bullion remained strong amid a backdrop of global economic uncertainty and thin year-end trading volumes. In domestic bullion markets, gold prices edged higher compared with the previous session, with 24-carat gold hovering above Rs 14,000 per gram, reflecting steady demand from investors and buyers. The rise in gold prices today was in line with broader international trends, where the precious metal was trading significantly higher in US dollar terms, supported by safe-haven buying and expectations of continued monetary easing by major central banks.
Silver, however, stood out for its particularly sharp gains. On India’s commodity markets, silver prices climbed briskly, trading near record levels on the Multi Commodity Exchange. Prices for silver per kilogram crossed the Rs 2.30 lakh mark and approached historically high levels as speculative interest and strong industrial demand helped sustain the uptrend. This performance echoed strong global movements, with silver on international markets also reaching lifetime peaks above $75 per ounce, reflecting a combination of investor demand for non-yielding assets, tight supply conditions, and rising usage in industrial applications.
Market participants attributed the firm price trend to several factors. A weaker US dollar and expectations of further US interest rate cuts lent support to gold and silver, making bullion more attractive relative to yield-bearing assets. Geopolitical tensions and economic uncertainty also boosted the traditional safe-haven appeal of precious metals, encouraging both retail and institutional buying. Silver’s rally was further reinforced by rising demand from technology and renewable energy sectors, which use silver intensively in products such as solar panels and electric vehicles, contributing to tightening supply dynamics.
At the same time, year-end thinness in trading activity amplified price moves, with fewer active participants in markets meaning that even modest buying pressure translated into noticeable price gains. Investors looking to hedge inflation and portfolio risk appeared to favour bullion, contributing to continued strength in both gold and silver prices.
Analysts watching the trend noted that while short-term volatility could lead to intermittent profit-taking, the broader price trajectory remained bullish. With gold having posted substantial gains year-to-date and silver outperforming with an even steeper climb, the precious metals complex continued to attract attention as a store of value amid evolving global economic signals.
"Gold continues to serve as the anchor hedge amid elevated global uncertainty, while silver is increasingly emerging as the high-beta outperformer of the current cycle. Currency stability and global risk flows are expected to remain key drivers across asset classes in the coming weeks," says R Ponmudi, CEO, Enrich Money, adding that; while, silver continues to outperform across the precious metals space, surging to fresh record highs around $74–75/oz on COMEX (Mar 2026 contract).
"The rally is being driven by a powerful combination of safe-haven demand, accelerating industrial consumption and persistent supply tightness. The impulsive bullish structure remains dominant, with pullbacks shallow and short-lived. On the upside, momentum could extend toward the $78–$80 zone, while strong support is seen at $70–$72. Silver is currently delivering one of its strongest annual performances in decades, significantly outperforming gold amid favourable fundamentals and elevated risk premiums," said Ponmudi.