Silver prices surged to an unprecedented all-time high this week, igniting renewed enthusiasm across global precious-metals markets, while gold also rallied sharply in response to shifting economic expectations.
The spike in silver has been driven by a combination of tightening global supply, strong industrial demand from sectors such as solar energy and advanced electronics, and heightened investor interest as markets brace for potential monetary easing.
With inventories falling and demand consistently outpacing production, traders say the metal’s momentum has been building for months, culminating in this record-setting jump.
Gold joined the upswing as investors sought safety amid persistent economic uncertainty and renewed speculation that major central banks, particularly the US Federal Reserve, may soon pivot toward interest-rate cuts. A softer dollar and risk-averse sentiment in equities have further increased the appeal of gold as a safe-haven asset.
Silver scaled to an all-time high of ₹1,786,49 per kg, as per MCX data. While gold price zoomed to ₹1,30,794 per 10 grams.
Market watchers noted that while gold’s rally is impressive, silver’s dramatic climb reflects both its dual role as an industrial input and an investment asset—making its price movements particularly sensitive to shifts in global manufacturing trends.
Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, recently said that Silver has already shown that it prefers trending moves after periods of rest. The setup once again hints that another leg of the uptrend may be about to begin.
Although the surge highlights strong underlying fundamentals, volatility may remain elevated in the near term. Still, many see the broader trend as supportive of precious metals, with both silver and gold benefiting from a mix of structural demand, macroeconomic uncertainty, and investor appetite for alternative stores of value.
Published on December 1, 2025
