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Silver Hits ₹2 Lakh: Gold and silver once again broke all records. 24-carat gold on MCX reached close to ₹1.34 lakh (Gold Price Today) per 10 grams. Silver crossed ₹2 lakh for the first time. Significantly, this rise in gold and silver has occurred for the second consecutive day since the US central bank, the Federal Reserve, reduced interest rates.
Gold with February 5, 2026 expiry on the Multi Commodity Exchange (MCX) reached an all-time high on Friday, December 12, at around 2:40 pm. It recorded a gain of 1.06 percent to ₹1399 and began trading at ₹1,33,868. During trading, it reached an all-time high of ₹1,33,967, while the day's low was ₹1,32,275. The previous day, Thursday, it closed at ₹1,32,469.
Silver Hits ₹2 Lakh, breaks all previous records
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Silver with March 5, 2026 expiry rose 0.66%, rising ₹1,308. With this, the price of silver crossed ₹2 lakh per kilogram (silver price record high). At the time of writing, silver was trading at ₹2,00,250. Its high during this period was ₹2,00,362 and low was ₹1,96,956. The previous day, it closed at ₹1,98,942.
What are the latest gold and silver rates in your city?
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| City | Gold/10g (24K) | Gold/10g (22K) | Gold/10g (18K) | Silver per Kg |
|---|---|---|---|---|
| Patna | ₹133,680 | ₹122,540 | ₹100,260 | ₹198,340 |
| Jaipur | ₹133,740 | ₹122,595 | ₹100,305 | ₹198,410 |
| Kanpur | ₹133,790 | ₹122,641 | ₹100,343 | ₹198,490 |
| Lucknow | ₹133,790 | ₹122,641 | ₹100,343 | ₹198,490 |
| Bhopal | ₹133,900 | ₹122,742 | ₹100,425 | ₹198,650 |
| Indore | ₹133,900 | ₹122,742 | ₹100,425 | ₹198,650 |
| Chandigarh | ₹133,890 | ₹122,733 | ₹100,418 | ₹198,630 |
| Raipur | ₹133,840 | ₹122,687 | ₹100,380 | ₹198,550 |
Silver also reached an all-time high on IBJA
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The India Bullion and Jewellers Association (IBJA) also saw a sharp rise in gold and silver prices. According to IBJA rates, the price of 24-carat gold rose by ₹2,034 from the previous day to ₹1,30,569 (Gold Rate Today) on Friday morning. On Thursday, its price was ₹1,28,535 per 10 grams. Gold prices have increased by ₹7,207 in the past month. On November 12, 2025, the price of gold was ₹1,23,913 per 10 grams.
Silver also reached an all-time high on IBJA, reaching ₹1,92,781 per kilogram (Silver Rate Today). Its price the previous day was ₹1,86,988. This represents a significant increase of ₹5,793 compared to Thursday's price. Notably, silver prices have risen by ₹36,076 in the past month. On November 12, 2025, the price of silver was ₹1,56,705.
Will silver surpass ₹2.50 lakh in 2026?
According to Naveen Damani, Head of Commodity Research at Motilal Oswal Financial Services, silver's rally will be prolonged as global supply shortages are increasing. He estimates that silver could reach ₹2 lakh per kilogram (2026 silver target price) in the first quarter of 2026 and ₹2.4 lakh per kilogram (2026 silver target price) by the end of next year. Silver is also expected to reach $75 per ounce in dollar terms. Meanwhile, ProIntelliTrade Services estimates that silver prices may cross ₹2.50 lakh per kg in 2026.
Read More: Hindustan Zinc Soars by 4%: 3 Reasons Why Investors Are Eyeing Metal Stocks Right Now