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Silver Rate: Silver prices have surged sharply to ₹1.92 lakh per kg, while gold also remains strong. The market is closely monitoring the Fed's decision and global supply conditions. The question now is whether silver will reach the ₹2 lakh mark in December.

Silver Rate: Silver rose by ₹3,736, or 1.98%, to a record ₹1,91,800 per kg in the most-traded March contract on the Multi-Commodity Exchange (MCX). The metal had also jumped nearly ₹6,923 (3.80%) in the previous session to close at ₹1,88,665. According to market experts, global supply constraints, falling inventories, and increased buying by investors have driven silver to new highs for the second consecutive day.

Gold also rose, but within a limited range.

The February contract for gold futures rose ₹173 (0.13%) to reach ₹1,30,280 per 10 grams. Gold prices also remained stable around USD 4,200 in the international market as investors adopted a cautious stance ahead of the Federal Reserve's decision. The March 2026 silver futures contract on Comex rose ₹1.3 (2.14%) to USD 62.14 per ounce, its highest level ever.

Silver has gained USD 3.73 (6.4%) in the international market over the past two sessions. Investors say that steadily declining global supply, significant industrial demand, and potentially easing Federal Reserve policies have fueled silver's momentum. Additionally, the US inclusion of silver in the "Critical Minerals List" has also boosted investor confidence.

Strong Inflows into ETFs

Silver ETFs (Exchange Traded Funds) also saw historic investment. iShares purchased 324 tons of silver last week, the largest weekly inflow since July. Analysts believe this surge in ETF investment indicates that investors expect silver to remain strong in the coming months.

China Continues to Increase Gold Reserves, Central Banks Also Making Heavy Purchases

Central bank purchases remain a major factor in global gold demand. China has increased its gold reserves for the 13th consecutive month, bringing the total to 74.12 million troy ounces. According to experts, the rapid purchases by central banks are providing a strong long-term base for gold. There is widespread market expectation that the Federal Reserve may announce a 25 basis point rate cut. However, Fed Chair Jerome Powell may adopt a cautious stance on future policy, as inflation in the US remains a concern. Analysts say today's press conference, the dot plot, and the Fed's economic projections will determine the trend of gold and silver in the coming weeks.

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