Silver crosses ₹2 lakh per kg mark for 1st time:Rates leapfrog by ₹1 lakh in 9 months, in contrast to the snail’s pace of just ₹50,000 in 14 years

Silver on Wednesday, December 17, 2025, has crossed ₹2 lakh per kg for the first time. According to the India Bullion and Jewelers Association (IBJA), the price of one kg silver has increased by ₹8,775 to reach ₹2,00,750. Previously it was at ₹1,91,977. This year its price has increased by ₹1,14,733 . Meanwhile, gold today increased by ₹936 to reach ₹1,32,713 per 10 grams. Previously it was at ₹1,31,777. Gold had made an all-time high of ₹1,33,442 per 10 grams on December 15. Silver’s journey to ₹2 lakh per kg mark Note: Price is in rupees per kilogram, Source: Bank Bazaar Gold price by carat Source: IBJA (December 17, 2025) Gold prices in major cities of the country Source: goodreturns (December 17, 2025) Why are rates different in different cities?
IBJA gold prices do not include 3% GST, making charges, and jewelers’ margin. Therefore, city rates differ from this. RBI uses these rates to determine Sovereign Gold Bond rates. Many banks use it to set gold loan rates. Gold-Silver movement in 10 days Note: Weekly holidays were on December 6-7 and December 13-14. 4 Major Reasons for Silver Rally This year gold became costlier by ₹56,551 and silver by ₹1,14,733 How to identify genuine silver 7,700 Tons of Silver Consumption in 2024
India is the world’s largest silver buying country. In 2024, India consumed approximately 7,700 tons of silver. Of this total consumption, only 10-20% silver is found in India. The remaining nearly 80% silver is imported from abroad. In the country, silver is most commonly used in jewellery. There is also demand for it in the industrial, electronics, and investment sectors. Silver is used in solar panels, batteries, medical equipment, mobile phones, computers and LED lights. It is also used in manufacturing electrical vehicles. ​