Silver prices surged to a fresh lifetime high on Wednesday, gaining Rs 3,126 to touch Rs 1,84,727 per kilogram, while gold futures also climbed sharply, mirroring strength in the global bullion market. The sharp depreciation of the rupee, which slipped to a historic low against the US dollar, further amplified domestic price moves, analysts said.
On the Multi Commodity Exchange (MCX), gold futures for February 2026 rose by Rs 1,007, or 0.78 per cent, taking the contract to Rs 1,30,766 per 10 grams.Silver futures too extended their upside, with the March 2026 contract hitting an all-time high after jumping 1.72 per cent to Rs 1,84,727 per kilogram.
Commodity experts noted that the steep rise in the Silver Price in India was heavily influenced by currency weakness. On Wednesday morning, the rupee breached the 90 mark for the first time, slipping 6 paise to 90.02 per dollar amid relentless demand for the US currency and sustained foreign fund outflows.
Global Markets Support Domestic Upsurge
The rally in domestic bullion markets mirrored price action overseas. On the Comex, Gold for December delivery gained $29.3, or 0.7 per cent, to $4,215.9 per ounce. The February 2026 gold contract rose $39.3, or 0.93 per cent, to $4,260.1 per ounce.
Silver too logged impressive gains, with December silver futures rising 1.6 per cent to touch a record $58.90 per ounce, while the March contract climbed 1.62 per cent to $59.65 per ounce.
Expectations of Fed Rate Cut Lift Investor Sentiment
Analysts attributed the bullishness to growing confidence that the US Federal Reserve may cut interest rates next week.
“Gold rose towards a six-week high, supported by ongoing expectations of further monetary easing from the Federal Reserve,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
Rahul Kalantri, Vice-President (Commodities) at Mehta Equities, added that recent US macro data pointed to “mild economic softness”, lifting the probability of a rate cut to nearly 90 per cent. He noted that speculation about Kevin Hassett potentially replacing Jerome Powell as Fed Chair had injected a further dovish bias into market expectations.
Silver Rates Across Major Cities In India On Dec 3
Silver Rate In Delhi Today
The current silver price in Delhi stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Chennai Today
The current silver price in Chennai stand at Rs 201 per gram and Rs 2,01,000 per kg.
Silver Rate In Bengaluru Today
The current silver rates in Bengaluru stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Mumbai Today
The current silver rates in Mumbai stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Pune Today
The current silver rates in Pune stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Kolkata Today
The current silver rates in Kolkata stand at Rs 191 per gram and Rs 1,91,000 per kg.
| City | Per Gram | Per KG |
| Silver Rate in Delhi | 191 | 1,91,000 |
| Silver Rate in Chennai | 201 | 2,01,000 |
| Silver Rate in Bangalore | 191 | 1,91,000 |
| Silver Rate in Mumbai | 191 | 1,91,000 |
| Silver Rate in Pune | 191 | 1,91,000 |
| Silver Rate in Kolkata | 191 | 1,91,000 |
| Silver Rate in Hyderabad | 201 | 2,01,000 |
| Silver Rate in Ahmedabad | 191 | 1,91,000 |
| Silver Rate in Indore | 191 | 1,91,000 |
| Silver Rate in Lucknow | 191 | 1,91,000 |
| Silver Rate in Coimbatore | 201 | 2,01,000 |
| Silver Rate in Bhubaneswar | 201 | 2,01,000 |
| Silver Rate in Mysore | 191 | 1,91,000 |
| Silver Rate in Kanpur | 191 | 1,91,000 |
| Silver Rate in Salem | 201 | 2,01,000 |
| Silver Rate in Visakhapatnam | 201 | 2,01,000 |
| Silver Rate in Vijayawada | 201 | 2,01,000 |
| Silver Rate in Patna | 191 | 1,91,000 |