On January 20, gold and silver prices once again created history in the Indian bullion market. For the second consecutive day, both precious metals touched fresh all-time highs. According to the India Bullion and Jewellers Association (IBJA), gold prices jumped by ₹2,429 to reach ₹1,46,375 per 10 grams. A day earlier, gold was trading at ₹1,43,946. This means gold has already become costlier by ₹13,180 in just the first 20 days of this year.
Silver showed even stronger momentum. For the first time in the physical bullion market, silver crossed the ₹3 lakh mark and climbed to ₹3,04,863 per kilogram. Today alone, silver gained ₹10,888. Yesterday, it was priced at ₹2,93,975 per kg. On MCX, silver had already crossed ₹3 lakh earlier, but today the spot market also confirmed this historic level.
In just 20 days of 2026, silver has surged by nearly ₹74,443 per kilogram. Such a sharp rise in a very short time has grabbed the attention of both investors and traders.
1. How much did Gold and Silver rise in 2025?
In 2025, gold recorded a massive rally of about 75%.
On December 31, 2024, 24-carat gold was priced at ₹76,162 per 10 grams, which rose to ₹1,33,195 by December 31, 2025. This means gold became costlier by nearly ₹57,000 in a single year.
Silver outperformed even gold.
On December 31, 2024, silver was priced at ₹86,017 per kg, and by December 31, 2025, it jumped to ₹2,30,420 per kg. That is an increase of about 167% in one year.
2. Key Reasons Behind the Rally in Silver
• Strong Industrial Demand: Silver is heavily used in solar panels, electronics, and electric vehicles (EVs). It is no longer just a jewellery metal but a critical industrial raw material.
• Tariff Uncertainty: Fears of new trade tariffs have encouraged US companies to stockpile silver, reducing global supply and pushing prices higher.
• Competition Among Manufacturers: Manufacturers are buying in advance to avoid future shortages, which is keeping demand extremely strong.
3. How High Can Silver Go This Year?
Market experts believe silver still has strong upside potential.
• Motilal Oswal Financial Services expects silver to reach ₹3.20 lakh per kg.
• SAMCO Securities believes prices can touch ₹3.94 lakh per kg based on technical strength.
• Commodity expert Nilesh Surana says silver may hit $100 per ounce, which translates to about ₹3.5–4 lakh per kg in India.
• Ponmudi R, CEO of Enrich Money, advises buying on every small dip for long-term gains.
• Global investor Robert Kiyosaki has even suggested that silver could shock markets by reaching $200 per ounce in the long term.
4. Why Gold Is Also Rising Strongly
• Weak US Dollar: Expectations of interest rate cuts in the US have weakened the dollar, making gold more attractive.
• Geopolitical Uncertainty: The Russia–Ukraine war and rising global tensions are pushing investors toward safe-haven assets like gold.
• Central Bank Buying: Countries like China are aggressively adding gold to their reserves, increasing global demand.
5. What Does This Mean for Investors?
Today’s prices show that both gold and silver are in a strong bullish phase. Silver at ₹3.05 lakh and gold at ₹1.46 lakh reflect high confidence in precious metals. Short-term corrections are possible, but from a long-term perspective, both metals are considered strong and reliable investment options.
Author: GS24Live Market Desk
Last Updated: 20 January 2026
Keywords: silver price today 3.05 lakh, gold price today 1.46 lakh, bullion market today, silver all time high India, gold market update