Silver Rate Today Takes U-Turn, But Stays Close To Record Rs 2 Lakh Mark; Check Dec 13 Rates

Silver Rate Today: Silver prices in India saw a reversal on Saturday, December 13, as there was some consolidation after the record breaking run of the precious metal. The consolidation in the white metal coincided with the correction in prices of gold as well.

The sharp surge in silver prices comes as central banks continue to accumulate the white metal alongside gold. Unlike gold, silver is witnessing three-pronged demand, from central banks, the energy sector, and investors, providing strong support to prices. Here are the latest rates of silver in India today.

Silver Rate Today

The price of silver declined to Rs 198 per gram and Rs 1,98,000 per kilogram on Saturday, December 13. Silver rate in India has surged from Rs 1.7 lakh/per kiogram to Rs 1.98 lakh per kilogram in one month.

Meanwhile, gold rate in India for 24K, 22K, and 18K stood at Rs 13,391/gm, 12,275/gm, and Rs 10,043/gm respectively.

"Silver has climbed to an all-time high above $63.00 per ounce, underscoring the strength of the current bullish momentum, but its rapid ascent also calls for caution. At these elevated levels, the metal is technically overstretched, and entering fresh positions now carries an unfavourable risk-reward profile. The prudent approach is to wait for a healthy retracement before considering new trades. That said, the broader outlook for silver remains strongly supportive,"Justin Khoo, Senior Market Analyst - APAC, VT Markets.

The sharp surge in silver, gold and other metals has come as the retail inflation saw mild uptick in November. India's CPI inflation (aka retail inflation) stood at 0.7% in November, as per the Ministry of Statistics and Programme Implementation (MOSPI) data.

"Several base metals-such as copper, tin, and aluminium-have witnessed sharp price increases, alongside precious metals like gold and silver. However, the rise in prices of these base metals has been counteracted by subdued prices of steel and iron. The Bloomberg Industrial Metals Index rose by roughly 12% YoY in December till date. The surge in base metal prices has been driven by strong industrial demand from the renewable energy and AI sectors, US Fed rate cuts, and expectations of fiscal stimulus in China," explained Rajani Sinha, Chief Economist, CareEdge Ratings based on the CPI Data.