Nagpur: As Dhanteras draws near, silver has leapt to unprecedented highs in the Indian market. The precious metal’s price has now breached ₹1,80,000 per kilogram (or ₹180 per gram), marking an all-time peak.
This rally is even more striking when viewed over a longer horizon — silver has risen by 187.3 % over the past five years, underscoring its transformation into one of the most lucrative investment plays in recent times.
Why the Sharp Spike?
Market watchers say several factors are driving this historic surge:
Gold Rate
11 Oct 2025
- Festive Demand & Ritual Buying: With Dhanteras approaching, demand for silver coins, idols, and utensils surges sharply, pushing up local premiums.
- Industrial Demand Explosion: Silver is critical in solar panels, electronics, EVs, and other clean-tech industries. Rising usage is tightening supply.
- Safe-Haven Appeal: Investors are shifting to precious metals amid global uncertainty and inflation fears.
- Import & Supply Constraints: Limited domestic mining output and challenges in importing silver have squeezed supply.
- Weak Rupee / Currency Impact: A weaker rupee against the dollar inflates the cost of imported silver, feeding into local prices.
- Domestic Premiums & Grey-Market Activity: In many cities, grey-market rates are higher than benchmark (spot) prices, reflecting local scarcity.
Rate Snapshot for Nagpur & India
- In Nagpur, the silver rate has climbed to around ₹1,80,000 per kg (₹180 per gram).
- Earlier reports had placed Nagpur’s rate at ~ ₹1,57,000 per kg (₹157 per gram) in recent days.
- On the MCX futures front, silver is trading around ₹1,45,410 per kg for the December contract.
- Globally, silver is hovering near historic highs in US dollar terms, elevating the base price for Indian markets.
Given local premiums, transport, taxes and demand factors, the retail rate in Nagpur has surged past ₹1.8 lakh.
Dhanteras & Investment Implications
With Dhanteras on the horizon, jewelry shops, temple trusts, and household buyers are actively sourcing silver idols, coins, and utensils—accelerating demand further. Historically, this seasonal demand adds an extra upward push to prices.
