If you thought that only gold was the most expensive, now the picture has changed. Silver has done wonders by bringing a tremendous surge in the market. What was once called poor man’s gold, today the same silver is giving equal competition to gold. On December 3, 2025, Silver made a new record high of ₹1,84,727 per kg with a huge rise of ₹3,126. Gold futures also followed the strong global trend and reached ₹1,30,766 per 10 grams. The biggest reason for this surge is the huge fall of the rupee. The Indian Rupee slipped to all-time low against the Dollar and the same pressure pushed both gold and silver higher. The entire market was in action on MCX also. Gold February 2026 futures rose ₹1,007 to ₹1,30,766, while Silver March 2026 futures rallied ₹3,126 to hit ₹1,84,727 again at its all-time high. Silver is also trading near record levels in global markets. A sharp rise of about 17% has been seen in the last seven sessions, which was supported by US monetary easing expectations and supply tightness. Silver is trading around $58 in the international market, while gold is stable around $4,200. US Federal Reserve’s expected rate cuts have a big impact on global sentiment and amid this buzz, Comex Silver December contract rose 1.6% to $58.90 per ounce and March contract reached lifetime high of $59.65 per ounce.