Silver Price: Silver prices rose by more than 15 percent last week and its price in the futures market reached a new record level of Rs 2.42 lakh per kg. This surge came due to strong industrial demand, expectations of interest rate cuts in the US next year and growing concerns of supply problems. The effect of this rise in the domestic market was also visible in the global market, where silver jumped by more than 11 percent in a single day to reach a new all-time high of $ 79.70 an ounce.
Price reached new record level of Rs 2,42,000 per kg on MCX
Registering gains for the fifth consecutive day on Multi Commodity Exchange (MCX), silver for delivery in March 2026 rose by Rs 18,210, or 8.14 percent, to reach a new record high of Rs 2,42,000 per kg. However, later it closed at Rs 2,39,787 per kg. In this week of 4 trading sessions due to Christmas holiday, the price of silver increased by Rs 31,348 or 15.04 percent since December 19. During this period, aggressive buying by traders was seen amidst sharp fluctuations.
Strong rise of 175 percent in silver prices this year
Silver has given excellent returns in the year 2025. Its price was Rs 87,233 per kg on December 31, 2024 and since then it has increased by Rs 1,52,554 per kg i.e. about 175 percent. Rahul Kalantri, vice president of commodities at Mehta Equities, said silver is no longer traded just as a precious metal like gold. Its essential role in high-performance technology, depletion of available reserves and industrial demand are reshaping its fundamentals.
Silver crosses $79 an ounce on Comex
Meanwhile, silver futures on Comex crossed the level of $ 79 an ounce for the first time. The March 2026 contract rose by $8.02, or 11.2 percent, to a record high of $79.70 an ounce, although it later closed at $77.19. Kalantri further said that prices are well supported by strong industrial consumption, consistent investment in exchange-traded funds, good physical demand and investors’ shift from equities to commodities.
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