The domestic price of silver on the futures market on MCX stood at Rs 2,13,965 per one kilogram of 999 purity on December 22 (10:15 IST), representing a 2.65 percent surge from its previous close.
The white metal's peak performance on MCX was recorded at Rs 2,02,899 on December 19, 2025.
The spot price of silver too surged just above $69 an ounce on Monday, up 3.26 percent in a day and up 8.44 percent in a week.
City-wise silver prices in India Today
Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.
| City | 1 Kilogram (₹) |
|---|---|
| Chennai | 2,31,000 |
| Mumbai | 2,19,000 |
| Delhi | 2,19,000 |
| Kolkata | 2,19,000 |
| Bangalore | 2,19,000 |
| Hyderabad | 2,31,100 |
| Kerala | 2,31,100 |
| Pune | 2,19,000 |
| Vadodara | 2,19,000 |
| Ahmedabad | 2,19,000 |
| Source: Goodreturns |
Why are silver prices rising?
According to a commodities analyst, silver is entering a phase where risk management becomes as important as conviction. Silver would probably break the all-time high again before retracing and moving up again, reflecting the strength of underlying momentum.
Outlook: Will silver regain momentum this week?
“The rally has been driven by a powerful mix of global rate cuts, rising liquidity, a softer dollar, and structurally strong industrial demand. However, the pace of the move suggests prices are technically overbought in the near term, increasing the likelihood of consolidation or a corrective phase. This should not be mistaken for a breakdown in the trend,” said Justin Khoo, Senior Market Analyst - APAC, VT Market.
“Any retracement would likely be a healthy reset that improves the risk-reward for fresh participation. Medium-term fundamentals remain constructive, supported by monetary easing and continued demand from the energy transition and technology sectors. Overall, the broader bias remains upward once volatility eases,” said Justin Khoo, Senior Market Analyst - APAC, VT Market.
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