Silver price today: Futures hit all-time high of Rs 2.53 lakh/kg on MCX, spot price near $83; check rates in your city

Silver price today

Silver continues to set record highs amid tight supply and industrial demand. The spot price of silver hit an all-time high at $82.95 an ounce on December 29 (4:45 am IST), and fell briefly to $80.40 (9:05 am), up 1.55 per cent in a day and 16.38 per cent in a week.

The domestic futures price of silver on MCX stood at its peak at Rs 2,53,280 per one kilogram of 999 purity on Monday (9:05 am), up 5.63 percent from its previous close at Rs 2,39,787.

Why are silver prices rising?

According to the Augmont Bullion report published on December 24, the spot price of silver has increased by more than 140 per cent, setting new records.

"Silver may consolidate but remains structurally bullish, with many models projecting $65-$80+ through 2026 as tight supply and industrial demand persist," said Justin Khoo, Senior Market Analyst - APAC, VT Market

Check out below to see the prices of 1 kilogram of 999 purity silver.

Source: Indian Bullion Jewellers Association – 18:30 rate session as on Dec. 26.

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.

Source: Goodreturns

Outlook: Will silver regain momentum this week?

Justin Khoo predicts that in the near term, silver is vulnerable to tactical profit booking as prices have rallied sharply and are trading well above medium-term averages, which typically invites consolidation.

"Silver’s higher beta versus gold means corrections tend to be faster and deeper. However, any pullback should be viewed as corrective rather than trend-ending, especially while concerns about inflation, fiscal stress, and real-rate uncertainty remain supportive of precious metals.

"The sharp compression in the gold-silver ratio signals relative exhaustion in silver’s outperformance, not a reversal for the metals complex. Historically, such moves are followed by phases where gold stabilises, and silver corrects. This points to rotation within precious metals, not a breakdown," said Justin Khoo.