Silver price today: Rates smash records, up 131% in 2025; check prices in your city

Silver price today

Silver continues to set record highs, fueled by industrial demand. The domestic futures price of silver on MCX peaked at Rs 2,15,883 per one kilogram of 999 purity on December 23 (10:24 am IST), representing a 1.42 percent surge from its previous close of Rs 2,12,872.

The white metal’s previous peak performance on MCX was recorded at Rs 2,14,583 on December 22.

The spot price of silver also surged just above $69 an ounce on Tuesday, up 0.73 percent in a day and up 9.09 percent in a week.

According to the Augmont Bullion report published on December 22, silver's futures contract has increased 131 percent this year, reaching $69.5, breaking 15 records in the process.

“Mining disruptions and limited current silver inventories are causing severe supply shortfalls, driving prices higher. Potential interest rate reduction in the United States and a lower dollar are expected to continue to boost speculator demand for silver, not to mention any geopolitical tensions that would generate keener safe-haven demand for silver,” the report stated.

The Augmont report predicts that if silver continues its bullish momentum, the next target is $70 (Rs 2,16,000) and $72 (Rs 2,22,000). Strong support lies at 64.50 (~Rs 200,000).

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. 22

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

According to the Augmont report, technically, silver stays positive on both the long and short-term charts. However, silver is in the midst of a mature bull market run, and it is quite likely that the market will need to pause in the next few months. Raw commodities, especially metals, are highly cyclical and have distinct phases of boom and crisis.

“There is no doubt that silver is now in a boom cycle. That suggests the following phase will be a bust cycle. The only uncertainty is the start date of the bust. The scale of the silver bubble, as seen by the monthly continuation chart for nearby silver futures, suggests that the magnitude of the crash will be substantial as well,” the report, citing Renisha Chainani, Head (Research), Augmont, stated.