Silver continues to set record highs, fueled by strong investment and industrial demand. The spot price of silver reached its peak performance, just above $72 an ounce, on December 24 (9:42 am IST), up 1.14 per cent in a day and 9.03 per cent in a week.
The domestic futures price of silver on MCX also broke its previous record and hovered around Rs 2,23,699 per one kilogram of 999 purity on Wednesday, representing a 1.83 percent surge from its previous close of Rs 2,19,693.
The white metal’s previous peak performance on MCX was recorded at Rs 2,20,490 on December 23.
Why are silver prices rising?
According to the Augmont Bullion report published on December 23, the spot price of silver has surged, reaching new highs due to expectations of looser US monetary policy and rising geopolitical tensions.
"Silver is closing 2025 firmly in macro-hedge territory rather than trading as a conventional commodity. Silver continues to outperform on a relative basis, benefiting from its dual role as a monetary metal and an industrial asset, positioning it for further upside after any near-term retracement.
"With expanding U.S. debt issuance, persistent geopolitical uncertainty, and potential volatility from global carry-trade unwinds, particularly linked to Japan, precious metals remain strategically bid," said Justin Khoo, Senior Market Analyst - APAC, VT Market.
Check out below to see the prices of 1 kilogram of 999 purity silver.
| Date | Price (₹) |
|---|---|
| Dec. 23, 2025 | 2,11,000 |
| Dec. 22, 2025 | 2,07,727 |
| Dec. 19, 2025 | 2,00,067 |
| Dec. 18, 2025 | 2,11,020 |
| Dec. 17, 2025 | 1,99,641 |
| Dec. 16, 2025 | 1,91,975 |
Source: Indian Bullion Jewellers Association – 18:30 rate session as on Dec. 23
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 | 2,44,000 |
| Mumbai | 2,33,000 |
| Delhi | 2,33,000 |
| Kolkata | 2,33,000 |
| Bangalore | 2,33,000 |
| Hyderabad | 2,44,100 |
| Kerala | 2,44,100 |
| Pune | 2,33,000 |
| Vadodara | 2,33,000 |
| Ahmedabad | 2,33,000 |
Source: Goodreturns
Outlook: Will silver regain momentum this week?
"Silver’s parallel surge to new peaks highlights strong investment and industrial demand, indicating that precious metals are firmly back in focus as a strategic hedge against global uncertainty and currency volatility," said Rahul Gupta, Chief Business Officer, Ashika Stock Services.
The Augmont report suggests that silver's uptrend is intact until prices are trading above $67.50 (~Rs 209,000) support.
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