Silver price today: Spot price peaks near $75 amid tight supply and industrial demand

Silver Price Today

Silver continues to set record highs amid tight supply and industrial demand. The spot price of silver reached its all-time peak performance, just below $75 an ounce, on December 26 (7:00 am IST), up 4.19 per cent in a day and 11.46 per cent in a week.

The domestic futures price of silver on MCX closed the Thursday session at Rs 2,23,730 per one kilogram of 999 purity, after briefly hovering at its all-time high of Rs 2,24,830 during the day session.

Why are silver prices rising?

According to the Augmont Bullion report published on December 24, the spot price of silver is up more than 140 percent, 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. 24

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 inflation concerns, fiscal stress, and real-rate uncertainty remain supportive for 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.