Silver prices witnessed a dramatic pullback on Monday (December 29) as profit-taking hit the momentum. The spot price of the precious metal tumbled approximately $12 after reaching an all-time high of $82.95. The price stands at just above $73 per ounce on December 30 (7:41 am IST), representing a gain of 2.02 per cent in a day and 2.78 per cent in a week.
Similarly, the domestic futures price of silver on MCX fell 12.12 percent from yesterday's peak performance at Rs 2,54,783, and closed the Monday session at Rs 2,23,900 per one kilogram of 999 purity. The price is 0.24 percent down from its previous close at Rs 2,24,429 per 1 kilogram.
Why is silver down?
The decline in the price of silver in the international market followed the profit-takers' rush for the exit as silver reached its all-time peak performance. Also, easing geographical tension between Russia and Ukraine softened the safe-haven demand.
"Global tensions—geopolitical conflicts, trade wars, sanctions, or financial instability—tend to boost silver demand through both safe-haven and strategic-use channels. Geopolitical fragmentation encourages countries and companies to secure critical inputs, including silver. Unlike gold, silver reacts not just to fear but also to policy responses, making it especially sensitive to prolonged global uncertainty," said Renisha Chainani, Head of Research, Augmont.
Check out below to see the prices of 1 kilogram of 999 purity silver.
| Date | Price (₹) |
|---|---|
| Dec. 29, 2025 | 2,35,440 |
| Dec. 26, 2025 | 2,28,107 |
| Dec. 24, 2025 | 2,18,983 |
| Dec. 23, 2025 | 2,11,000 |
| Dec. 22, 2025 | 2,07,727 |
| Dec. 19, 2025 | 2,00,067 |
Source: Indian Bullion Jewellers Association – 18:30 rate session as on Dec. 29.
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 | 2,80,900 |
| Mumbai | 2,57,900 |
| Delhi | 2,57,900 |
| Kolkata | 2,57,900 |
| Bangalore | 2,57,900 |
| Hyderabad | 2,80,900 |
| Kerala | 2,80,900 |
| Pune | 2,57,900 |
| Vadodara | 2,57,900 |
| Ahmedabad | 2,57,900 |
Source: Goodreturns
Outlook: Will silver regain momentum this week?
The Augmont Bullion report, published on December 28, noted the bull trend can continue until prices are trading above $75 (Rs 2,40,000).
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