The spot price of silver continues to set new records. It is now hovering around its all-time high of just above $66 an ounce as of December 18 (10:14 am IST), up 0.03 percent in a day and 4.2 percent in a week.
The domestic price of silver on the futures market on MCX opened the Thursday session at Rs 2,06,492, and continued to trade sideways at Rs 2,06,411 as of 10:20 am (IST), which is 0.49 percent down from its previous close. The white metal peaked at an all-time high of Rs 2,07,833 on the commodity exchange as recorded on Friday (December 17).
“Silver made history yesterday by closing at a record high, reaffirming that it’s far more than just a runner-up to gold. This move reflects growing confidence in precious metals as part of a well-diversified portfolio.
Investors are no longer viewing silver only through the lens of jewelry or industrial use. Yesterday's s milestone isn’t just about prices hitting a new high; it signals a broader recognition of silver’s evolving role in portfolios and in the global economy,” said Vijay Kuppa, CEO, InCred Money.
Check out below to see the prices of 1 kilogram of 999 purity silver.
| Date | Price (₹) |
|---|---|
| Dec. 17, 2025 | 1,99,641 |
| Dec. 16, 2025 | 1,91,975 |
| Dec. 15, 2025 | 1,93,417 |
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 | 2,24,000 |
| Mumbai | 2,11,000 |
| Delhi | 2,11,000 |
| Kolkata | 2,11,000 |
| Bangalore | 2,11,000 |
| Hyderabad | 2,24,000 |
| Kerala | 2,24,000 |
| Pune | 2,11,000 |
| Vadodara | 2,11,000 |
| Ahmedabad | 2,11,000 |
Why are silver prices rising?
“In an environment shaped by global uncertainty, inflation concerns, and persistent market volatility, silver is increasingly finding its place alongside gold as a portfolio stabiliser. Beyond its role as a store of value, silver is also a critical component of the modern economy, powering everything from smartphones and electric vehicles to renewable energy technologies. This dual demand, both financial and industrial, is pushing silver into a structurally stronger position,” said Kuppa.
Outlook: Will silver regain momentum this week?
According to a commodities analyst, silver is entering a phase where risk management becomes as important as conviction. Silver would probably break the all-time high again before retracing and moving up again, reflecting the strength of underlying momentum.
“The rally has been driven by a powerful mix of global rate cuts, rising liquidity, a softer dollar, and structurally strong industrial demand. However, the pace of the move suggests prices are technically overbought in the near term, increasing the likelihood of consolidation or a corrective phase. This should not be mistaken for a breakdown in the trend.
“Any retracement would likely be a healthy reset that improves the risk-reward for fresh participation. Medium-term fundamentals remain constructive, supported by monetary easing and continued demand from energy transition and technology sectors. Overall, the broader bias remains upward once volatility eases,” said Justin Khoo, Senior Market Analyst - APAC, VT Market.
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