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Silver prices in India rebounded on Tuesday after witnessing a steep sell-off in the previous session
Silver Prices Fall
Silver Prices Crash: Silver prices in India rebounded on Tuesday after witnessing a steep sell-off in the previous session. Globally, silver steadied after recording its sharpest single-day decline in more than five years, as traders locked in profits following a strong year-end rally.
On the MCX, silver jumped over 4 percent to around Rs 2.36 lakh per kg. In the previous session, March delivery contracts had crossed the Rs 2.5 lakh mark for the first time, touching Rs 2,54,174 on Monday. However, the rally was short-lived, with prices tumbling sharply by Rs 28,674 per kg, or 10.3 percent, to an intraday low of Rs 2,25,500.
In global markets, silver traded near $73 an ounce on Tuesday after plunging nearly 9 percent in the prior session. Gold, meanwhile, remained largely steady after registering its biggest fall in two months. The broader pullback across precious metals followed signals from technical indicators that prices had risen too rapidly, while thin liquidity conditions magnified price swings. Platinum and palladium also came under pressure after suffering double-digit losses.
Spot silver rose around 1 percent to $73.06 an ounce at 9:12 am in Singapore, after having earlier touched a record high of $84.01. Gold hovered near $4,343.13 an ounce.
Silver has delivered one of the most dramatic rallies in global commodity markets in 2025, emerging as a standout performer among precious metals. The surge has been supported by central-bank buying, strong ETF inflows and three interest rate cuts by the US Federal Reserve. According to a report by Motilal Oswal Financial Services Ltd (MOSL), the rally has not been driven by short-term speculation or overheated positioning, but by deep structural changes taking place in the global silver market. MOSL believes the uptrend in silver prices is structural rather than cyclical in nature.
Let us look at the price rates of silver in different cities of India
Prices in India correct in sync with global trend
MCX silver prices generally follow global silver prices, moving in line with COMEX trends and currency changes.
Currently, silver prices in India are down 0.04%, with one kg trading at Rs 2,33,480/kg, while the price of 10 gram silver today is Rs 2,334.80.
For city-wise rates, the white metal is trading at Rs 233.76 per gram in Mumbai, followed by Delhi, where the silver rate is Rs 223.21 per gram, which is Rs 10.27 lower than the silver rate in Mumbai.
The silver rate in Chennai is Rs 224.25 per gram, while the silver rate in Hyderabad is Rs 223.95 per gram. The silver rate in Ahmedabad is Rs 223.89 per gram.
These differences in city-wise prices mainly arise from local taxes, transportation costs and demand levels.
Silver rally: Next target?
According to MOSL, silver price rally is rooted in real metal scarcity and is not just speculative.
It explained that beyond supply constraints, sustained industrial and investment demand has reinforced silver’s price strength. Its growing use in electronics, renewable energy and other technology-driven sectors has ensured steady industrial offtake, while investors have increasingly viewed silver as a strategic hedge amid macroeconomic uncertainty.
Navneet Damani and Manav Modi, Commodities Analyst at MOSL noted, “Silver’s 2025 rally is being shaped by real metal scarcity rather than speculative positioning. Physical deficits, policy-driven supply restrictions, and concentrated inventories are increasingly dictating prices, signalling a durable shift in how the silver market is priced and traded.”
From an investment perspective, MOSL said it continues to maintain a buy-on-dips approach with a staggered investment strategy. While its initial target of $75 on COMEX has already been achieved, the brokerage reiterated its next target of $77 on COMEX, equivalent to around Rs 2,46,000 in the domestic market. Any further revisions to this outlook, the report noted, will depend on how supply dynamics, inventory trends and policy developments evolve over time.
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December 30, 2025, 10:52 IST
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