Record-Breaking Performance on December 19
Silver prices soared to unprecedented levels on Friday, December 19, 2025, driven by a persistent supply-demand imbalance. Spot silver reached a new all-time high of $67.45 per ounce during the session, while on the Multi Commodity Exchange (MCX) in India, prices touched a lifetime peak around Rs 2,08,000–2,09,000 per kg before modest profit-taking led to a slight retreat.
This surge marks one of the strongest years for the white metal, with prices more than doubling from the start of 2025 amid robust investment inflows and industrial offtake.
Demand Outpaces Constrained Supply
The rally is underpinned by a structural market deficit that has persisted for five consecutive years. Industrial demand remains the primary driver, fueled by silver’s superior electrical conductivity—essential for applications in solar panels, electronics, electric vehicles, medical devices, and emerging technologies like AI data centers.
Silver Rates in Delhi (per Gram basis)
| Quantity (Grams) | Today (₹) | Yesterday (₹) | Change (₹) |
|---|---|---|---|
| 1 | 214 | 209 | +5 |
| 8 | 1,712 | 1,672 | +40 |
| 10 | 2,140 | 2,090 | +50 |
| 100 | 21,400 | 20,900 | +500 |
| 1000 | 214,000 | 209,000 | +5,000 |
Analysts note that while mine production has stagnated (largely as a byproduct of other metals), demand has surged 15–20% over the past decade in key sectors. The Silver Institute projects ongoing deficits into 2026, with tight physical supply in markets like London exacerbating the squeeze.
Similar dynamics have propelled related metals, such as copper, to lifetime highs amid global industrial growth.
Profit Booking Limits Gains in Domestic Markets
In India, silver retreated slightly from peak levels due to fresh selling by stockists and retailers, as reported by industry associations. Despite the pullback, the broader trend remains firmly upward, amplified by rupee depreciation and global cues.
Gold and Silver Deliver Stellar Returns in 2025
This year has seen both precious metals post their best annual performances in decades, with silver significantly outperforming gold—gaining over 128% year-to-date compared to gold’s strong but lesser advance.
Experts highlight that after underperforming for nearly a decade post-2011, silver’s rally since 2023 has drawn renewed investor interest, shifting allocations toward the more industrially leveraged metal.
Positive Outlook for Precious Metals
Analysts maintain a bullish stance on silver and gold heading into 2026. Short-term trends appear supportive over the next 2–3 months, bolstered by currency volatility, elevated US debt levels, and geopolitical uncertainties.
Ongoing supply constraints, record ETF inflows, and resilient industrial demand—particularly in green energy—are expected to sustain upward pressure, even amid potential short-term corrections from profit-taking.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult qualified financial professionals before making any investment decisions.
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