Silver Prices Hit Lifetime High of ₹1,29,752 per Kg in Domestic Market, Track Global 14-Year High

New Delhi, Sep 16, 2025 – Silver prices in the Indian domestic market surged to fresh record highs of ₹1,29,752 per Kg on Tuesday. The futures on the Multi-Commodity Exchange (MCX) are also scaling new peaks. The rally in the futures is mostly supported by safe-haven demand, expectations of a US Federal Reserve rate cut, and bullish global cues.

Domestic Market Rally

As of September 16, 2025, silver futures, which have December delivery on MCX, jumped to ₹1,29,720 per kilogram, marking an increase of ₹291 or a 0.22% increase. The rally further continued as the futures touched a lifetime high at ₹1,29,752 per kilogram. Along with futures for December, futures for March were aslo on an upward rally as they rose to ₹1,31,135 per kilogram, an increase by ₹270 or 0.20%. This also marked yet another fresh peak. The average traded price on MCX hovered around ₹1,29,565.61. This reflects that there is a firm buying momentum for silver futures.

Lifetime Range

As the futures touched a new lifetime high, the trading band of silver has also expanded sharply. Now the band ranges from ₹97,515 on the lower end to the newly established record of ₹1,29,752 per kilogram on the upper end. This expansion underscores a remarkable appreciation in recent years.

International Trends

Silver futures for December delivery have also been on a high in the international market. They rose by around 0.32% to USD 43.09 per ounce. This marks their highest level in 14 years. The surge is majorly driven by expectations that the Fed’s easing cycle may extend into 2026. The market is also responding to the elevated geopolitical tensions that have continued to boost safe-haven demand.

Key Drivers of The Rally

The rally in the price of silver futures is being accelerated by the expectations of a positive outcome of the US Federal Reserve’s policy meeting, which is scheduled for this week. US macroeconomic data, such as retail sales and industrial production, are due later in the day and are expected to provide further insights into the strength of the American economy.

Further, the central bank’s quarterly economic projections, the dot plot, and Chair Jerome Powell’s remarks are expected to offer crucial guidance on the pace and extent of future rate cuts. Overall, the building political pressures and leadership disputes surrounding the Fed have added another layer of market sensitivity to contribute significantly to the rally.

Outlook

As several international factors contribute to the rally in silver prices, it continues to shine as one of the strongest-performing safe-haven assets globally. As it has had a series of record highs in both domestic and international markets in the past few sessions, its bullish momentum is likely to persist. The rally has made it a preferred hedge against uncertainty in the months ahead.

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