Silver Prices Hit Record High on Gold’s Record Rally, Pushing Up the Prices of Precious Metals

Mumbai, 22 Dec 2025: Silver shot up to an all-time high today after precious metals staged a strong rally with gold hitting record levels on mounting expectations of interest rate cuts by the US Federal Reserve, coupled with firm demand for global safe havens. Underpinned by firm international cues and a tightening supply situation, silver prices scaled lifetime highs in domestic as well as overseas markets.

Silver Prices in MCX Today Jumped 2.39% to ₹2,13,412 Per Kg.

Silver prices on Multi Commodity Exchange (MCX) surged by 2.39% to ₹2,13,412 per kg at around 9:15 am after touching a new high of ₹2,13,844 per kg in the morning trade. The strong buying interest was seen mirroring the record-breaking rally in gold as investors globally repositioned themselves on expectations of easier monetary policy in the United States, and ongoing geopolitical and macro-economic uncertainties.

Gold Rallies to Fresh Highs, Enhancing Silver and Precious Metals

Gold prices held steady with silver. MCX Gold February futures were up by 0.77% to ₹1,35,224 per 10 grams. International spot gold rose 1.2 percent to an all-time high of $4,391.92 per ounce. The strength in gold gave a direct lift to silver (monetary and industrial precious metal) amidst economic uncertainty.

Spot Silver ͏Touches Historic $69.23 ͏Per Ounce on Global Rate Cut Expectati͏ons

In overseas trade, spot silver rose 2.7% at 03:44 GMT to a record high of $69.23 an ounce. The rally was backed by growing belief that the US Federal Reserve may be getting closer to reducing interest rates in the coming months, which would lower the opportunity cost of holding non-yielding assets like silver and gold. Lower rate expectations also undermined the U.S dollar, providing further underpinning to precious metal prices.

Platinum Up 4.1% to $2,054.25, Palladium Advances 4% As Metals Rally Broaden

The surge was not limited to silver and gold. Platinum prices rose 4.1% t͏o ͏$2,054.25, marking their highest level in over 17 years, while palladium rose 4% to $1,781.32, a near three-͏year high. The broad based rally underscored bullish risk-off positioning across the precious metals spectrum, both driven by investment demand and supply-side worries.

Silver Up 138% Year-To-Date, Outperforms Gold on Tighter Supply and ETF Inflows

Silver has surged a staggering 138% so far this year, pushing g͏old behind. The strong rise has been underpinned by huge capital inflows into silver backed exchange-traded funds (ETFs) and persistent supply constraints. According to the market analysts. “Physical availability is still tight, while industrial and investment demand is strong, continuing to push the prices up”.

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