Silver rate today in India rebounded on Tuesday after witnessing a sharp sell-off in the previous session, while global prices stabilised following the steepest one-day fall in over five years as traders booked profits after a strong year-end rally.
On the MCX, silver prices jumped over 4% to ₹2.36 lakh per kg. In the previous session, March delivery contracts had crossed the ₹2.5 lakh mark for the first time, touching a record ₹2,54,174 before witnessing a sharp reversal. Prices later crashed ₹28,674 per kg, or 10.3%, to hit an intraday low of ₹2,25,500.
In the international market, silver traded near $73 an ounce on Tuesday after tumbling 9% in the previous session, while gold remained largely steady after its biggest drop in two months. The correction across precious metals followed signs of overheating in technical indicators, with thin liquidity amplifying price swings. Platinum and palladium also declined after double-digit losses.
Spot silver rose about 1% to $73.06 an ounce by 9:12 am Singapore time, after having touched a record high of $84.01, while gold hovered near $4,343.13.
Despite the volatility, silver remains one of the top-performing commodities of 2025, supported by central-bank buying, strong ETF inflows, and three US Federal Reserve rate cuts. According to Motilal Oswal Financial Services Ltd (MOSL), the rally is structural rather than cyclical, driven by deep shifts in the global silver market.
MOSL noted that 2025 marked the fifth consecutive year of a global silver supply deficit, as production failed to keep pace with rising industrial and investment demand. The brokerage highlighted China’s growing influence in the silver market, pointing to declining inventories and proposed export licensing requirements from January 1, 2026, which could further restrict global supply.
Commenting on the rally, Navneet Damani, Head of Research – Commodities at MOSL, said the silver market has moved beyond a conventional bull cycle and entered a structural phase, marked by prolonged physical deficits, inventory depletion, and policy-led supply constraints.
From an investment standpoint, MOSL continues to recommend a buy-on-dips strategy with staggered investments. While its initial COMEX target of $75 has already been achieved, the brokerage now sees the next target at $77, translating to around ₹2,46,000 in the domestic market, subject to evolving supply and policy dynamics.
Disclaimer
The views and recommendations expressed are those of individual analysts or brokerage firms and do not represent the views of the publication. Investors are advised to consult certified financial advisors before making investment decisions.
