Silver Rally Hits New Highs Before Sharp Correction Across Indian Cities

Silver Prices Surge, Then Correct Amid Global Rally

On December 29, 2025, silver prices in India mirrored global volatility, hitting record highs before retreating. Spot silver touched $84 per ounce, while futures peaked at $82.615 per troy ounce. Domestic markets saw retail prices surge across major cities, with MCX silver climbing to ₹2,40,935 per kg, marking a weekly rise of nearly ₹30,000.

Key Highlights:

• Delhi: ₹2,402 (10 gm), ₹24,017 (100 gm), ₹2,40,170 (1 kg).
• Jaipur: ₹2,532 (10 gm), ₹25,315 (100 gm), ₹2,53,150 (1 kg).
• Mumbai: ₹2,514 (10 gm), ₹25,137 (100 gm), ₹2,51,370 (1 kg).
• Kolkata: ₹2,510 (10 gm), ₹25,103 (100 gm), ₹2,51,030 (1 kg).
• Chennai: ₹2,517 (10 gm), ₹25,174 (100 gm), ₹2,51,740 (1 kg).
• Hyderabad: ₹2,514 (10 gm), ₹25,141 (100 gm), ₹2,51,410 (1 kg).
• Other cities: Bengaluru, Nashik, and Rajkot also reported prices above ₹2,40,000 per kg.
• Expert outlook: Ponmudi R, CEO of Enrich Money, noted support levels at ₹2,20,000-₹2,23,000, with potential upside toward ₹2,50,000-₹2,60,000 in 2026, driven by industrial demand and supply deficits.

The correction highlights silver’s volatility but reinforces its strong fundamentals, making it a key asset for investors heading into 2026.

Sources: Livemint, India Today, CNBC TV18, Enrich Money.