Silver rates today extended losses on Wednesday, the last trading session of 2025 on profit booking after white metal posted a record rally this year.
The rate fell 7.5% or over ₹18,000 per kg to ₹2,32,228/kg. Meanwhile COMEX silver price inched close to $71 per ounce after hitting an intraday low of $70.315, declining 9% from previous close.
Meanwhile, rate was down a little over 1% or ₹1,550 to ₹1,35,116 per 10 gram.
Silver is on track for their strongest annual performance ever, capping off an exceptional year for precious metals. In 2025, has posted a dramatic rise of nearly 150%. Meanwhile, has surged 65%.
The rise supported by a combination of persistent geopolitical risks, a softer US interest rate environment, sustained purchases by central banks, and rising inflows into exchange-traded funds. Furthermore, Silver also crossed several key milestones during the year, benefiting from its growing strategic importance in the US, supply constraints, low inventories, and robust demand from both industrial users and investors.
Adding to the bullish backdrop, minutes from the Federal Reserve’s December policy meeting, released on Tuesday, showed that most officials felt additional rate cuts could be warranted if inflation continues to ease. However, policymakers remained divided over the timing and magnitude of any future reductions.
Geopolitical uncertainty also played a central role in boosting safe-haven demand. Lingering doubts over a Russia–Ukraine peace deal, escalating tensions in the Middle East, and strained relations between the United States and Venezuela all contributed to stronger investor appetite for gold and silver through the year.
Is the Silver price rally over?
After a sharp rally followed by a swift sell-off, silver prices have come under scrutiny, prompting investors to question whether the strong uptrend in the white metal has run its course. Market experts, however, believe the rally may be undergoing a shift rather than ending altogether, with demand dynamics evolving across industrial users and long-term investors even as short-term volatility persists.
According to Sugandha Sachdeva, the nature of participation in the silver market has changed meaningfully. “The white metal rally has not vanished; it has migrated from paper traders who rarely take delivery to industrial users who must secure supply to keep production lines running, to long-term investors and private vaults across Asia, London, and Singapore, away from exchange warehouses and outside the banking system,” Sachdeva said, highlighting how physical demand continues to underpin prices despite recent corrections.
From a perspective, analysts are closely watching key support levels on global exchanges.
Anuj Gupta pointed out that silver’s near-term direction hinges on its ability to hold critical price thresholds. “As I mentioned earlier, the COMEX silver price has a crucial support level at $70 per ounce. If this support is breached, the precious white metal may try to test $68 and $65 levels in the near term,” Gupta said. He added that traders should exercise caution, noting, “One should maintain a strict stop loss and avoid any selling position until the price is above $70.
Echoing expectations of consolidation rather than a sharp reversal, Renisha Chainani, Head of Research at Augmont, said silver prices are likely to move within a defined range after the recent surge and correction. She expects silver to consolidate between $70, which is roughly ₹223,000, and $78, around ₹250,000, following the sharp rally and subsequent sell-off witnessed this week.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.