Silver price today: Silver prices jumped around 5% to cross the $75/oz mark for the first time on Friday, December 26, as escalating geopolitical tensions aided the historic rally in the white metal. Silver rates in India were also at record high levels following the global Silver record run.
Rising speculations of further rate cuts by the US Federal Reserve in January also aided the sentiment. Moreover, Gold prices also hit a new high in today’s deals.
rose for a fifth straight session, climbing nearly 5% to a record high of $75.14 an ounce. Meanwhile, US gold futures February contracts rose by 0.7% to a record high of $4,533.60 per ounce.
Back home, MCX silver March futures surged 4% to a record high of ₹2,32,741 per kg while MCX gold February futures also rose by 0.65% to hit a record high of ₹1,38,994 per 10 grams.
Silver’s performance this year has been particularly striking. The metal has surged 138% over the past one year, 99% in six months, 59% in three months, and 39% in one month, highlighting both the speed and scale of the rally.
What’s driving silver’s glittering rally?
The recent rise in the white metal has been supported by strong speculative inflows and persistent supply dislocations across key trading centres, lingering since a historic short squeeze in October.
In addition, geopolitical tensions in Venezuela—where the US has blockaded oil tankers and intensified pressure on the government of Nicolás Maduro—have further boosted silver’s appeal as a safe-haven asset.
At the same time, market participants are betting that the will continue to ease interest rates going into 2026, even though the Fed’s dot plot currently points to room for only one rate cut—an environment that typically favours non-yielding assets such as precious metals.
This optimism has held firm despite a strong third-quarter GDP reading, which suggests the US economy remains on a solid footing. Investors are also hopeful that the next Fed Chair could take a more dovish stance than Jerome Powell and align more closely with US President Donald Trump’s preference for lower interest rates.
Silver is now on track for its best annual performance since 1979. The broader rally across precious metals has been underpinned by elevated central-bank buying and steady inflows into exchange-traded funds. Alongside this, strong industrial demand and robust inflows have further supported silver prices. The metal remains a critical component of the global supply chain, with applications ranging from electronics and solar panels to coatings used in medical devices.
“What sets silver apart is its wide application in industrial uses. In the modern sunrise industries like EVs, solar energy, manufacture of electronic devices mobile phones etc silver is used. The impressive growth of these industries have pushed up the demand for silver. In the absence of corresponding increase in supply of this scarce metal, price has shot up. There can be some profit booking, but silver prices are likely to remain resilient,” said V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
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