More Stories

Informist, Friday, Sept. 12, 2025

 

--MCX Dec silver contract hits fresh record high of INR 128,612 per kg 

--MCX Mar silver contract hits fresh record high of INR 130,000 per kg

 

MUMBAI – Futures contracts of silver on the Multi Commodity Exchange of India hit fresh record highs, tracking those on COMEX due to rising hopes of a rate cut by the US Federal Reserve. Firm industrial demand from China also boosted silver prices on COMEX. 

 

At 1141 IST, the most-active December contract on MCX was up 1.1% at INR 128,340 per kilogram, after touching a record high of INR 128,612 per kg. The March silver contract on the MCX was up 1.1% at INR 129,828 per kg, after reaching the record high of INR 130,000 per kg. The most-active December contract on the COMEX rose 1.3% at a 14-year high of $42.65 per ounce.

 

Silver prices on COMEX crossed the $42 per ounce level for the first time since September 2011. The US unemployment claims for the week ended Saturday rose by 27,000 from the previous week to 263,000 claims, the highest level in almost four years. This means employers are laying off more employees. This has boosted the market to increase its bets on an interest rate cut by the US Fed later this month. 

 

According to the CME FedWatch tool, 92.7% of the market now prices in a 25-basis-point rate cut while 7.3% expect a 50-basis-point rate cut. Lower interest rate increases the demand for the non-interest-yielding metal. 

 

Firm gold prices amid ongoing geopolitical tensions and uncertainty over US tariffs on other countries also supported silver prices. Further, the industrial demand for the white metal also aided prices. "...Robust demand from solar energy, electric vehicles, and electronics kept the physical silver market tight amid supply constraints," Kedia Advisory said in a note. "China's solar cell exports surged by over 70% in H1 2025 (Jan-Jun), driven by shipments to India, supporting near-term physical offtake."

 

The MCX December silver contract has a key support at INR 126,800 per kg and the resistance at INR 129,600 per kg. On COMEX, support for the most-active December contract is at $42 per ounce and resistance is seen at $43.20 per ounce.  End

 

US$1 = INR 88.31

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Udita S. Jaiswal

Edited by Subhojit Sarkar

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.