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Informist, Thursday, Dec. 11, 2025

--MCX March silver contract hits new record high of INR 193,452 per kg 

--COMEX March silver contract hits new record high of $63.25 per ounce 

MUMBAI – Futures contracts of silver hit a fresh all-time high on the Multi Commodity Exchange on Thursday, tracking a new high on the COMEX as the US Federal Reserve's Federal Open Market Committee in its latest policy statement announced a cut of 25 basis points in its key benchmark interest rates. The Fed cut the federal funds target range by 25 bps for the third straight meeting to 3.50-3.75%.

Prices also surged due to rising demand, dwindling visible inventories, the metal's entry into the US critical minerals list, and expectations of another supply deficit this year. Industrial demand, especially from solar and green technologies, continues to strengthen the medium-term outlook, Kedia Advisory said in a note. "People are anticipating that there's going to be strong industrial demand for silver for years to come, which is why it's been bid up, the silver price," Reuters quoted Fawad Razaqzada, market analyst at City Index and FOREX.com, as saying.

"Silver hasn't really paid attention to things outside and has been rallying all by itself. I don't think there's anything here that would necessarily suggest that silver is going to turn," Reuters quoted Ilya Spivak, head of global macro at Tastylive, as saying. Sectors including solar energy, electric vehicles and their infrastructure, and data centres and artificial intelligence will drive industrial demand higher through 2030, the Silver Institute industry association said in a research report.

Spivak added that the next level of significance for silver is somewhere on its approach to $64.

Silver is also getting a boost from worries that the US could target the metal in future tariffs after it was added to the Geological Survey's list of critical minerals last month, driving heavy inflows into the US and tightening supply elsewhere, The Wall Street Journal reported.

At 1146 IST, the most-active March silver contract on the COMEX was up nearly 2% at $62.11 per ounce, after touching a record high of $63.25 per ounce. On the MCX, the same-month contract hit another high of INR 193,453 per kg, up 1.1%.  End

US$1 = INR 90.29

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

Reported by Udita S. Jaiswal

Edited by Tanima Banerjee

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