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Informist, Monday, Dec. 29, 2025

 

--COMEX March silver contract hits new record high of $82.67 per ounce

--MCX March silver contract hits fresh record high tracking COMEX prices 

 

MUMBAI – Futures contracts of silver on the Multi Commodity Exchange of India hit fresh record highs on Monday, tracking gains in COMEX contracts. Prices of the precious metal surged on the COMEX due to fear of supply constraints, rising demand, and hope of further rate cuts by the US Federal Reserve.

 

The recent advance has been buoyed by speculative inflows and lingering supply dislocations across major trading hubs after a short squeeze in October, Bloomberg reported. Supply-side concerns intensified further as Chinese silver stockpiles dropped to their lowest level in a decade, Kedia Advisory said in a note. Inventories at Shanghai Futures Exchange warehouses fell to the lowest since 2015, while Shanghai Gold Exchange volumes hit a more than nine-year low following record Chinese exports exceeding 660 tonnes in October, it said.

 

Prices are also getting supported due to a rise in demand from jewellers, medical-device makers, electric-vehicle manufacturers, data-centre developers and especially solar-panel factories, The Wall Street Journal reported, citing Citigroup analysts. "Even though there's been a push away from solar in the US, countries in Europe and China are not slowing down with solar capacity installation, and that's consuming a lot of silver," the report quoted John Ciampaglia, chief executive of Sprott Asset Management, as saying.

 

Rising expectations of rate cuts by the US Federal Reserve in 2026 also supported silver prices. The market is pricing in at least two rate cuts in 2026. Typically, a lower interest-rate environment boosts the appeal of non-interest-yielding precious metals. 

 

"With strong gains already recorded in 2025, silver enters 2026 with a constructive but volatile outlook," Kedia Advisory said.

 

At 0919 IST, the most-active March silver contract on the MCX was up 4.9% at INR 251,404 per kg, after touching a record high of INR 254,174 per kg. The March silver contract on COMEX was up 4.2% at $80.4 per ounce, after hitting a record high of $82.67 per ounce.  End

 

US$1 = INR 89.92

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

 

Reported by Shreya Shetty

Edited by Vandana Hingorani

 

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