COMEX silver hits fresh high on cues from gold, growing supply concerns
This story was originally published at 11:37 IST on 14 October 2025
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--COMEX December silver contract hits new record high of $52.42 per ounce
MUMBAI - Futures contracts of silver on the COMEX touched fresh peaks tracking prices of gold on the COMEX due to growing expectation of further rate cuts by the US Federal Reserve and continuation of the US government shutdown. Silver prices also rose due to surging global supply concerns.
The US government shutdown, which entered its 14th day on Tuesday, led to safe-haven demand for both gold and silver. The shutdown is starting to impact the nation's economy, Reuters quoted US Treasury Secretary Scott Bessent as saying on Monday. "This is getting serious. It's starting to affect the real economy," the report quoted Bessent as telling Fox Business Network.
Meanwhile, 96.7% of traders are pricing in a 25-basis-point rate cut by the Fed this month, and 3.3% anticipate rates to remain unchanged at 4.00-4.25%, according to the CME Fedwatch tool. Prices of precious metals typically rise during times of economic and geopolitical uncertainties and low interest rate scenarios.
Growing supply concerns in London, the centre for dealing physical gold and silver, are also supporting prices. Stockpiles of silver in London drained early this year when traders stashed precious metals on planes and ships to send to the US to get ahead of possible tariffs, the Wall Street Journal reported. Silver supply has been in deficit since 2020, according to the Silver Institute, the report said.
Demand from both industrial and investment sectors – particularly for renewable energy applications – has kept silver consumption high, with a supply deficit projected for the fifth consecutive year in 2025, Kedia Advisory said in a note.
At 1134 IST, the most-active December silver contract on COMEX was up 0.6% from the previous close at $50.82 per ounce after hitting a high of $52.50 per ounce earlier in the day. End
US$1 = INR 88.79
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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