More Stories

Informist, Monday, Dec. 1, 2025

--COMEX March silver contract hits new record high of $58.61 per ounce

--MCX March silver contract hits new record high of INR 178,620 per kg

NEW DELHI – Futures contracts of silver hit fresh record highs on both the COMEX and the Multi Commodity Exchange of India Monday, driven by rising demand amid global economic uncertainty, expectations of lower interest rates in the US, and tightening physical supplies.

At 0919 IST, the most-active March silver contract on the COMEX was up 1.2% at $57.83 per ounce after touching a record high of $58.61 per ounce. On the MCX, the same-month contract was 1.6% higher at INR 177,843 per kilograms after hitting an all-time high of INR 178,620 per kg.

Silver prices rose on growing expectations that the US Federal Reserve will cut rates in December. Market sentiment further improved after reports that National Economic Council Director Kevin Hassett has emerged as the leading candidate to succeed Jerome Powell as Federal Reserve chair when his term ends in June. Hassett is seen favouring lower interest rates, aligning with the stance of US President Donald Trump.

According to the CME's FedWatch tool, 87.4% of traders are now pricing in a 25-basis-point rate cut in December while 12.6% of traders anticipate no change in interest rates. Typically, a lower interest rate environment boosts the appeal of non-yielding precious metals. 

In addition, silver prices rose amid concerns over supply. "Chinese inventories fell to their lowest level in a decade after record exports of over 660 tonnes in October. The sharp drawdown and recent shipments to London have tightened near-term availability, driving prices higher," SMC Global Securities said in a report Friday.

Silver has emerged as a dual-purpose asset, serving both as a critical industrial input and a hedge against macroeconomic instability. The white metal is used in grid infrastructure in renewable energy technologies and artificial intelligence-related applications. 

Kedia Advisory sees support for silver prices on the MCX at INR 163,975-INR 169,475 per kg. Resistance is seen at INR 177,980 per kg, and a breakout may extend gains toward INR 180,985 per kg, it added. "Physical demand remains robust. India's wedding season is lifting consumption while potential US tariffs on silver add a new layer of risk," the brokerage said in a note.  End

US$1 = INR 89.46

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

Reported by Afra Abubacker

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.