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Informist, Thursday, Nov. 13, 2025

 

--COMEX Dec silver contract hits fresh record high of $54.42 per ounce 

 

MUMBAI - Futures contracts of silver on the COMEX hit a fresh all-time high Thursday amid the reopening of the US government, which is expected to pave the way for the resumption of economic data releases. The market believes the pending data releases are likely to show signs of weakness, raising hope of a rate cut by the Federal Reserve in December.

 

In the US, the House of Representatives Wednesday took a procedural step towards ending the government shutdown by advancing a stopgap funding package aimed at restoring food assistance programmes, paying hundreds of thousands of federal workers, and reviving the hobbled air-traffic control system. The shutdown had suspended the release of key economic data, which is vital for the Federal Reserve to take any decision on the benchmark interest rate of the country.

 

Boston Fed President Susan Collins, who voted for a rate cut at the Fed's last two meetings, said Wednesday that she sees a "relatively high bar" for additional easing in the near term, citing worries about high inflation. Fed Governor Stephen Miran Wednesday reiterated his view that data showing inflation running above 2% was backward-looking and should not be taken at face value, and again described US monetary policy as too tight, primarily because he believes softening housing inflation was easing price pressures.

 

Lower interest rates typically boost demand for non-interest-bearing precious metals such as silver.

 

Silver prices were also supported by high demand amid tightening supplies. Strong demand from makers of solar panels and medical devices, as well as from investors worried about the US dollar and high stock values, have driven gains in silver, The Wall Street Journal reported. In India, supply concern also fuelled the rally, driven by strong seasonal demand from the wedding season in the country, Kedia Advisory said in a note.

 

The US' addition of silver to its list of 'critical minerals' also supported prices. The decision has raised speculation about future trade restrictions, further tightening the market outlook, Kedia Advisory said.

 

On Nov. 6, the US Geological Survey updated its list of critical minerals, adding around 10 minerals and metals, including silver. The list dictates what commodities are included in the Donald Trump administration's Section 232 probe into processed critical minerals and derivative products announced mid-April, which could lead to tariffs and trade restrictions, Blomberg reported. 

 

The strength in silver may continue through the rest of the year, Dow Jones quoted Peter Cardillo of Spartan Capital Securities as saying. "We expect this rally to continue throughout the rest of the year and reiterate that the true store of value and hedge remains the shiny metal," he said. 

 

At 1059 IST, the most-active December silver contract on COMEX was up 1.5% at $54.26 per ounce after hitting a high of $54.42 per ounce earlier in the day.  End

 

US$1 = INR 88.72

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

 

Reported by Shreya Shetty

Edited by Subhojit Sarkar

 

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