Silver Rate Today in India: On Monday, December, 29, silver made history. Silver prices reached their highest all time ever when traded on Multi Commodity Exchange (MCX) at 2.50 lakh per unit. In initial trading, silver prices shot up by almost 6 percent with March futures reaching an all time high of around ₹2,54,174 per kilogram.
It translates to the fact that silver prices increased almost 12000 per kilogram in a day, leaving a large volatility and excitement in the market.
Silver Rallies Strongly Over the Week, Gains 15 Percent
This sudden increase in silver prices did not occur in a day. Silver has already been increasing almost 15 percent in the MCX within the one week alone. During a reduced trading week, the price increased by over 31,000 per kilogram. Silver had already hit ₹2,42,000 per kilogram earlier in Friday, but it is now already well beyond that mark.
Why Are Silver Prices Rising So Rapidly?
The causes of this great surge in silver prices are a few. The most significant is a global shortage in supply that is still being experienced in the last seven years and demand keeps increasing. Silver is currently widely applied in solar panels production, electric cars (EVs), and electronics like mobile phones and laptops.
The increased attention to renewable energy and new technologies has advanced the silver demand to unprecedented heights, and this imbalance in the supply-demand has caused a sharp increase in the prices.
Will Silver Prices Rise Further?
Market analysts think that the ongoing trend in silver prices is not exhausted yet. According to the analysts, the prices of silver may rise to 2.75 lakh kilogram per kilogram in the coming years. As long as the global demand is high, 2026 also can be a very lucrative year as an investor in silver.
Should You Buy or Sell Silver Now?
The questions a lot of retail investors are asking themselves is this the right time to buy silver or book profits by selling what they already have. Analysts recommend that individuals who bought silver previously at a low price can sell at the moment to reap profits. Nonetheless, new investors can be prudent to wait because the prices have sharply increased within a limited time.
The silver to the long-term investors is still an appealing investment choice even when there is a short-term fluctuation.
