Silver prices in India rebounded strongly on Tuesday, December 30, after witnessing their sharpest single-day fall in five years a day earlier. Fresh buying emerged in both the spot and futures markets as investors returned after aggressive profit booking triggered fears of overheating in prices.
In the domestic market, silver prices jumped around 4 percent, while international prices also moved higher. On COMEX, silver was trading nearly 5 percent higher at $73.995 an ounce, though still well below the previous session’s all-time high of $84.
Analysts said the recovery came as traders adjusted positions following Monday’s sharp sell-off. Thin holiday liquidity also amplified price swings. Despite the near-term volatility, silver continues to enjoy strong structural support from tight supply and robust industrial demand.
Jigar Trivedi, senior research analyst at Reliance Securities, said silver remains well supported by demand from solar power, electronics and data centre infrastructure. However, he cautioned that stricter margin rules could cap sharp gains in the short term. The CME has raised margin requirements for silver futures, prompting leveraged traders to cut exposure after prices became technically stretched.
Trivedi expects Silver March futures to rise towards ₹226,000 per kg, supported by bullish global cues.
Delhi: ₹2,325 (10 gm), ₹23,248 (100 gm), ₹232,480 (1 kg)
Jaipur: ₹2,335 (10 gm), ₹23,348 (100 gm), ₹233,480 (1 kg)
Mumbai: ₹2,335 (10 gm), ₹23,351 (100 gm), ₹233,510 (1 kg)
Kolkata: ₹2,332 (10 gm), ₹23,320 (100 gm), ₹233,200 (1 kg)
Chennai: ₹2,342 (10 gm), ₹23,419 (100 gm), ₹234,190 (1 kg)
Bengaluru: ₹2,337 (10 gm), ₹23,369 (100 gm), ₹233,690 (1 kg)
Hyderabad: ₹2,339 (10 gm), ₹23,388 (100 gm), ₹233,880 (1 kg)
Nashik: ₹2,335 (10 gm), ₹23,351 (100 gm), ₹233,510 (1 kg)
Rajkot: ₹2,338 (10 gm), ₹23,382 (100 gm), ₹233,820 (1 kg)
Market experts advise investors to expect continued volatility in silver prices in the near term, even as the medium- to long-term outlook remains positive due to strong industrial demand and supply constraints.
