Silver Prices Today: Silver futures on the Multi Commodity Exchange (MCX) kept their upward trend on Monday, jumping Rs 4,000. The March 2026 contracts have gained Rs 8,427, or 4.8 per cent, over the past week, even though they fell Rs 1,408, or 0.77 per cent, to Rs 1,82,000 per kg in intraday trading.
Last Friday, silver had recorded a historic high of Rs 1,85,234 per kg, gaining Rs 7,096 or 3.98 per cent, following the RBI’s Monetary Policy Committee (MPC) decision to cut the repo rate by 25 basis points to a three-year low of 5.25 per cent, which spurred buying across precious metals.
While domestic contracts rallied, COMEX March 2026 silver traded lower at USD 58.76 per ounce, down 0.50 per cent. The US Dollar Index (DX Dec 25) slipped to 98.855, down 0.11 per cent, offering mild support to metals. Experts believe strong domestic buying continues to drive MCX prices higher.
Silver’s long-term momentum
Despite short-term dips, silver prices continue to show strong long-term growth:
One-month gain: Nearly Rs 17,000
Year-on-year gain: 98 per cent
Two-year gain: 133 per cent
Three-year gain: 182 per cent
Ten-year gain: 419 per cent
Global market and Fed expectations
The cautious tone of US economic data has investors betting on an 87 per cent probability that the Federal Reserve will opt for a quarter-point rate cut at its December meeting on 10 December, according to CME Group’s FedWatch.
Rupee weakens
Meanwhile, the rupee weakened 16 paise to 90.11 against the US dollar in early Monday trade, pressured by elevated crude prices and persistent foreign fund outflows. Forex traders noted strong dollar demand from corporates, importers, and FPIs as the primary factor behind the slide.