Silver: Following a record intraday high of more than $84 per ounce declines

Silver: After hitting new intraday high of $84 per ounce in the spot market on Monday, silver prices in international markets fell precipitously.

Strong profit booking caused the white metal to drop as much as 8% from its top, ending what might have been a seventh straight day of gains.

As of 10.10 am, March silver futures on the MCX were trading at Rs 2,49,282 per kilogram, up 4.22 percent intraday. Globally, the futures had risen 7% on top of Friday’s 11% increase to an intraday high of $82.67 an ounce in early trading, the largest single-day gain since 2008.

Silver was continuing a run at such prices, surpassing even the extraordinary October supply squeeze.

Thin holiday trading, according to analysts, exacerbated the abrupt movements since low volume inflated price fluctuations. The rise is being supported by tighter inventories and swiftly depleting liquidity.

They pointed out that unlike gold, silver lacks a reserve since the London gold market is supported by almost $700 billion in bullion that may be loaned out in the event of a liquidity crunch.

With three trading sessions left in 2025, silver is up over 180% so far, putting it on pace for its highest yearly performance since 1979, when gains topped 200 percent.

“The rise was bolstered by a declining dollar index, growing global tensions, and Fed rate-cut predictions. In anticipation of more US monetary easing, the dollar index dropped for the fifth week in a row. “Safe-haven buying has also increased due to renewed US-Venezuela tensions,” said Rahul Kalantri, VP of commodities at Mehta Equities Ltd.

Silver had a significant increase in value in response to China’s planned export limits in January 2026, and investment flows into precious metals are still being driven by global uncertainty.

“Silver has resistance at Rs 2,41,810-Rs 2,43,470 and support at Rs 2,38,810-Rs 2,37,170,” he said.