Silver prices rebounded sharply on Tuesday, December 30, after witnessing their steepest single-day fall in nearly five years in the previous session. The recovery came as investors returned to the market following aggressive profit-booking that had triggered concerns over a potential bubble after silver’s rapid rally.
In the domestic spot and futures market, silver prices jumped around 4%, while on COMEX, silver surged 5% to USD 73.995 per ounce, though it remained well below its all-time high of USD 84 recorded in the prior session.
Why did silver prices rebound?
Market participants attributed the bounce to short-covering and bargain buying after Monday’s sharp sell-off. Analysts noted that holiday-thinned liquidity amplified the volatility, while silver’s nearly 180% surge in 2025 made it vulnerable to profit-taking at elevated levels.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, said that despite near-term volatility, silver continues to be supported by structural supply constraints and strong industrial demand, particularly from solar energy, electronics, and data centre infrastructure. He also pointed out that the CME’s decision to raise margin requirements has forced leveraged traders to pare positions, keeping gains capped in the short term.
According to Trivedi, March silver futures may appreciate towards ₹226,000 per kg, supported by bullish undertones in international markets.
Silver rate today in Delhi
In the physical retail market, silver prices in Delhi stood at:
- ₹2,325 per 10 grams
- ₹23,691 per 100 grams
- ₹232,480 per kg
Silver rates today in major Indian cities
As of 10:30 pm on December 30, silver prices across key cities were as follows:
- 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)
Precious metals slip again in early Wednesday trade
Despite Tuesday’s rebound, precious metals traded lower in early deals on Wednesday, December 31, amid weak sentiment across commodities.
As of 9:31 am IST, gold futures (February 2026) were trading at ₹1,35,721 per 10 grams, down ₹945 or 0.69%, as prices failed to sustain recent gains and profit-booking emerged at higher levels.
Silver saw a sharper correction, with March 2026 silver futures quoted at ₹2,32,929 per kg, plunging ₹18,083 or 7.20% in early trade. The steep decline weighed on the broader metals segment.
Meanwhile, crude oil futures for January 2026 slipped 0.17%, while natural gas futures declined 0.89%, reflecting cautious year-end positioning and reduced liquidity across global commodity markets.
