Market Speak: Silver's meteoric rise slows, but bulls stay firm
12-Dec-2025
11:03
Silver bulls paused after an explosive week in which the metal gained nearly 9 percent, powered by strong industrial demand, safe-haven buying, and supportive macro conditions like low rates and a weak dollar. Starting the year below $30 per ounce, silver has delivered more than a 100 percent return, hitting a record $64.72 before easing to around $63.92 on COMEX today. In India, MCX March silver futures touched a fresh peak of ₹198444 per kg, coming within a whisker of the ₹200000 mark after rising nearly ₹50000 in under two months. Momentum remains strong as silver continues benefiting from its dual identity: a critical industrial metal and a reliable safe-haven asset. The Silver Institute's latest review highlights record prices, a liquidity squeeze, heavy CME vault deliveries, and rising strategic interest after its classification as a critical mineral. With global supply up only 1 percent and demand expected to fall 4 percent, the market is set for a fifth straight year of structural deficit. This persistent tightness keeps the long-term outlook bullish even as prices cool briefly.
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