Silver Surges by ₹17,000 in a Single Day, Momentum Still Strong — How High Can Prices Go?

New Delhi: After gold’s historic rally, silver has emerged as the biggest surprise performer of 2025, delivering explosive gains and heading toward its best annual performance in 46 years. On Friday, silver prices witnessed a dramatic jump, rising by more than ₹17,000 in a single session to touch a new lifetime high.

On the Multi Commodity Exchange (MCX), silver surged to an intraday high of ₹2,42,000 per kg before settling at ₹2,40,935 per kg. In the international market, silver prices on COMEX climbed to a record $79.70 per ounce.

Silver Nears Global Asset Milestone

The rally has pushed silver close to becoming the second most valuable asset in the world, after gold. Its global market capitalization has reached approximately $4.4 trillion, placing it just 4.5% shy of overtaking Nvidia.

At Friday’s close, Nvidia’s market capitalization stood at $4.638 trillion, making it the world’s most valuable company. If silver surpasses this mark, it would become the world’s second-largest asset by value, behind only gold.

Prices Have Nearly Tripled

Silver has delivered extraordinary returns this year. From its 52-week low of $27.545 per ounce, prices have surged by nearly 190%. Market experts believe that in the short to medium term, silver could rally further toward the $100 per ounce level.

What’s Driving the Silver Boom?

Analysts attribute the sharp rise in silver prices to a powerful combination of factors:

• Rising safe-haven demand, as global economic and geopolitical uncertainty persists
• Rapidly growing industrial consumption, especially in clean energy and advanced technologies
• Chronic supply shortages, with production lagging behind demand

Currently, global silver production is estimated at around 850 million ounces, while annual demand has surged to nearly 1.16 billion ounces, creating a significant supply deficit.

Industrial Demand Adds Fuel

Beyond investment demand, silver’s role in next-generation technologies is transforming its outlook. The metal is a critical raw material in solid-state batteries, a breakthrough technology capable of fully charging a smartphone in just 10 minutes.

Additionally, silver demand continues to rise sharply in electric vehicles (EVs) and solar energy, further tightening supply.

Supply Disruptions Intensify the Rally

Geopolitical tensions have also played a role. Ongoing friction between the United States and Venezuela has disrupted traditional Caribbean shipping routes, affecting silver exports from Peru, the world’s largest supplier. These logistical challenges have further constrained global supply.

Outlook: More Upside Likely

With demand outpacing supply, industrial usage expanding rapidly, and investor interest rising, analysts believe silver still has substantial upside potential. If current trends continue, the metal may remain one of the strongest-performing assets in the global commodity markets in the coming months.

As 2025 draws to a close, silver’s message to investors is clear: the rally may be far from over.