Silver prices began the year sub-$30 and have risen more than 170%, so far, with three more trade sessions still left for 2025. This puts the white metal
on course for its best calendar year performance ever since 1979, when it had risen 200%.
On the MCX, Silver prices are down 8% from the intraday high of ₹2.54 lakh per kg.
Speculative inflows, industrial demand, and supply deficit have been powering silver prices to increase, with analysts stating that trading positions on paper are now being covered with physical volume, and there is not enough supply to cover that demand.
On another note, Peter McGuire, the CEO of trading.com said it is too early to talk about shorting silver.
"If you would have told me that this time last year, I would have laughed, and I would have said I don't think it can get there, but now it has, and we have got a couple of days left of trade, so we might even punch out 180% and it's too early to talk about being short at the momentum and the upside is very strong, and let's just see where it rolls. But yeah, it's very dynamic trading at the moment," McGuire told CNBC-TV18 on Monday.
Vedanta's subsidiary Hindustan Zinc is the only listed Silver play in India. Promoter Vedanta still owns 61.9% stake in the company at the end of the September quarter. At the highs of the day, the stock had a market capitalisation of over ₹2.7 lakh crore.
Shares of Hindustan Zinc are now trading 3.2% lower on Monday at ₹616.6. The stock is down 6% from its intraday high of ₹656. The stock is up 40% so far in 2025, and most of the gains have come in the month of December.
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