After suffering its steepest single-day decline in nearly five years, silver made a comeback on Tuesday, December 30, as bargain hunters stepped back into
the market. The sharp recovery followed heavy profit-booking a day earlier, when investors rushed to lock in gains after the white metal’s rapid ascent sparked fears of overheating prices. Silver rose strongly across both domestic and global markets, regaining lost ground as sentiment stabilised. In India, spot and futures prices climbed nearly 4 per cent, while on COMEX, silver advanced about 5 per cent to $73.995. Even with this bounce, prices remained well below the record peak of $84.0 touched in the previous session, underscoring the market’s heightened volatility. Why Silver Prices Rebounded After Monday’s Sell-Off Monday’s steep fall was driven largely by aggressive profit-taking after silver delivered extraordinary returns over the past year. Analysts pointed out that the metal’s near 180 per cent rally in 2024 left prices vulnerable to sudden corrections, particularly during a holiday period marked by thin trading volumes. As positions were squared off, liquidity constraints amplified the downward move, only to fuel a sharp rebound once buying resumed. Despite the turbulence, the broader narrative supporting silver remains intact. Structural supply limitations and sustained industrial consumption continue to provide a strong foundation, even as traders navigate short-term swings. Silver Rate Today In the physical market, silver prices reflected the recovery. As per data from bullions.co.in, silver coins priced at 10 grams were trading at Rs 2,325 in Delhi. The 100-gram silver coin stood at Rs 23,691, while a 1-kilogram silver bar was quoted at Rs 232,480. These rates mirror renewed demand from retail buyers following the correction. Industrial Demand For Silver Jigar Trivedi, Senior Research Analyst at Reliance Securities, said ina Livemint report that despite near-term volatility, silver continues to find support from structural supply constraints and strong industrial demand, particularly from solar, electronics, and data centre infrastructure. He also highlighted that stricter margin norms could cap sharp upside moves in the immediate future. The CME’s decision to raise margin requirements on silver futures has prompted leveraged traders to trim exposure, easing speculative excess after prices became technically stretched. Still, Trivedi expects the broader trend to remain positive, noting that Silver March futures may appreciate to Rs 226,000/kg as international market cues stay supportive. Silver Rates Today Across Major Indian Cities As of 10:30 pm on December 30, silver prices showed minor regional variations. Delhi quoted silver at Rs 2,325 per 10 gm, while Jaipur and Mumbai hovered slightly higher. Chennai recorded the highest rates among major metros, reflecting local demand dynamics and logistics costs.
