Silver price hits record high, up 141% in 2025
Silver prices reached an all-time high of $69.98 per ounce on Tuesday driven by supply shortages, robust industrial use—especially in renewables—and firm investor demand.
- Dec 23, 2025,
- Updated Dec 23, 2025 12:55 PM IST
Silver prices surged to a record high on 23 December 2025, with spot prices rising nearly 1% in early trade to $69.70 an ounce and briefly touching $69.98. This marked a gain of over 141% for the year, exceeding the performance of other precious metals as investors sought assets both for stability and growth linked to structural demand. Analysts said silver continues to draw support from the broader strength in precious metals, even as year-end liquidity thins.
Market participants cited tight supply conditions and a significant increase in industrial consumption—particularly from renewable energy and electronics sectors—as primary drivers for silver’s rally.
Market participants pointed to tight supply conditions and rising industrial consumption—particularly from renewable energy and electronics—as key drivers behind silver’s surge. Longer-term projections identified the $75-per-ounce level as a potential target if current fundamentals remain. In India, silver traded above ₹2 lakh per kilogram, posting firm rates at around ₹223 per gram.
Market participants said the ability to sustain these levels signals strong investor confidence alongside steady industrial usage. Commenting on the trend, Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA) and Executive Chairperson of Aspect Global Ventures, said silver’s resilience above ₹2 lakh stresses continued trust from both investors and industry participants."
Expert opinion reinforced the constructive outlook for silver, despite expectations for some consolidation during the festive period due to lower volumes.
Separately, Vikram Subburaj, CEO of Giottus, noted that while short-term volatility cannot be ruled out, the broader trend for silver remains supportive due to limited supply and rising demand linked to green energy applications. He added that silver continues to attract interest as an asset offering both stability and growth potential.
Silver prices surged to a record high on 23 December 2025, with spot prices rising nearly 1% in early trade to $69.70 an ounce and briefly touching $69.98. This marked a gain of over 141% for the year, exceeding the performance of other precious metals as investors sought assets both for stability and growth linked to structural demand. Analysts said silver continues to draw support from the broader strength in precious metals, even as year-end liquidity thins.
Market participants cited tight supply conditions and a significant increase in industrial consumption—particularly from renewable energy and electronics sectors—as primary drivers for silver’s rally.
Market participants pointed to tight supply conditions and rising industrial consumption—particularly from renewable energy and electronics—as key drivers behind silver’s surge. Longer-term projections identified the $75-per-ounce level as a potential target if current fundamentals remain. In India, silver traded above ₹2 lakh per kilogram, posting firm rates at around ₹223 per gram.
Market participants said the ability to sustain these levels signals strong investor confidence alongside steady industrial usage. Commenting on the trend, Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA) and Executive Chairperson of Aspect Global Ventures, said silver’s resilience above ₹2 lakh stresses continued trust from both investors and industry participants."
Expert opinion reinforced the constructive outlook for silver, despite expectations for some consolidation during the festive period due to lower volumes.
Separately, Vikram Subburaj, CEO of Giottus, noted that while short-term volatility cannot be ruled out, the broader trend for silver remains supportive due to limited supply and rising demand linked to green energy applications. He added that silver continues to attract interest as an asset offering both stability and growth potential.