Historical increase in silver price in 2025, doubling in price in 286 days
Silver prices in Delhi saw a historic surge on Monday, rising by ₹7,500 per kilogram in a single day to touch ₹1,79,000 — a nearly 100% increase since the start of 2025. This marks the first time silver prices have doubled within a calendar year, as prices stood at ₹89,700 on the last trading day of 2024. Experts attribute the rise to a combination of strong festive demand, limited supply, and global factors including geopolitical tensions, the US tariff war, and potential interest rate cuts by the Federal Reserve.
October has proven to be exceptionally volatile, with silver witnessing four major single-day jumps of ₹6,000 or more — including an ₹8,500 spike on October 10. In just the first two weeks of the month, prices have risen by ₹28,500 or 19%. Analysts believe the rally is far from over, predicting that silver could surpass the ₹2 lakh mark by Dhanteras or Diwali on October 20, which would require an additional 11% increase in six days.
The upward trend is mirrored in the country’s futures market as well. On the Multi-Commodity Exchange (MCX), silver closed at ₹1,54,645 per kilogram on Monday — up ₹8,179 for the day and nearly 77.3% higher than its 2024 year-end level of ₹87,233. With industrial demand growing alongside festive buying, and supply chains facing constraints, both retail and futures markets are expected to maintain strong momentum in the days leading up to Diwali.
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