Silver rate today: After climbing to a record high of $82.670 per ounce in the international market on Monday, the COMEX silver price finished at $71.300 per ounce, logging $11.37 per ounce or a 13.75% dip from the record high on Friday. The precious white metal skyrocketed by around 180% in 2025 due to the rising demand-supply constraint. The white metal rose after industrial demand increased following Samsung’s announcement to transition from lithium-ion batteries to solid-state batteries.
Some structural changes, such as disruptions in export supply from Peru and Chad due to escalating tensions between the US and Venezuela, and China’s shadow ban on silver exports from January 1, 2026, also lent support at lower levels after the profit-booking trigger. However, some experts have now suggested that investors holding long positions in silver should consider booking a profit and exiting their positions.
According to market experts, the silver rate today has climbed to an alarming level, and its industrial demand may be jeopardised due to this price rally. Experts said that an industry would start looking at alternatives if its costs shoot up beyond a certain level. Photovoltaic cells and solar panels have already moved towards copper, leaving silver behind. As for the batteries, efforts are being made to switch from silver to a copper binding technique. They said that silver prices have either reached their peak at $82.670 per ounce or may rise for some time due to short covering by institutions. In that case, it may reach or approach $100 per ounce levels by February 2026. In FY27, the white metal is expected to remain under the bear’s grip and may crash by up to 60% by the end of FY27, according to experts.
How can industries not digest rising silver prices?
Highlighting the industrial dynamics with its industrial demand, Amit Goel, Chief Global Strategist at Pace 360, said, “An industry can digest a raw material until it is economically viable for the survival of its business. Otherwise, it would start looking for an alternative. Amid skyrocketing silver prices, some of the industrial demand for silver has already been jeopardised as photovoltaic cells and solar industries have successfully moved from silver to copper. For solid-state batteries, too, efforts are underway to transition from silver coil binding to copper coil binding. Some companies in Israel, Taiwan, Australia, and China are actively seeking to replace silver with copper in solid-state batteries. Tesla CEO Elon Musk’s alarm last week is something that can’t be ignored. I personally believe that silver prices have either topped out or may rise for some time due to the short covering by institutions, and can either touch $100 per ounce by February 2026 or end up coming close to $100 levels.”
Is history about to repeat?
Suggesting silver investors look down the memory lane, Anuj Gupta, Director at Ya Wealth, said, “Silver price has a history of crashing heavily after a strong bull trend. We saw this happen in 1980, when the Hunt Brothers reportedly accumulated around one-third of the global silver reserves. This forced exchanges to increase margin money, which has already begun as CDX has raised margin money by 25%. This triggered short-covering due to the liquidity squeeze, and silver prices fell from around $49.50 to around $11 per ounce. The same thing happened in 2011 when silver rates fell 75% after peaking at near $48 per ounce levels.”
Silver rate today: White metal targets in FY27
Asked about the silver price target in FY27 after the correction, Amit Goel of Pace 360 said, “As I said earlier, a raw material can’t dictate an industry; it’s the industry that dictates a raw material and its price. The current rebound in silver prices, after hitting a record high of $82.670 per ounce in the international market and ₹2,54,174 per kg on the Indian Multi-Commodity Exchange (MCX), can be attributed to short-covering positions by major institutions such as BofA and Citibank. Therefore, retail investors are advised to avoid taking any new position or holding their previous position. This relief rally may turn out short-lived and end up topping out by around $100 per ounce in February 2026,” adding, “By the end of FY27, COMEX silver price is expected to end around $40 per ounce if the silver prices top out near $100 levels. However, chances are high that white metal might have topped out at $82.670 level, and in that case, the precious metal may end around $35 per ounce level by the end of FY27.”
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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