Markets

Profit-booking pulls silver off lifetime peak; gold snaps four-day rally

Bullion prices cooled on Monday with silver sliding from record levels and gold snapping a four-day rally

December 29, 2025

Silver touches ₹2.54 lakh per kg before sharp correction

Silver retreats from record levels amid volatile trade, weak global cues

Silver prices retreated sharply from record highs on Monday, slipping nearly 3 per cent in futures trade as investors booked profits after a blistering rally, amid weak cues from global markets.

In a highly volatile session, silver briefly touched a lifetime high of ₹2,54,174 per kg in early trade before selling pressure emerged. On the Multi Commodity Exchange (MCX), silver futures plunged ₹7,124, or 2.97 per cent, to a low of ₹2,32,663 per kg. Despite the correction, the white metal has surged over 15 per cent, or ₹31,348, in the past week.

Gold prices also witnessed profit-booking, snapping a four-day rally. Gold futures declined ₹1,497, or 1.07 per cent, to ₹1,38,376 per 10 grams after opening higher. The yellow metal had scaled a fresh record of ₹1,40,465 per 10 grams on Friday.

“Gold and silver prices retreated from record highs in the European trading session on Monday as traders booked profits after a record-breaking rally,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities. He noted that both metals are currently in overbought territory on higher time frames, signalling the need for a healthy correction before the upward trend resumes.

Gandhi added that bullion prices may face further corrective pressure as investors rebalance portfolios toward the month-end and year-end.

On the global front, silver futures for March 2026 delivery also saw a steep correction. On the Comex, silver fell USD 3.49, or 4.51 per cent, to USD 73.71 per ounce. Earlier in the session, the metal had breached the USD 80-per-ounce mark for the first time, touching a record high of USD 82.67 per ounce.

Gold prices overseas also softened. Gold for February delivery declined USD 72.55, or 1.59 per cent, to USD 4,480.15 per ounce after hitting an intraday high of USD 4,581.3 per ounce. On Friday, gold had reached a fresh all-time high of USD 4,584 per ounce.

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