Silver Price Today 8.12.2025: Spot XAG/USD Near Record High, MCX & India Silver Rates, Forecast and Outlook

Silver is trading just below record highs on 8 December 2025, as traders around the world position for this week’s crucial US Federal Reserve meeting. Spot silver (XAG/USD) is hovering around $58.4 per troy ounce, less than a dollar below last week’s all‑time highs near $59.3, after doubling in price so far in 2025. ^[1]

At the same time, India silver prices remain elevated but slightly softer after recent spikes, while MCX silver futuresshow profit‑taking at higher levels. ^[2]

Silver price today (8.12.2025): quick snapshot

Global

Spot silver (XAG/USD): about $58.39/oz, up roughly 0.2% on the day, with an intraday range near $57.59–$58.74 and a one‑year gain of about 86%. ^[3]
Near last week’s record: Reuters reports silver recently hit a record high around $59.3/oz and is still trading close to that level today. ^[4]
Futures: COMEX silver futures are broadly aligned with spot; benchmark contracts are trading in the high‑$57 to high‑$58 range, reflecting only mild pullbacks after the record run-up. ^[5]

India (physical market)

All‑India average silver rate (GoodReturns):
- ₹189 per gram
- ₹1,89,000 per kilogram
- Down ₹1 per gram (₹1,000 per kg) versus yesterday. ^[6]
Alternative quote (Mathrubhumi), based on GoodReturns data, shows:
- ₹189.90 per gram
- ₹1,89,900 per kilogram
  Minor variation reflects timing and local margin differences. ^[7]

India (futures – MCX)

MCX silver March futures were down about 1% around ₹1,81,600 per kg at 9:10 a.m. IST, after having hit an all‑time high near ₹1,85,234 per kg in the previous session. ^[8]

Overall, today’s session looks like consolidation just below record highs, not the start of a major reversal.

Global spot silver (XAG/USD) holds just below record highs

Real‑time quotes on 8 December show spot XAG/USD around $58.4/oz, with today’s trading range roughly $57.6–$58.7/oz. That keeps silver within touching distance of last week’s record zone just above $59.3. ^[9]

Key points from today’s global coverage:

Reuters notes silver is up around 0.3% today, after having doubled in price over 2025, driven by tightening supply and its designation as a “critical mineral” in the US, which has boosted strategic and investment demand. ^[10]
A Bloomberg‑sourced piece carried by News.az says silver “remained close to its all‑time high”, slipping only slightly on profit‑taking as traders await the Fed’s December rate decision. It highlights that silver came within $1 of its record $59.33/oz, and that ETF inflows last week were the strongest since July, with nearly 590 tonnes added to silver‑backed funds. ^[11]
Technical momentum remains strong: the same Bloomberg report notes silver’s 14‑day RSI is around 70, a traditionally “overbought” reading, suggesting the market is hot but still being supported by strong buying. ^[12]

In short: fundamental tailwinds plus speculative enthusiasm are keeping silver pinned near records, even as some traders lock in profits ahead of the Fed.

Silver price today in India (8 December 2025)

In the Indian bullion market, silver is trading slightly off its recent peaks but remains at historically elevated levels:

GoodReturns pegs the national average silver rate at ₹189 per gram and ₹1,89,000 per kg, down ₹1 per gramfrom yesterday and ₹2,000 per kg from this month’s high. ^[13]
City‑wise, most major metros like Mumbai, Delhi, Kolkata and Bengaluru are quoting around ₹1,890 per 10g (₹18,900 per 100g, ₹1,89,000 per kg), with slightly higher prices (around ₹1,980 per 10g) in markets such as Chennai and Kerala. ^[14]
Mathrubhumi, which also uses GoodReturns data, lists today’s pan‑India silver rate at ₹189.90 per gram and ₹1,89,900 per kg, underscoring that actual retail quotes can vary slightly by jeweller, tax and logistics costs. ^[15]

Despite today’s small drop, GoodReturns’ monthly tracker shows silver is still up about 0.5% in December so far and has risen sharply over the past several months, mirroring the international rally. ^[16]

MCX silver futures on 8.12.2025: profit‑taking after record highs

On the Multi Commodity Exchange (MCX), silver futures are reflecting a bout of profit booking:

MCX silver March futures:
- Trading around ₹1,81,600 per kg, roughly 1% lower intraday.
- On Friday, the same contract jumped nearly 3% to close around ₹1,83,408 per kg, after touching an all‑time high near ₹1,85,234. ^[17]

According to analysts quoted by Mint, today’s dip looks more like short‑term profit‑taking in a strong uptrend rather than the start of a deep correction, with the move driven by tepid spot demand at extremely high prices and by traders paring risk before the Fed decision. ^[18]

Mint’s technical commentary outlines important support and resistance levels for intraday traders:

Global XAG/USD levels (today’s session)
- Support: around $57.70 and $56.80/oz
- Resistance: around $60 and $61.40/oz ^[19]
INR levels on MCX silver
- Support: approximately ₹1,81,800 and ₹1,80,000 per kg
- Resistance: ₹1,85,500 and ₹1,88,000 per kg ^[20]

Another analyst cited in the same article gives a similar bracket, highlighting support near $57.60–56.95/oz and resistance between about $58.75 and $59.15/oz, reinforcing the view that silver is trading inside a high but well‑defined range. ^[21]

Why is silver so high in 2025?

Today’s price action can’t be understood without the larger 2025 story, which multiple research houses and exchanges are now documenting.

1. Massive year‑to‑date rally and new records

Augmont’s 1 December weekly blog notes that silver prices have “nearly doubled in just 11 months”, rising about 100% in 2025, while gold is up around 60% over the same period. ^[22]
The blog also points out that this year’s surge has been driven by a mix of low global supply, high Indian demand, strong industrial usage and tariff‑related distortions, plus a short squeeze in the physical market. ^[23]
CME Group’s December micro‑metals report confirms that silver rose more than 17% month‑on‑month in November, closing the month at a new all‑time high near $56.45/oz, supported by physical supply concerns and its inclusion on the US “critical mineral” list. ^[24]

2. Tight physical market and short squeeze dynamics

Today’s Bloomberg‑sourced coverage (via News.az) and Augmont’s research both stress unusually tight physical conditions:

Silver lease rates in London remain elevated around 6%, reflecting the increased cost of borrowing physical metal despite large flows of metal into London vaults. ^[25]
Shanghai inventories are said to be near their lowest in a decade, even after China’s silver exports hit record levels earlier this year as metal was shipped to meet Western demand. ^[26]
The market has dealt with a “historic short squeeze”, with options on COMEX silver and micro futures seeing very high trading volumes as both institutional and retail traders chase the rally and hedge volatility. ^[27]

3. Fed policy, the dollar and macro backdrop

The US Federal Reserve sits at the centre of today’s narrative:

CME’s FedWatch tool, referenced by both Reuters and CME Group, shows markets pricing in a very high probability (around the mid‑80s to high‑80s percent) of a 25 bps Fed rate cut at this week’s meeting. ^[28]
A fresh Augmont weekly blog dated 8 December notes that the Fed’s “dot plot” and updated rate projectionsare likely to decide the next leg for precious metals. In September, the dot plot signalled three cuts by the end of 2026, and expectations of even more easing would further support gold and silver. ^[29]
With the dollar index near recent lows, today’s Reuters and Mint articles highlight how a softer dollar is making bullion cheaper for non‑US buyers and underpinning demand for both gold and silver. ^[30]

Put simply, macro tailwinds + physical tightness + speculative flows = silver near records on 8.12.2025.

Analyst forecasts and silver price outlook after 8 December 2025

Several fresh research notes and today’s news flow give a sense of where analysts think silver could go next.

1. December targets: $60–62 if tightness persists

Augmont’s “Silver touches record high” report lays out a short‑term December target band of $60 and $62 per ounce, with a firm support zone around $53/oz, assuming supply remains tight. In rupee terms, that corresponds roughly to ₹1.80–1.86 lakh per kg, with support near ₹1.61 lakh. ^[31]
The same report highlights seasonal patterns: over the last 30 years, silver has finished December higher around 60% of the time, with standout December gains of about 17% in 1997 and 2020, suggesting seasonality still favours the bulls this month. ^[32]

2. Intraday strategy & levels from Indian brokerages

In today’s Mint article, analysts outline specific trading strategies for MCX silver: ^[33]

One strategist recommends “buy on dips” near ₹1,81,500–₹1,79,500 per kg, with a stop‑loss below around ₹1,76,600, targeting ₹1,85,500–₹1,88,000 per kg if the uptrend resumes.
Another emphasises that as long as global silver holds above roughly $57–57.5/oz, the broader bullish structure remains intact, with upside caps around $58.75–$61.40/oz for the current week.

These are short‑term trading ideas, not long‑term investment calls, and rely heavily on the outcome of the Fed policy decision on 10 December.

3. Macro‑driven outlook: Fed dot plot and 2026 expectations

The CME micro‑metals report and Augmont’s new “Fed dot plot” blog both argue that if the Fed confirms a multi‑cut trajectory for 2026, lower real yields and a weaker dollar could keep attracting capital into precious metals. ^[34]
Meanwhile, IndexBox and other research outfits have highlighted how silver’s doubling in 2025 has already made it one of the best‑performing mainstream assets, raising the risk of sharper pullbacks if positioning gets too crowded – but also confirming that structural deficits and green‑energy demand have changed how investors value the metal. ^[35]

Most professional commentary therefore frames today’s market as bullish but fragile: upside remains if supply stays tight and the Fed stays dovish, but the margin for error around record highs is small.

What today’s silver price means for investors

Whether you’re looking at XAG/USD, India silver rate today, or MCX futures, 8 December 2025 sends a few clear signals:

Silver is in a late‑stage but still‑intact bull run
- Prices are near records, momentum is strong, and structural factors (supply deficits, industrial demand, ETF inflows) remain supportive. ^[36]
Volatility is elevated and corrections can be sharp
- Recent episodes – including Diwali‑week drawdowns and intraday swings of several dollars per ounce – show that profit‑taking can hit suddenly, especially when RSI readings are overbought and positioning is crowded. ^[37]
Policy risk is high this week
- The Fed decision and dot plot on 10 December are immediate catalysts. A less‑dovish‑than‑expected message could quickly push silver back toward its support zones, while an aggressive easing path could fuel another spike above $60/oz. ^[38]
Local buyers in India face FX and tax layers
- Even if global prices cool slightly, a weaker rupee can keep domestic silver expensive, and local taxes plus jeweller premiums mean retail prices don’t always fall in line with spot. ^[39]

Practical takeaways (not investment advice)

If you’re tracking or trading silver around 8.12.2025, here are some practical ways to use today’s information:

Watch the key zones
- Globally, many analysts are watching $57–$56.8/oz as near‑term support and $60–$61.4/oz as resistance. ^[40]
In India, track both spot and MCX levels
- Physical buyers are seeing silver around ₹1.89 lakh per kg, while MCX futures are fluctuating in the ₹1.80–1.85 lakh band. This gap often reflects expectations about future prices and currency moves. ^[41]
Respect volatility and risk
- CME and Augmont both stress that leveraged derivatives and parabolic moves can magnify losses as quickly as gains. ^[42]

As always, this article is for informational and educational purposes only and is not financial advice. Silver has already had an extraordinary 2025; anyone considering fresh positions at these levels should evaluate their risk tolerance, time horizon and need for diversification, and, where appropriate, consult a qualified financial adviser.