Overview
- Spot silver climbed back above $75 an ounce Tuesday after its steepest one‑day fall in more than five years, a reversal that followed a record above $84.
- CME and Comex margin increases, stretched technicals and thin holiday liquidity drove profit‑taking and forced leveraged unwinds, analysts said.
- Despite the whipsaw, silver is still up more than 150% for 2025 and over 30% in December, while gold is near a 70% yearly gain, putting both on track for their strongest year since 1979.
- Tight physical markets persist with low inventories, hefty ETF inflows, strong industrial demand from solar and electronics, and China’s silver export licensing set to start on January 1, 2026.
- India prices reflected the rebound, with MCX silver up about 4% and Delhi spot hitting a new record of Rs 2.41 lakh per kg, underscoring still‑elevated volatility.