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Silver prices continue to soar to unprecedented highs, with questions being asked about the reason for the rally.

On the day of Dhanteras, the price of silver in India today stands Rs 172 per gram and Ts 1,72,000 per kilogram--witnessing a decline of Rs 13 per gram and Rs 13,000 per kilogram.

Silver futures rose 6.8% Monday to settle at $50.13 a troy ounce, topping the longstanding record of $48.70, set in January 1980 during one of the 20th century’s biggest commodity-trading scandals.

Today’s Forbes Daily newsletter covers silver’s record prices, average car prices rise, Grindr’s stock surge, ghost guns under watch, Dead Internet Theory and more.

Silver, both in futures & spot markets, now officially broken above the critical $50 level, which marks the completion of a six-decade-old cup and handle chart pattern. Read more here.

The uptrend in the silver market is still definitely strong, but there are sellers on Friday who are trying to bring things back under control. At this point, we are so overdone that the silver market looks like a dangerous place to chase at the moment.

Gold prices of 24 kt on MCX, which had recently touched a record high of ₹1,32,294 per 10 grams, fell by around 3 per cent to ₹1,25,957 per 10 grams.

Gold isn't the only precious metal on a remarkable price run. Here's how high silver's price has risen in 2025.

Silver prices have doubled in India this year on the back of industrial demand and festive buying. But experts warn of a short-term correction after Diwali, citing overvaluation and investor profit-taking.

Silver price crashed 6% on Friday — its largest single-day fall in six months — after touching a record high of $54 an ounce earlier this week. In New York, spot silver dropped to $51.88, while gold slipped 1.