Silver has been one of the most active commodities in the global market this week.

And the rally hasn’t gone unnoticed back home. As MCX silver trades near its earlier peak, the sharp moves in Comex silver continue to set the tone for the precious metals market.

Market Performance: Silver Holds Strong on MCX

The trading session on Friday brought another burst of activity to the bullion market.

On the Multi Commodity Exchange (MCX), silver was quoted at ₹1,61,366 per kg, slightly lower than the previous session but still hovering close to its higher range for the month.

A look at the futures contracts shows how active the market has been:

• MCX December futures: ₹1,65,078 per kg
• MCX March 2026 contracts: ₹1,67,319 per kg
• MCX silver drawdown from all-time high: around 5.2%

Even with the minor dip, silver remains firmly elevated in the domestic market as global prices continue their upward run.

Main News: Comex Silver Extends Rally to Fresh Record High

The real spark this week came from the international market.

Comex silver surged to a new record, with the December contract jumping to $54.42 per ounce on November 13, 2025.

For context, silver in the global market was trading around $53 per ounce, marking a weekly gain of nearly 9.7%.

The broader rally has been shaped by:

• Rising preference for safe-haven assets
• Ongoing economic uncertainty
• Shifts in global financial conditions
• Demand strength in precious metals

Silver’s strong weekly move of nearly 12% on Comex has pushed it near one of its best performances since September 2024.

Why Silver Is in Focus: Market Cues Driving the Trend

The rise in silver isn’t only about global prices. Over the last few weeks, a mix of domestic and international factors has supported the trend.

While the reference content limits what can be added, the data given clearly shows three major themes playing out:

1. Safe-haven demand has been climbing as global uncertainty rises.
2. Industrial demand remains firm, giving silver an additional layer of support.
3. Seasonal physical demand in India, especially around weddings, has tightened availability.

Supply-related concerns have also added a layer of interest, with the physical market reacting to the pick-up in consumption.

Global Market Impact: How Comex Silver Shapes MCX Silver

Whenever Comex silver hits new highs, the impact is quickly felt on the MCX.

Domestic prices often track global cues, though the pace of adjustment can be influenced by:

• Rupee movement
• Local demand shifts
• Bullion market dynamics

With Comex reaching fresh all-time levels this week, MCX silver naturally mirrored a large part of that strength.

However, based strictly on the data provided, the domestic price movement remained slightly below its own all-time peak, keeping the rally measured but steady.

Company Details Segment: Understanding Silver’s Position in the Precious Metals Market

While this section typically highlights company-level details, in the case of commodities like silver, the focus is on market behaviour rather than corporate financials.

Here, the details revolve around:

• MCX pricing trend for December and March contracts
• Comex price levels, especially the new high of $54.42 per ounce
• Physical market demand during India’s wedding season
• Global precious metals sentiment, driven by safe-haven buying

The precious metals basket, especially silver, has gained from both industrial and investment-led flows in recent weeks.

Summary

The week closed with MCX silver prices staying firm near the ₹1.6 lakh mark, supported by a powerful global rally.

With Comex silver touching a fresh record high of $54.42 per ounce, the momentum in the global market kept domestic prices elevated.

Key numbers from the week:

• MCX silver: ₹1,61,366 per kg
• MCX December futures: ₹1,65,078 per kg
• MCX March 2026 futures: ₹1,67,319 per kg
• Global silver: Around $53 per ounce
• Comex high: $54.42 per ounce
• Weekly rise: Nearly 12% on Comex

The combination of global demand, safe-haven buying, and seasonal consumption kept silver in the spotlight across both MCX and international markets.