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‘We expect prices to gradually move towards Rs 1,35,000 per kg in six months and then Rs 1,50,000 per kg in 12 months,’ says Motilal Oswal Financial Services in its report.
Silver Price Prediction 2025.
Silver Price Prediction 2025: Silver could climb to as high as Rs 1.5 lakh per kg in the next 12 months, buoyed by strong industrial demand, safe-haven buying, and a weaker dollar, according to a quarterly outlook by Motilal Oswal Financial Services (MOFSL).
The brokerage said silver has already delivered nearly 37% returns year-to-date on MCX, outpacing several other asset classes. Globally, it expects Comex silver futures to advance towards $45 per ounce initially and touch $50 per ounce in the next phase of the rally.
“After achieving our earlier targets, we continue to believe silver remains poised for further upside. We expect prices to gradually move towards Rs 1,35,000 per kg in six months and then Rs 1,50,000 per kg in 12 months on the domestic front, assuming the rupee trades around 88.5 against the US dollar,” the report said.
Drivers of the Rally
Silver’s bullish outlook is being supported by multiple factors — industrial demand from green technologies such as solar power, EVs and 5G, rising investment flows into silver ETFs, and central banks diversifying into the white metal. The Silver Institute estimates industrial demand could account for nearly 60% of total production in 2025.
Russia has already announced silver purchases worth $535 million over three years for its state reserves, while Saudi Arabia’s central bank is reported to have invested $40 million in silver-linked ETFs. In India, silver imports have crossed 3,000 tonnes in the first half of 2025, while silver ETFs are also seeing record inflows.
Macro Backdrop
The report highlighted that expectations of US Federal Reserve rate cuts, a weaker dollar and falling US bond yields are boosting sentiment for precious metals. “Post Jackson Hole symposium, a 25 basis points rate cut in September looks imminent. Lower rates alongside falling US yields are supportive for precious metals including silver,” it said.
However, MOFSL cautioned that some near-term profit booking cannot be ruled out after the sharp rally. “One can start accumulating silver from current levels down to dips of Rs 1,18,000-Rs 1,15,000 per kg,” the note suggested.
Supply Deficit Adds to Momentum
This year marks the fifth consecutive year of supply deficit in the silver market, lending further strength to the bullish trend. Silver has surged 41.6% year-to-date on Comex, compared to gold’s 34.6% rise, while base metals such as copper have posted far more modest gains of 14%.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 10, 2025, 15:15 IST
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