Silver Hits Record High, Tops Crude Oil Prices for First Time in 40 Years

As silver prices overtake crude oil for the first time in 40 years, the market is sending a clear message: the future belongs to the tangible, the critical, and the rare.

Silver futures hit fresh lifetime highs on the Multi Commodity Exchange (MCX) on Wednesday, tracking record prices on COMEX. This is a day after the while metal breached crude oil prices for the first time in 40 years. The fresh rally followed a weaker-than-expected US jobs report, which reinforced market expectations of two interest rate cuts in 2026. Silver prices were supported by strong industrial demand for the white metal, particularly from renewable energy applications, grid infrastructure, and artificial intelligence-linked technologies, market participants said.

Globally, it hit the $66-threshold mark for the first time today. It is the dawn of a new era for Silver, said Aamir Makda, Commodity & Currency Analyst at Choice Broking.

"As silver prices overtake crude oil for the first time in 40 years, the market is sending a clear message: the future belongs to the tangible, the critical, and the rare. This incline in silver has triggered by recent employment numbers from US which shown that unemployment rate has risen to 4.6 per cent, which will make Federal Reserve to cut its Interest rate in 2026, making non-yielding assets like silver more attractive," Makda said.

On MCX, silver for March delivery gained 4 per cent to Rs 2,05,410 per kg. It hit a record high of Rs 2,06,111 per kg earlier today. On COMEX, the March contracts were up about 5 per cent at $66.41 per ounce, after touching a record high of $66.65 per ounce.

https://www.businesstoday.in/markets/stocks/story/silver-hits-record-overtakes-crude-oil-prices-for-1st-time-in-40-years-new-era-say-analysts-506988-2025-12-17