New Delhi, Dec 29 || The silver market underwent a decisive structural shift in 2025, driven by prolonged physical supply deficits, inventory depletion and policy‑led supply constraints, a report said on Monday.
The report from Motilal Oswal Financial Services Ltd predicted that silver would touch Rs 2,46,000 per kg in the domestic market.
The brokerage continues "to maintain a buy-on-dips approach with a staggered investment strategy."
"While the initial target of $75 on COMEX has been achieved, the firm reiterates its target of $77 on COMEX, equivalent to Rs 2,46,000 on the domestic market, with further revisions dependent on evolving market conditions," the report said.
The rally was not merely speculative but reflected "deep stresses between paper pricing mechanisms and physical availability," with mounting physical tightness and declining exchange inventories reinforcing that the rally is structural rather than cyclical.