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Silver Prices Today: Silver prices touched fresh all-time highs on Wednesday extending a sharp breakout rally across domestic and global markets as softer US economic data revived expectations of Federal Reserve interest rate cuts. The move was supported by a weaker dollar, rising safe-haven demand, and heightened geopolitical tensions.

On the domestic front, MCX silver scaled a new lifetime high of Rs 2,06,905 per kg. Prices later eased slightly but remained firmly in positive territory.

In contrast, MCX gold (February) slipped 0.21 per cent to Rs 1,34,129 per 10 grams, highlighting a growing divergence between the two precious metals as investor preference tilted decisively towards silver.

Internationally, spot silver surged 2.8 per cent to a record $65.63 an ounce, marking the first time the white metal crossed the $65 level. Spot gold edged 0.4 per cent higher to $4,321.56 an ounce by 0230 GMT, aided by continued weakness in the US dollar.

The rally gained momentum after US data showed the unemployment rate rose to 4.6 per cent in November, strengthening expectations of further monetary easing. Investor sentiment had already turned positive for non-yielding assets after the Federal Reserve delivered its final quarter-point rate cut of the year last week and struck a dovish tone in its outlook.

Geopolitical developments also added fuel to the rally. President Donald Trump’s move to block sanctioned oil tankers linked to Venezuela escalated regional tensions, boosting safe-haven buying. The dollar index hovered near a two-month low, making dollar-denominated bullion more attractive to overseas buyers.