New Delhi: Silver prices have created history in India’s futures market, touching an all-time high of Rs 2.42 lakh per kilogram on the Multi Commodity Exchange (MCX). The sharp rise came amid strong buying
by traders, fears of supply shortages, and growing expectations that the US Federal Reserve may cut interest rates in 2026.
In just one week, silver prices jumped over 15 percent, reflecting extreme volatility and aggressive demand.
Strong Global Rally Lifts Indian Prices
The rally was not limited to India. In global markets, silver prices hit a fresh lifetime high of USD 79.70 per ounce on Comex, rising more than 11 per cent in a single day. This global surge directly boosted domestic prices.
On Friday, MCX silver futures for March 2026 delivery surged by more than Rs 18,000 in one session before settling slightly lower at Rs 2.39 lakh per kg.
Big Gains in One Year
Silver has delivered exceptional returns in 2025. Prices have climbed nearly 175 per cent during the year, rising from around Rs 87,000 per kg at the end of 2024 to current record levels. Globally, silver prices have jumped 164 per cent in the same period.
Experts say silver is no longer behaving only like a precious metal such as gold. Its heavy use in solar panels, electronics, electric vehicles, and high-tech products has made industrial demand a key price driver.
Supply Fears Add Fuel
One of the biggest reasons behind the rally is concern over tightening global supply, especially from China, the world’s largest consumer of silver. China has announced plans to impose export restrictions on silver from January 2026, requiring special licences. This move could disrupt global supply chains and push prices even higher.
What Lies Ahead?
Market experts believe silver may continue to outperform gold. Strong industrial demand, steady ETF investments, weak dollar expectations, and safe-haven buying are supporting prices. Some analysts even expect silver prices to move towards USD 100 per ounce in 2026 if current trends continue.
