Silver futures on Multi Commodity Exchange hit unprecedented highs amid global uncertainty
Indian precious metals markets witnessed a landmark moment on January 29, 2026, as silver prices soared past ₹4 lakh per kilogram for the first time in history, marking an extraordinary surge in the white metal’s valuation. The landmark rise comes amid intense global demand for safe-haven assets and evolving geopolitical tensions that have injected fresh momentum into commodity trading.
On the Multi Commodity Exchange (MCX), silver futures climbed sharply — erupting from earlier levels of around ₹3 lakh per kilogram just ten days ago to breach the ₹4 lakh mark, reflecting the fastest ₹1-lakh rise ever recorded in the segment. Analysts say this reflects not only strong investment demand but also tight supply conditions and heightened risk-off sentiment among traders.
Global markets have mirrored this historic spike. International silver prices neared the $120 per ounce threshold — a rare peak — driven by broader concerns ranging from geopolitical friction to monetary policy drivers such as stable US interest rates and a relatively softer dollar. These factors have collectively buoyed precious metals as investors seek refuge from traditional financial assets.
Gold, too, rallied in tandem, nearing fresh lifetime highs above ₹1.7–1.8 lakh per 10 grams, underscoring a broader trend of heightened demand for metals commonly viewed as hedges against market volatility.
Gold, too, rallied in tandem, nearing fresh lifetime highs above ₹1.7–1.8 lakh per 10 grams, underscoring a broader trend of heightened demand for metals commonly viewed as hedges against market volatility.
