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Silver Soars Past Rs 3 Lakh/kg, Hits Lifetime High on MCX

Silver prices on the Multi Commodity Exchange surged to a fresh lifetime high, breaching the Rs 3 lakh per kg mark during intra-day trading. The rally was fueled by strong safe-haven demand amid rising global uncertainties, with gold prices also scaling new record highs. Analysts noted key support and resistance levels for both precious metals as prices showed resilience after some profit-taking. In the international market, COMEX gold is finding support, while experts suggest a break above Rs 1.48 lakh could push MCX gold towards Rs 1.5 lakh.

Key Points: Silver Hits Rs 3 Lakh/kg Record High Amid Global Tensions

  • Silver hits Rs 3 lakh/kg lifetime high
  • Gold also surges to new record
  • Rally driven by safe-haven demand
  • Prices show resilience after profit-booking
2 min read

Silver at lifetime high, hits Rs 3 lakh per kg on MCX amid global tensions

Silver prices surge to a lifetime high of over Rs 3 lakh per kg on MCX, driven by safe-haven demand as gold also scales new peaks.

"In INR silver has support at Rs 2,85,810, 2,82,170 while resistance at Rs 2,94,810, 2,96,470 - Analyst"

Mumbai, Jan 19

Silver prices surged to a fresh lifetime high on the Multi Commodity Exchange on Monday, with the precious white metal touching the Rs 3 lakh per kg mark during the intra-day session.

The rally was driven by strong safe-haven demand amid rising global uncertainties. The rally in silver came alongside fresh record highs in gold.

The silver futures contract on MCX for March 2026 expiry opened with a strong upside gap at Rs 2,93,100 per kg and quickly extended gains to hit an intra-day high of Rs 3,01,315 per kg.

"In INR silver has support at Rs 2,85,810, 2,82,170 while resistance at Rs 2,94,810, 2,96,470," an analyst stated.

This marked a new all-time peak for silver on the domestic exchange. Even after some profit booking from higher levels, MCX silver prices managed to trade firmly and sustain above the crucial Rs 3 lakh per kg zone.

Gold prices also witnessed a sharp move higher. The gold futures contract on MCX for February 2026 expiry opened at Rs 1,43,321 per 10 grams and touched an intra-day high of Rs 1,45,500 per 10 grams within minutes of the opening bell.

"Gold has support at Rs1,41,650-1,40,310 while resistance at Rs1,44,150-1,45,670," as per the analyst.

Although prices later cooled off slightly, gold continued to trade at elevated levels, showing resilience after mild profit-taking.

In the international market, COMEX gold prices are finding immediate support near $4,620 per ounce, while a stronger support zone is placed around $4,580 per ounce.

On the upside, analysts see potential targets at $4,730 and $4,780 per ounce if momentum continues.

Back home, MCX gold is receiving support around Rs 1,42,000 and Rs 1,40,000 per 10 grams.

"On the higher side, gold is facing resistance near Rs 1,48,000 per 10 grams. A decisive break above this level could push prices towards the psychological Rs 1.50 lakh per 10 grams mark in the near term," an expert said.

- IANS

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Reader Comments

P
Priya S
As a small investor, these prices are scary. I wanted to buy some silver coins for my daughter's future, but now it feels completely out of reach for a middle-class family. The article is informative, but I wish it had more advice for regular savers, not just traders.
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Aditya G
Gold at ₹1.45 lakh per 10gm and silver at ₹3 lakh/kg... This is a clear signal of the fear in the market. With elections in major economies and conflicts ongoing, smart money is moving to precious metals. Might be a good time to hold, but buying at this peak is risky.
S
Sarah B
Interesting to see the parallel movement in gold and silver. In India, there's always cultural demand for both, especially during the wedding season. I wonder if this will affect jewellery prices for upcoming festivals like Akshaya Tritiya.
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Vikram M
The support and resistance levels mentioned are useful for traders. But for the common man, this just means inflation is biting hard. Our savings in the bank are losing value, and now even traditional safe havens are becoming expensive. Tough times.
K
Karthik V
Respectfully, while the analysis is good, the article focuses too much on short-term trading. For most Indians, gold and silver are long-term, generational assets bought during Dhanteras or weddings. The psychological impact of ₹1.5 lakh for gold is huge for that mindset.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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