Is Silver Really at a Lifetime High, Reaching Rs 3 Lakh per Kg on MCX Amid Global Tensions?
Click to start listening
Synopsis
Silver prices have reached a new all-time high on the MCX, touching Rs 3 lakh per kg amid global uncertainties. This surge showcases a significant trend in precious metals, reflecting the growing safe-haven demand as investors seek stability during turbulent times.
Key Takeaways
- Silver prices reached Rs 3 lakh per kg on MCX.
- Strong demand for safe-haven assets amid global tensions.
- Gold prices also saw significant gains.
- Support levels for silver are at Rs 2,85,810 and Rs 2,82,170.
- Potential upward targets for gold are set around Rs 1,48,000.
Mumbai, Jan 19 (NationPress) — Silver prices have skyrocketed to a new all-time high on the Multi Commodity Exchange (MCX) this Monday, with the precious white metal achieving the remarkable milestone of Rs 3 lakh per kg during the intra-day trading session.
This surge in price was largely attributed to robust safe-haven demand triggered by escalating global uncertainties. Silver's rise coincided with newly established record highs in gold.
The silver futures contract on MCX, set for March 2026 expiry, commenced with a substantial upside gap at Rs 2,93,100 per kg and rapidly extended its gains to reach an intra-day peak of Rs 3,01,315 per kg.
According to an analyst, “In INR, silver has support levels at Rs 2,85,810 and Rs 2,82,170, while facing resistance at Rs 2,94,810 and Rs 2,96,470.”
This event marks a historic peak for silver on the domestic exchange. Despite some profit-taking from elevated levels, MCX silver prices managed to maintain a firm standing above the critical Rs 3 lakh per kg threshold.
Gold prices also experienced a significant upward movement. The gold futures contract on MCX for February 2026 expiry opened at Rs 1,43,321 per 10 grams and quickly hit an intra-day high of Rs 1,45,500 per 10 grams shortly after the market opened.
As per the analyst, “Gold has support at Rs 1,41,650 to Rs 1,40,310, with resistance at Rs 1,44,150 to Rs 1,45,670.”
Although prices later slightly retracted, gold remained strong, showing resilience against mild profit-taking.
In the international arena, COMEX gold prices are currently finding immediate support around $4,620 per ounce, while a stronger support area exists near $4,580 per ounce.
On the upside, analysts predict potential targets at $4,730 and $4,780 per ounce if the momentum persists.
Domestically, MCX gold is finding support levels around Rs 1,42,000 and Rs 1,40,000 per 10 grams.
“On the upside, gold is encountering resistance near Rs 1,48,000 per 10 grams. A significant break above this level could propel prices towards the psychological mark of Rs 1.50 lakh per 10 grams in the near future,” an expert noted.
Point of View
I observe that the surge in silver prices highlights the critical role precious metals play during times of uncertainty. The current market trends reflect investor sentiment, emphasizing the importance of staying informed in a volatile economic environment.
NationPress
20/01/2026
Frequently Asked Questions
What factors contributed to the rise in silver prices?
The rise in silver prices is largely driven by safe-haven demand amid escalating global uncertainties.
What is the current support level for silver?
Currently, silver has support levels at Rs 2,85,810 and Rs 2,82,170.
How are gold prices performing in the market?
Gold prices have also surged, hitting an intra-day high of Rs 1,45,500 per 10 grams.
What are the resistance levels for gold?
Gold faces resistance at Rs 1,44,150 to Rs 1,45,670.
What does the future look like for silver prices?
Analysts predict that silver prices could continue to rise if the current momentum is maintained.
