Is Silver Really Reaching a Lifetime High at Rs 3 Lakh per Kg on MCX Amid Global Tensions?
Synopsis
Silver prices have reached an unprecedented high on the MCX, hitting Rs 3 lakh per kg amidst global tensions. This surge is attributed to heightened safe-haven demand as gold also sees significant gains. Discover the latest market insights and potential implications for investors in this critical update!
Key Takeaways
Silver prices hit a lifetime high of Rs 3 lakh per kg .
Safe-haven demand is driving the increase .
Gold prices also reached notable highs .
Market support and resistance levels are crucial for trading .
Global uncertainties significantly impact commodity prices .
Mumbai, Jan 19 (NationPress) The prices of silver have skyrocketed to a historic peak on the Multi Commodity Exchange (MCX) on Monday, as the precious white metal soared to the Rs 3 lakh per kg level during the intra-day trading session.
This surge was fueled by robust demand for safe-haven assets, spurred by escalating global uncertainties. The increase in silver prices coincided with new record highs in gold.
The silver futures contract on MCX, set to expire in March 2026, began with a notable upside gap at Rs 2,93,100 per kg and quickly climbed to an intra-day high of Rs 3,01,315 per kg.
“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,” stated an analyst.
This achievement marks a new all-time high for silver on the domestic market. Even after a bit of profit-taking from peaks, the prices on MCX remained stable and sustained above the significant Rs 3 lakh per kg threshold.
Simultaneously, gold prices experienced a notable rise. The gold futures contract on MCX for February 2026 opened at Rs 1,43,321 per 10 grams and quickly reached an intra-day high of Rs 1,45,500 within moments of the opening bell.
“Gold has support at Rs 1,41,650 to Rs 1,40,310 while resistance is at Rs 1,44,150 to Rs 1,45,670,” according to the analyst.
Although prices later softened slightly, gold continued to trade at high levels, demonstrating resilience after slight profit-taking.
In the international arena, COMEX gold prices are currently finding immediate support near $4,620 per ounce, while a more robust support zone is around $4,580 per ounce.
Should the momentum persist, analysts predict potential targets at $4,730 and $4,780 per ounce.
Domestically, MCX gold is being supported around Rs 1,42,000 and Rs 1,40,000 per 10 grams.
“On the upside, gold faces resistance near Rs 1,48,000 per 10 grams. A decisive break above this threshold could propel prices towards the psychological mark of Rs 1.50 lakh per 10 grams in the near term,” an expert remarked.
Point of View
It is crucial to recognize the significance of the current surge in silver and gold prices. This phenomenon is closely linked to global uncertainties, highlighting the importance of safe-haven assets in turbulent times. For investors, these movements signal potential opportunities, but caution is advised amidst volatility.
NationPress
12 May 2026
Frequently Asked Questions
What is driving the surge in silver prices?
The surge in silver prices is primarily driven by increased demand for safe-haven assets amid rising global uncertainties.
What are the current support and resistance levels for silver?
Silver has support levels at Rs 2,85,810 and Rs 2,82,170, with resistance at Rs 2,94,810 and Rs 2,96,470.
How are gold prices performing in relation to silver?
Gold prices are also witnessing significant gains, reaching an intra-day high of Rs 1,45,500 per 10 grams.
What is the outlook for gold prices?
Analysts predict that if gold prices break above Rs 1,48,000 per 10 grams, they could approach the psychological level of Rs 1.50 lakh.
Where can I find more information about commodity prices?
You can refer to financial news outlets, commodity exchanges like MCX, and analytical reports for detailed insights into commodity prices.
