Silver Soars to Unprecedented Heights: A Shining Performance

Silver prices hit record highs in Delhi, driven by robust industrial demand and strong global cues, while gold prices declined. International markets saw significant rises in silver and gold per ounce. Experts highlight structural supply constraints and robust industrial demand, despite stricter margin rules affecting short-term price gains.

In an unprecedented surge, silver prices in the national capital reached a record high of Rs 2.41 lakh per kg on Tuesday, marking an increase of Rs 1,000. This spike aligns with firm global cues, as reported by the All India Sarafa Association.

While silver shone brightly, gold of 99.9 per cent purity experienced a decline, dropping Rs 2,800 to Rs 1,39,000 per 10 grams from Monday's close of Rs 1,41,800. This marks the second consecutive day of losses for the precious metal.

On the international stage, spot silver jumped USD 3.72, or 5.15 per cent, to USD 75.85 per ounce. Concurrently, gold saw a rise of USD 69.61, or 1.61 per cent, reaching USD 4,401.59 per ounce.

Analysts attribute the strong industrial demand and firm global prices as key factors propelling silver upwards in local markets. According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, near-term volatility may persist. However, structural supply constraints and strong industrial demand, particularly from solar, electronics, and data centre infrastructure, continue to support silver prices, despite stricter margin rules potentially restricting short-term price gains.

On the Multi Commodity Exchange (MCX), silver futures for March 2026 delivery soared by Rs 9,590, or 4.27 per cent, to Rs 2,34,019 per kilogram amid a business turnover of 11,915 lots. Notably, on Monday, the white metal had touched a record high of Rs 2,54,174 per kilogram, an ascent of Rs 14,387, or 6 per cent.

(With inputs from agencies.)