On MCX, March silver futures rose by ₹13,550, or nearly 5%, to hit a record high of ₹3,01,315 per kg. US President Donald Trump’s threat of tariffs on Greenland increased geopolitical risks, attracting investors to safe-haven assets. This is also affecting the price of gold. MCX gold February futures rose by nearly ₹ 3,000 or more than 2% to reach a record high of ₹ 1,45,500 per 10 grams. Gold and silver prices have also reached record highs in the international market due to fears of a trade war. Spot gold rose 1.6 percent to $4,668.76 an ounce by 8:11 a.m. in Singapore, according to Bloomberg, from an earlier peak of $4,690.59. Silver rose 3.2 percent to $93.0211 and touched a high of $94.1213.
How far will the price of silver go?
According to Ponmudi R, CEO, Enrich Money, COMEX silver prices have recovered sharply in the region of $89-90 after touching a peak of $93.7, indicating short-term profit taking activity after a prolonged rally. He said that this decline does not indicate a change in trend. Silver continues to post strong weekly gains, supported by sustained industrial demand and persistent supply constraints. The correction has been systematic so far, indicating that buyers continue to emerge on dips.
mcx silver level
According to Ponmudi, silver price on MCX is respecting its bullish channel structure even after consolidation. He said that the zone of Rs 2,83,000–2,80,000 acts as a strong support, while a sustained move above Rs 2,95,000 could take the prices sharply towards Rs 3,05,000-3,20,000.
technical approach
Giving a technical outlook, SEBI-registered commodity expert Anuj Gupta said that silver price has shown a decisive breakout above $ 93 an ounce today. Gupta further clarified that if the white metal remains above this level for a few more hours, we could see the precious metal touch $95 in the near term and $100 in a slightly longer period.
The speed of silver was faster than gold in 2025
Silver outperformed gold last year, rising nearly 150% in October due to a short squeeze and persistent supply shortages in London. Traders are awaiting the outcome of the US Section 232 investigation, which could lead to tariffs on silver. Concerns over potential taxes have kept the metal stockpiled in U.S. warehouses, reducing global inventories.
why is silver rising
Apart from geo-political tension, industrial demand and low supply are also the reasons behind the rise in silver prices. Silver is not just used in coins, jewelery or utensils. It has many industrial uses. After gold, silver is the best conductor. For both thermal energy and electricity. Both these metals are not in common use due to cost. Still, silver is used extensively in electronics, solar energy and auto industries. Another specialty in this is that it is anti-bacterial and non-toxic metal. Because of this, it also has medicinal properties and is also used directly in food like silver work.
Where is silver used
The list of its uses is long. In the electronics industry, it is used in making circuit boards, connectors and semiconductors in smartphones, tablets, laptops, computers and TVs. Silver plays an important role in the photovoltaic cells of solar panels. Apart from medicines, it is used in medical devices and batteries. In the auto industry, it is used in making electronic parts and sensors. Apart from this, silver is also used as a catalyst to speed up chemical equations in the petrochemical industry. Obviously, more than half of the production or consumption of silver goes into industrial production, and like gold, it does not even survive, but is consumed in very large quantities. Given the increasing needs of industries like electronics, AI and solar energy, experts predict that the industrial demand for silver is going to increase further.
