Silver Hits Record High of Rs 2.64 Lakh Per Kg on MCX Amid Geopolitical Tensions
Silver achieved a record high of Rs 2,63,996 per kg on MCX before settling at Rs 2,62,092, gaining 3.71% amid geopolitical tensions and Federal Reserve policy expectations. The metal posted over 7% weekly gains driven by Middle East tensions and Venezuela instability. Experts see potential for Rs 2.80-3.00 lakh targets while noting support around Rs 2.45-2.48 lakh levels.

*this image is generated using AI for illustrative purposes only.
Silver prices achieved a remarkable milestone on the Multi Commodity Exchange (MCX), hitting a fresh lifetime high as investors sought refuge in precious metals amid escalating global uncertainties. The March 2026 contract surged to Rs 2,63,996 per kg during the trading session before easing to Rs 2,62,092, marking a substantial daily gain of Rs 9,367 or 3.71%.
Strong Weekly Performance Driven by Global Factors
The precious metal's exceptional performance extended beyond the single session, with silver climbing over 7.00% during the previous week. This surge was primarily attributed to mounting tensions in the Middle East, political instability in Venezuela, and renewed pressure on the U.S. Federal Reserve regarding monetary policy decisions.
| Performance Metric: | Value |
|---|---|
| Intraday High: | Rs 2,63,996/kg |
| Closing Price: | Rs 2,62,092/kg |
| Daily Gain: | Rs 9,367 (3.71%) |
| Weekly Performance: | +7.00% |
With inflation showing signs of cooling and expectations of a prolonged rate pause gaining momentum, investors have increasingly turned to precious metals as safe-haven assets, providing substantial support to silver prices.
Expert Analysis Points to Continued Momentum
Ponmudi R, CEO of Enrich Money, emphasized silver's strong underlying demand characteristics, noting the metal's behavior as a "high-beta leader within the precious metals space." According to his analysis, silver continues to demonstrate aggressive absorption of price dips, indicating robust market support.
The technical outlook remains constructive, with key resistance and support levels clearly defined:
| Technical Levels: | Price Range |
|---|---|
| Critical Support: | Rs 2,65,000 |
| Breakout Target: | Rs 2,70,000 |
| Extended Targets: | Rs 2,80,000 - Rs 3,00,000 |
| Downside Support: | Rs 2,45,000 - Rs 2,48,000 |
International Market Dynamics
Rahul Kalantri, VP Commodities at Mehta Equities, highlighted the reinforcing factors behind silver's upward trajectory, including both global risk factors and speculative interest. His technical analysis reveals specific support and resistance zones that traders are monitoring closely.
On the international front, silver maintains strength above $78.00 per ounce, with immediate resistance positioned near $82.70. The domestic market shows technical support around Rs 2,48,810 and Rs 2,44,170, with resistance at Rs 2,59,470.
Balanced Outlook Amid Volatility Concerns
While the current environment appears favorable for precious metals, some market participants urge caution regarding silver's sharp ascent. Ross Maxwell, Global Strategy Operations Lead at VT Markets, acknowledged the long-term support from industrial demand, particularly from green technologies, while noting potential short-term risks.
Maxwell's analysis suggests that speculative inflows attracted by recent rallies could reverse quickly if macro risk appetite returns or speculative interest diminishes. However, he believes a sustained crash remains unlikely unless broader market sentiment shifts decisively toward risk-on assets.
Market Outlook
Silver's current trajectory reflects a convergence of multiple supportive factors, including safe-haven buying, strong industrial demand, and favorable technical positioning. The metal's performance underscores its dual nature as both an industrial commodity and a store of value during uncertain times.
Market participants continue to monitor key support zones and global developments that could influence silver's direction in the coming sessions, with volatility expected to remain elevated as various market forces compete for influence.















































