Silver prices on the Multi Commodity Exchange (MCX) touched ₹2 lakh per kg for the first time on Friday, marking a historic milestone for the precious metal in India. The surge comes amid a powerful global rally driven by tightening supply and strong investor demand.
On the international market, silver stayed above $63 per ounce, hovering near its all-time high. Analysts attribute the strength to a combination of structural supply constraints and a renewed rush toward safe-haven assets.
The bullish sentiment intensified after the U.S. Federal Reserve cut interest rates, making non-yielding metals like silver more attractive to investors. Lower rates typically weaken the dollar and boost demand for commodities priced in dollars, further supporting silver’s upward move.
MCX silver futures also saw heavy buying interest from retail and institutional investors, reflecting expectations of continued upside in the near term.
With both domestic and global markets aligned in momentum, silver’s record-breaking move above ₹2 lakh per kg underscores the strong appetite for precious metals in a shifting macroeconomic environment.
