NEW DELHI 12 : Silver prices crossed a historic milestone in domestic markets today, with MCX silver futures briefly surging past the Rs 2 lakh per kg mark, underscoring the strong bullish momentum in the white metal. This new peak reflects a combination of firm international prices, expectations of lower global interest rates, and increased investor interest in precious metals as a hedge against inflation and geopolitical uncertainty.
On the Multi Commodity Exchange (MCX), near-month silver futures hit an all-time high of around Rs 2,00,000 per kg in intraday trade before witnessing mild profit-booking at higher levels. Analysts noted that the sharp rally has come on the back of steady gains over the past few weeks, with silver significantly outperforming in the broader commodities basket.
Market experts said the breakout above the Rs 2 lakh psychological barrier could attract more speculative and retail participation, though they also cautioned about heightened volatility at such elevated levels. They added that any further upside will depend on cues from the US Federal Reserve’s stance on interest rates, movements in the dollar index, and trends in industrial demand for silver from sectors like solar and electronics.
