Silver prices surged to a record high in futures trade on Monday, crossing the ₹3 lakh per kilogram mark for the first time, supported by strong global cues and rising investor demand.
On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped by ₹13,553, or 4.71%, to hit an all-time high of ₹3,01,315 per kilogram during the session.
The rally was mirrored in international markets. On global commodity exchanges, the March silver futures contract rose by $5.81, or 6.56%, to touch a record high of $94.35 per ounce.
Market analysts attributed the sharp rise to robust industrial demand for silver, particularly from sectors such as electronics, renewable energy, and manufacturing. A weaker US dollar also supported prices, making dollar-denominated commodities more attractive to investors.
Silver has been outperforming gold in recent sessions, as demand for the white metal remains strong amid expectations of continued industrial consumption and global economic adjustments. Analysts noted that silver’s dual role as both an industrial metal and a precious asset has contributed to heightened investor interest.
Market participants are closely watching global economic indicators, currency movements, and industrial demand trends for further cues on price direction.