Silver MCX price has witnessed a sharp surge, gaining nearly ₹32,000 in just two trading sessions, as strong global cues and rising safe-haven demand pushed the precious metal higher on the Multi Commodity Exchange (MCX). The sudden rally in silver prices has caught the attention of investors and traders alike, raising questions about whether the momentum will continue in the coming days. Factors such as a weaker US dollar, geopolitical uncertainty, and increased industrial demand are being seen as key drivers behind the recent jump in Silver MCX futures.
Silver MCX Price Hits Record High on Strong Market Cues
Silver MCX price continued its strong upward momentum, crossing the crucial ₹3 lakh level as buying interest intensified across domestic and global markets. On the Multi Commodity Exchange (MCX), silver futures gained sharply, supported by a weaker US dollar, ongoing geopolitical tensions, and sustained demand from industrial sectors such as electronics and renewable energy.
Market experts note that Silver MCX price has been benefiting from a combination of safe-haven demand and improving industrial outlook, which has led to heavy inflows from traders and investors. With silver already gaining over ₹74,000 so far this year, analysts believe volatility may remain high in the near term, while long-term sentiment continues to stay bullish.
Gold and silver prices touched fresh all-time highs for the second consecutive day on January 20. According to the India Bullion and Jewellers Association (IBJA), silver crossed the ₹3 lakh per kg mark for the first time in the domestic bullion market.
Silver prices jumped sharply by ₹10,888, taking the rate to ₹3,04,863 per kg, compared to ₹2,93,975 per kg in the previous session. On the MCX, silver had already crossed the ₹3 lakh level earlier. Notably, silver has surged by ₹74,443 in just the first 20 days of this year.
Gold prices also witnessed strong gains. The yellow metal rose by ₹2,429 to reach ₹1,46,375 per 10 grams, up from ₹1,43,946 per 10 grams yesterday. So far this year, gold prices have increased by ₹13,180.
What are the gold and silver prices on IBJA?
Gold and silver prices on MCX are continuously hitting new record highs, which is directly impacting spot or real-time rates as well. If we look at the IBJA (India Bullion and Jewellers Association) rates, excluding futures trading, the price of 24-carat gold stood at ₹1,46,375 per 10 grams this morning.
At the same time, 22-carat gold was priced at ₹1,45,789 per 10 grams. These are morning rates, and prices may change by evening depending on market movements.
As for silver, the IBJA rate today stood at ₹3,04,863 per kg. However, fluctuations are expected in evening trade. Since the beginning of 2026, gold and silver prices have remained on an upward trend, attracting strong interest from investors.
Why are gold and silver prices rising?
Global markets have turned volatile due to US President Donald Trump’s renewed efforts to acquire Greenland and Washington’s plan to impose a 10% tariff on eight European countries, including France, Germany, and the UK, starting February 1. There are concerns that these tariffs could rise to 25% by June, adding to market uncertainty. This geopolitical tension is having a visible impact on both global and domestic markets.
In response, Europe is considering retaliatory measures on over $100 billion worth of US goods, raising fears of a trade war among NATO allies. As uncertainty grows, investors are increasingly shifting toward the “sell America” trade, which has boosted demand for safe-haven assets such as gold and silver.
On the domestic front, the Indian rupee has weakened significantly since the start of 2026. On the NSE, USD/INR January futures are currently trading above 91, indicating a decline of more than one rupee so far this year. As a result, domestic investors are benefiting from two supporting factors simultaneously, rising global gold prices and a weakening rupee both of which are enhancing overall returns.
Also read: Nipah Virus Scare: West Bengal Reports Suspected Infections in Nurses
Add Economic Edge as a preferred source on Google – Click Here
Last Updated on: Tuesday, January 20, 2026 3:52 pm by Koushik Velpuri | Published by: Koushik Velpuri on Tuesday, January 20, 2026 3:52 pm | News Categories: Business
About The Author
