Silver rate today: The silver prices at the New York-based COMEX climbed to hit a fresh all-time high level during Wednesday's commodity market session as the US Supreme Court (SC) decided to extend the decision on US President Donald Trump's tariffs by not ruling on 14 January 2026.
Silver rates jumped to hit a new record high of $92.165 per ounce, surging 6.7% during Wednesday's market session, compared to $86.338 per ounce at the previous commodity market close, according to the market data.
As of 10:38 p.m. (IST), the silver futures for the March 2026 contract were trading more than 5% higher at $90.753 per ounce, compared to $86.338 per ounce at the previous market session.
According to a Bloomberg report, the federal court has not specified when the bench will release its next opinions, but the SC could schedule more decisions on Tuesday or Wednesday next week.
The court arguments reportedly suggest that the Supreme Court was doubtful that Donald Trump had the authority to impose the tariffs under a 1977 law that gives the president special powers during emergency situations.
What's the outlook on silver rates?
Commodity analysts at Kotak Securities, in a note earlier this week, said that looking ahead, the precious metal prices, like that of gold and silver, are set to remain elevated amid the heightened volatility over the monetary policy uncertainty and global risk pressures.
“Looking ahead, the combination of monetary policy uncertainty and global risk pressures suggests continued support for gold and silver, with prices likely to remain elevated as long as volatility persists,” said the analysts in a note.
The experts also highlighted that the commodities are witnessing an increase due to the looming geopolitical tensions over the possible US intervention in the unrest in Iran and the heightened investor demand for safe-haven assets.
“Geopolitical tensions, particularly unrest in Iran and warnings against possible US intervention, further reinforced demand for defensive instruments, while softer US economic data has kept expectations of future rate cuts alive,” said the commodity analysts at Kotak Securities.
On Wednesday, Anuj Gupta, a SEBI-registered commodity expert, said that the decisive break above the $92 per ounce mark can likely fuel the precious metal prices to $95 per ounce in the upcoming sessions.
“On the upper side, the precious white metal is facing an immediate hurdle at $92. On decisively breaking above the $92 per ounce level, the white metal may soon reach the $95 per ounce mark,” said Gupta ahead of the fresh high.
MCX silver price today
Multi-Commodity Exchange (MCX) data showed that silver prices were trading 4.49% or ₹12,362/kg higher at ₹287,549/kg as of 10:39 p.m. (IST) on Wednesday, compared to ₹275,187/kg in the previous market session, according to the official data.
The silver prices in India hit its new record high level of ₹291,406 during Wednesday's commodity market session, as per MCX data on 14 January 2026.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
