Silver rate today: Silver price today hit a new record high of ₹3,00,000 per kg on the Multi Commodity Exchange (MCX) on Monday, January 19, on safe-haven buying amid rising geopolitical tensions.
Silver futures for the March 2026 contract on MCX opened higher at ₹2,93,100 per kg and surged to an intraday high of ₹3,01,315 per kg, marking a new record for the metal on the exchange.
Meanwhile, on the international front, spot silver was trading 4.4% higher at $93.85 an ounce, after reaching an all-time peak of $94.08.
What's behind the rally in silver prices today?
Donald Trump’s intensifying push to take over Greenland has sparked fears of a trade war between the US and Europe.
On Saturday, Trump promised to roll out a series of escalating tariffs on European allies unless the United States is permitted to purchase Greenland, intensifying the dispute over Denmark’s large Arctic territory.
On Sunday, European Union ambassadors reportedly reached a consensus to step up efforts to deter Trump from imposing these tariffs, while also preparing potential retaliatory actions if the duties are implemented, according to EU diplomats.
Trump’s latest tariff threats led U.S. stock futures and the dollar to fall, boosting investor demand for safe-haven assets such as gold, the yen, and the Swiss franc, in a widespread risk-averse market reaction.
Silver price outlook
According to Ponmudi R, CEO of Enrich Money, COMEX Silver continues to post strong weekly gains, supported by persistent industrial demand and chronic supply constraints.
Meanwhile, on MCX Silver, Ponmudi said that the white metal continues to respect its bullish channel structure after consolidation.
“ The ₹2,83,000– ₹2,80,000 zone acts as strong support, while a sustained move above ₹2,95,000 could accelerate prices toward ₹3,05,000– ₹3,20,000. Given the persistent supply gaps and rising industrial demand, the broader setup continues to favour aggressive dip-buying strategies,” he added.
On the technical outlook, Anuj Gupta, a SEBI-registered commodity expert, said that the silver rate today has given a decisive breakout above $93 per ounce.
Gupta further explained that if the white metal price sustains above this level for a few more hours, we can expect the precious metal to touch $95 in the immediate term and $100 in the near term.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
