Silver rate today LIVE: MCX silver prices rally 6% on US-Venezuela conflict — Time to book gains or stay put?

In the near term, Silver and Gold are expected to remain well supported due to strong safe-haven demand arising from geopolitical uncertainty and global economic risks. Industrial demand for Silver and continued central bank interest in Gold add to the positive outlook. However, upside may be capped at higher levels as investors stay cautious and book profits after sharp rallies. Price volatility is likely to remain high, with frequent geopolitical developments, trade policy updates, supply-related news, margin changes, and speculative activities may cause sudden price swings. Investors are advised to follow a disciplined asset allocation approach, with around 15–20% allocation to precious metals, and consider systematic investments, which may be a better option at current elevated price levels.

— Satish Dondapati, Fund Manager, Kotak Mutual Fund

Silver prices are trading close to all-time highs due to strong industrial and investment demand, ongoing supply concerns, and global geopolitical tensions. Recent price swings in Silver were mainly caused by higher margin requirements announced by the CME and China’s Silver export restrictions by 1st of Jan. On Monday morning, Silver and Gold prices jumped sharply by over 4.5% and 2.5% respectively, driven by safe-haven buying after the US–Venezuela conflict news. Later, prices cooled down as investors booked profits at higher levels.

— Satish Dondapati, Fund Manager, Kotak Mutual Fund

As the new week unfolds, market focus now shifts squarely to upcoming inflation, GDP and PMI data from major economies, alongside delayed U.S. labour market releases, which are expected to play a critical role in shaping expectations for the monetary policy path and near-term direction of gold and silver prices.

— Manav Modi Commodities Analyst Motilal Oswal Financial Services

MCX silver prices traded ₹7600 or 3.2% higher at ₹243941 per kilogram on Monday, January 5 as of 4.35 pm. The white metal rose to as much as ₹249900 earlier in the day.

COMEX Silver has advanced toward $75.40 after rebounding sharply from year-end lows below $73, which were triggered by margin adjustments and thin liquidity. The metal is trading well above the 20-day EMA at $67.80, keeping the broader uptrend firmly intact. Resistance is now placed in the $76–$80 zone, while medium-term projections for 2026 continue to eye $90–$100, supported by structural demand from renewables, EVs, and technology sectors. Immediate support at $70–$68 offers attractive accumulation opportunities on corrections.

— Ponmudi R, CEO of Enrich Money

MCX Silver is trading near ₹2,45,275, extending its recovery after recent volatility. The bullish channel remains intact, with every dip attracting buying interest. A sustained move above ₹2,42,000 strengthens the upside bias, opening the path toward ₹2,46,000– ₹2,55,000.

Strong support is seen in the ₹2,42,000– ₹2,40,000 zone. The overall structure continues to favor accumulation over profit-booking, positioning silver as a high-volatility yet high-reward companion to gold within the ongoing bullion bull cycle.

Gold and silver witnessed sharp volatility last week, with prices facing heavy profit booking from higher levels as traders and investors locked in gains ahead of the year-end closing in international markets. However, during early Asian trading on Monday, both metals rebounded, with gold rising towards $4,400 per ounce and silver advancing to around $75 per ounce. The upside momentum was supported by renewed geopolitical tensions following reports of the United States capturing Venezuelan President Nicolas Maduro. Market participants will closely track further developments related to this event, along with the US ISM Manufacturing PMI data due later today. Meanwhile, weakness in the rupee continues to provide support to domestic bullion prices.

Silver has support at ₹2,33,150-2,31,780 while resistance at ₹2,37,810, 2,39,970.

— Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

The rally in gold, silver, and copper through 2025 was more than a market surge—it was a signal of deeper economic shifts. A 79% increase in gold price and a historic 140% surge in silver reflected two major trends: countries moving away from holding dollars as reserves, and rising prices eroding the value of paper money worldwide. Copper's 40% climb signals the energy transition is no longer a buzzword but a supply-constrained reality with no viable substitutes at scale.

For India, the paradox is acute. The import duty cuts on gold and silver from 15% to 6% should have catalysed consumption; however, the unchanged 3% GST continues to limit retail demand. Meanwhile, 50% US tariffs on jewellery exports create headwinds that lower import tariffs cannot fully offset. India’s copper demand is poised to accelerate as data centre capacity expands to 4–8 GW by 2030.

Looking ahead to 2026, the key question is whether central banks’ sustained gold purchases can uphold valuations if a technical reset emerges. Nevertheless, the underlying drivers—inflation, currency weakness, and geopolitical uncertainty—remain strong enough to overcome any correction, keeping gold prices anchored in the USD 4,500–5,000 range.

— Rajeev Sharan, Head – Criteria, Model Development & Research, Brickwork Ratings

Silver prices on MCX traded ₹6880 or 2.91% higher at ₹243,196/kg as of 1.15 pm. The white metal had hit a high of ₹249900, up 6% earlier in the day.

The silver market in 2025 has moved beyond a conventional bull cycle and entered a structural phase, driven by prolonged physical supply deficits, inventory depletion, and policy-led supply constraints. The widening disconnect between paper pricing and physical availability highlights deeper stress in global price discovery mechanisms.

A key driver behind this transformation has been China’s evolving role in the global silver supply chain. As one of the largest refiners and net importers of silver, China witnessed steady drawdowns in physical inventories throughout 2025, pushing stocks to decade-low levels. Proposed export licensing requirements starting January 1, 2026 further signal tighter control over outbound flows, restricting the availability of physical metal in global markets at a time when other inventory hubs are already under pressure.

— Navneet Damani, Head of Research – Commodities at Motilal Oswal Financial Services

Silver rose nearly 4% toward $76/oz, extending gains from the previous session after the US attacked Venezuela and arrested President Nicolas Maduro over the weekend, heightening geopolitical risks boosting demand for safe-haven metals.

President Trump said on Saturday that the US would “run” Venezuela until a proper political transition takes place, though Secretary of State Marco Rubio signaled that Washington has leverage to achieve its objectives without directly governing the country.

Investors also focused on key US economic data this week, led by the December jobs report on Friday, for insights into the Federal Reserve’s policy direction.

Last year, silver surged nearly 150% due to a combination of factors, including supply constraints, robust industrial and investment demand, and supportive macroeconomic conditions.

China, which produces 60-70% of global refined silver, has also imposed export restrictions this year, exacerbating a structural deficit.

MCX Silver March may appreciate ₹241,000/kg amid a strong bullish momentum in the international markets.

— Jigar Trivedi, Senior Research Analyst at Reliance Securities

MCX Silver traded with high volatility and ended the week lower by around 1.5%, though it managed to recover part of its early losses. On the weekly chart, the RSI has started turning down from the overbought zone, indicating weakening momentum and a possible near-term corrective phase.

A breakdown below ₹2,22,500 is likely to invite fresh selling, with prices expected to slide towards ₹2,05,000, followed by ₹2,00,000 on the downside. On the upside, ₹2,54,200 stands as a key resistance, and any recovery is likely to face selling pressure near this zone.

Recommendation: We recommend selling MCX Silver below ₹2,22,500, with a stop loss above ₹2,30,000 and targets of ₹2,05,000 and ₹2,00,000.

— Views by Axis Securities

24-carat precious metal is quoting ₹2,43,050 per kg. 24-carat 10 gm silver coin is quoting ₹2,258, while the 100 gm 24-carat silver coing is costing ₹2,4305.

Silver price in Delhi is quoting ₹6,530 higher at ₹2,42,510 per kg. Silver rate today in Delhi for 10 gm is priced ₹2,425, whereas 100 gm silver price in Delhi is ₹24,251.

“Unlike gold, silver has both industrial and investment value. Though, it is difficult to time the market, but I believe that silver prices are ready to top out. So, retail investors, who missed to enter in silver price rally, are advised to remain away from the white metal as institutions are expected to book profit after CDE's margin money raise,” said Amit Goel, Chief Global Strategist at Pace 360.

“COMEX Silver has advanced toward $75.40 after rebounding sharply from year-end lows below $73, which were triggered by margin adjustments and thin liquidity. The metal is trading well above the 20-day EMA at $67.80, keeping the broader uptrend firmly intact. Resistance is now placed in the $76–$80 zone, while medium-term projections for 2026 continue to eye $90–$100, supported by structural demand from renewables, EVs, and technology sectors. Immediate support at $70–$68 offers attractive accumulation opportunities on corrections,” said Ponmudi R of Enrich Money.

Whether silver prices would climb to a new peak in this rally caused by US-Venezuela conflict, Ponmudi R of enrich Money said, “MCX silver rate is sustaining above ₹2,40,000. If it continues to sustain above for few more hours, then we can expect silver rate to touch ₹2,50,000 and ₹2,60,000 in the next few sessions,” said Ponmudi R, CEO at Enrich Money.

“The price structure remains decisively bullish within the rising channel. Recent sessions formed an inside-harami consolidation pattern, indicating controlled consolidation after a strong up-move. Strong support is placed in the ₹2,30,000 to ₹2,23,000 range. A sustained hold above ₹2,40,000 could trigger an accelerated move toward ₹2,50,000 to ₹2,60,000,” said Ponmudi R of Enrich Money.

“COMEX Silver continues to trade firmly within its ascending channel, displaying strong momentum and a series of higher lows. Immediate support lies at $70–$68, while sustained strength could open the path toward $75–$80. Structural supply constraints and accelerating demand from green-energy segments continue to underpin silver’s bull phase, with corrections expected to remain shallow and well-supported,” said Ponmudi R, CEO at Enrich Money.

As reported by Reuters, silver was propelled to fresh highs by its designation as a critical U.S. mineral, supply constraints amid rising industrial and investment demand.

Following strong global cues, silver rates today on MCX opened with big upside gap and touched an intraday high of ₹2,49,900 per kg, logging around intraday rise of around 13,500 against the Friday's close of ₹2,36,316 per kg.

Asked about the silver price top, Amit Goel of Pace 360 said, “No one can time the market but silver price may top out in February if it breaches the current high of $82.670. In case of a new high, silver prices may top out around $100 per ounce levels.”

“The white metal has either made its top when it hit $82.670 per ounce high last week, or it may hit a new high in current US-Venezuela crisis as various exchanges have started raising margin money for traders. This is expected to cap silver price rally as it happened in 1980, when Hunt Brothers repoprtedly accumulated narly one-third of the global silver,” said Amit Goel of Pace 360.

“Various exchanges are expected to raise margin money as CDE did last week. In that case, marginal investors are expected to remain silent in this rally or they may not wait for long and book profit at small gains,” said Amit Goel of Pace 360.

"The US-Venezuela crisis has jeopardised the sea route that Peru and Chad — the world's biggest silver exporters — use for their silver export. This is expected to create demand-supply constraignt for silver in the global market. Similarly, gold prices would also rise on Monday,", said Sandeep Pandey, Co-founder of Basav Capital.

In an unprecedented move that stunned the entire world, the United States (US) attacked Venezuela on Saturday morning last week and abducted President Nicolas Maduro.

After climbing to an intraday high of $75.968 per ounce, COMEX silver price came under the profit-booking pressure and slipped below $75. Currently, COMEX silver price is quoting 74.600 per ounce.

Expecting the white metal move on both side, Amit Goel, Chief Global Strategist at Pace 360, said, “Due to the rise in the white metal at an alarming level, exchanges are expected to raise margin money, which we saw last week when CDE (Chicago Derivative Exchange) raised margin money for silver by 25%. So, I am expecting white metal movement both ways and investors are expected to book profit at short targets.”

Anuj Gupta of Ya Wealth said that silver rate today has immediate support placed at ₹2,32,000 per kg levels whereas the white metal has crucial support placed at 2,20,000 per kg levles. On the upper side, MCX silve rate has immediate hurdle placed at 2,40,000 kg levels. If the profit-bookin g doesn't trigger arouond this level, then the white metal may try to test ₹2,45,000 per kg levels.

“Silver prices are expected to gain momentum across globe and MCX won't be an exception during the opening bell on Monday. MCX silver rates may have a gap-up opening on Monday and the white metal may try to test ₹2,45,000 per kg level during the intraday trade,” said Anuj Gupta, Director at Ya Wealth.

“COMEX silver price has broken the immediate resistance placed at $75 and has been sustaining above this for the last one hour. This means bulls are not in the mood to book profit at this level. So, the white metal may try to test $78 per ounce levels if the profit-booking doesn't trigger soon. The immediate support for the COMEX silver price today is placed at $72 per ounce. The broader range of silver rate today is $72 to $78,” said Anuj Gupta of Ya Wealth.

Speaking on the outlook of silver rates today, Anuj Gupta, Director at Ya Wealth, said, “Silver price today is in a bull trend as the market is under the fear of demand-supply constraint caused by the US-Venezuela conflict. Following the US attacks on Venezuela, Peru and Chad — two major silver exporters in the global market — may struggle to export the white metal with ease. In that case, demand for the white metal may not be met. Thus market is discounted on that demand-supply gap.”

After hitting an intraday high of $75.968 per ounce, the white metal came close to its record high of 82.670, which it had made on Monday last week.

Silver rate today opened upside in the international market and touched an intraday high of $75.968 per ounce