Silver prices: MCX futures jumped Rs 12,800 today; what's ahead?
Silver: Rising retail participation and growing interest from HNI and family capital are positioning silver as a portfolio diversifier alongside gold, said an expert.
- Jan 14, 2026,
- Updated Jan 14, 2026 1:06 PM IST
MCX silver futures for March 5 delivery surged Rs 12,803 per kg in Wednesday’s trade, hitting a high of Rs 2,87,990 per kg. At 11.46 am, the precious metal was trading Rs 10,387, or 3.77 per cent, higher at Rs 2,85,574 per kg. Analysts said silver is emerging as one of the most compelling strategic metals in the current cycle, sitting at the intersection of investment demand and industrial transformation.
In India, said Rajkumar Subramanian, Head of Products and Family Offices at PL Wealth Management, this dual character is even more pronounced. "Beyond its traditional role as a store of value, silver is increasingly driven by structural demand from solar energy, electronics, electric mobility and advanced manufacturing. As India accelerates its renewable and infrastructure ambitions, silver’s industrial relevance strengthens its long-term price support. At the same time, rising retail participation and growing interest from HNI and family capital are positioning silver as a portfolio diversifier alongside gold," he said.
Ponmudi R, CEO of Enrich Money said MCX silver, trading around Rs 2,86,000, is deeply embedded in a strong bullish channel. "Persistent buying on dips highlights robust demand and positions silver as a high-beta outperformer within the precious metals space. Sustained strength above Rs 2,85,000 keeps the upside bias intact, with potential breakout targets at Rs 2,90,000–3,00,000-plus. On the downside, a corrective dip below Rs 2,70,000 could test Rs 2,65,000–2,48,000 levels, where fresh accumulation is expected to emerge," he said.
Vandana Bharti, Head of Commodity Research at SMC Global Securities said silver prices have crossed $89 per ounce in the international market and may soon target the $100-mark. In an interview to Business Today, Bharti said the premium for silver may go up, with rising deficit in physical delivery. She advised traders to go in for fresh buying in the Rs 2.7-2.65 lakh range. She said traders should consider only intraday trading for now.
Sneha Jain, smallcase Manager, Founder & CEO, WealthTrust Capital Services said gold–silver ratio has reverted to its historical median, suggesting silver now looks fairly overvalued at current prices. At the current ratio, gold offers a higher implied one-year forward return than silver, reflecting relatively better risk-reward at this juncture, she said.
Subramanian advised investors to remain mindful that silver is inherently more volatile than gold, with sharper price swings driven by global growth expectations, dollar movements and speculative flows. "It is best approached with disciplined allocation and a medium- to long-term perspective,” Subramanian said.
MCX silver futures for March 5 delivery surged Rs 12,803 per kg in Wednesday’s trade, hitting a high of Rs 2,87,990 per kg. At 11.46 am, the precious metal was trading Rs 10,387, or 3.77 per cent, higher at Rs 2,85,574 per kg. Analysts said silver is emerging as one of the most compelling strategic metals in the current cycle, sitting at the intersection of investment demand and industrial transformation.
In India, said Rajkumar Subramanian, Head of Products and Family Offices at PL Wealth Management, this dual character is even more pronounced. "Beyond its traditional role as a store of value, silver is increasingly driven by structural demand from solar energy, electronics, electric mobility and advanced manufacturing. As India accelerates its renewable and infrastructure ambitions, silver’s industrial relevance strengthens its long-term price support. At the same time, rising retail participation and growing interest from HNI and family capital are positioning silver as a portfolio diversifier alongside gold," he said.
Ponmudi R, CEO of Enrich Money said MCX silver, trading around Rs 2,86,000, is deeply embedded in a strong bullish channel. "Persistent buying on dips highlights robust demand and positions silver as a high-beta outperformer within the precious metals space. Sustained strength above Rs 2,85,000 keeps the upside bias intact, with potential breakout targets at Rs 2,90,000–3,00,000-plus. On the downside, a corrective dip below Rs 2,70,000 could test Rs 2,65,000–2,48,000 levels, where fresh accumulation is expected to emerge," he said.
Vandana Bharti, Head of Commodity Research at SMC Global Securities said silver prices have crossed $89 per ounce in the international market and may soon target the $100-mark. In an interview to Business Today, Bharti said the premium for silver may go up, with rising deficit in physical delivery. She advised traders to go in for fresh buying in the Rs 2.7-2.65 lakh range. She said traders should consider only intraday trading for now.
Sneha Jain, smallcase Manager, Founder & CEO, WealthTrust Capital Services said gold–silver ratio has reverted to its historical median, suggesting silver now looks fairly overvalued at current prices. At the current ratio, gold offers a higher implied one-year forward return than silver, reflecting relatively better risk-reward at this juncture, she said.
Subramanian advised investors to remain mindful that silver is inherently more volatile than gold, with sharper price swings driven by global growth expectations, dollar movements and speculative flows. "It is best approached with disciplined allocation and a medium- to long-term perspective,” Subramanian said.