Silver price today: MCX silver hits record Rs 3.59 lakh per kg; outlook remains bullish
MCX silver opened 1.53 per cent higher at Rs 3,39,824 per kg compared with its previous close of Rs 3,34,699. During the session, prices jumped sharply by Rs 22,010, or 6.58 per cent, to Rs 3,56,709 per kg, before touching a lifetime high of Rs 3,59,800 per kg.
- Jan 27, 2026,
- Updated Jan 27, 2026 12:45 PM IST
Silver prices on the Multi-Commodity Exchange (MCX) surged to a fresh all-time high on Tuesday, extending the ongoing record-breaking rally in domestic bullion markets, tracking strong momentum in global prices and robust industrial demand. Both gold and silver opened higher, reflecting sustained investor interest in precious metals.
MCX silver opened 1.53 per cent higher at Rs 3,39,824 per kg compared with its previous close of Rs 3,34,699. During the session, prices jumped sharply by Rs 22,010, or 6.58 per cent, to Rs 3,56,709 per kg, before touching a lifetime high of Rs 3,59,800 per kg. The metal had earlier recorded a previous peak of Rs 3,39,927 per kg on January 23, 2026.
In contrast, global silver prices witnessed some profit-taking after recent sharp gains. On COMEX, silver slipped 5.61 per cent to trade near $109 per ounce as of 4:42 am GMT on January 27. The metal had rallied to a peak of $117 per ounce on Monday amid heightened geopolitical tensions linked to policy signals from US President Donald Trump, alongside continued strength in industrial consumption.
According to the Indian Bullion Jewellers Association (IBJA), silver was priced at Rs 3,17,705 per kg in its January 23 evening session, marking a 6 per cent rise from the previous level of Rs 2,99,711 per kg.
Market experts remain constructive on silver’s outlook. Ponmudi R, CEO of Enrich Money, said COMEX silver has broken decisively above the key $110–$112 psychological resistance and is currently consolidating in the $106.55–$111.13 range after marginal profit-booking. Prices continue to trade well above major moving averages within a steep upward channel.
He noted that strong structural demand from solar energy, electric vehicles, AI-driven data centres and electronics, combined with safe-haven buying and inflation-hedge flows, is underpinning the rally. Near-term support is seen at $108–$109.50, with a stronger base at $103–$105. A sustained move above the $117.50–$120 zone could propel prices towards $125–$140 in the next leg, with the medium-to-long-term outlook for 2026 remaining strongly bullish amid persistent supply deficits.
Silver prices on the Multi-Commodity Exchange (MCX) surged to a fresh all-time high on Tuesday, extending the ongoing record-breaking rally in domestic bullion markets, tracking strong momentum in global prices and robust industrial demand. Both gold and silver opened higher, reflecting sustained investor interest in precious metals.
MCX silver opened 1.53 per cent higher at Rs 3,39,824 per kg compared with its previous close of Rs 3,34,699. During the session, prices jumped sharply by Rs 22,010, or 6.58 per cent, to Rs 3,56,709 per kg, before touching a lifetime high of Rs 3,59,800 per kg. The metal had earlier recorded a previous peak of Rs 3,39,927 per kg on January 23, 2026.
In contrast, global silver prices witnessed some profit-taking after recent sharp gains. On COMEX, silver slipped 5.61 per cent to trade near $109 per ounce as of 4:42 am GMT on January 27. The metal had rallied to a peak of $117 per ounce on Monday amid heightened geopolitical tensions linked to policy signals from US President Donald Trump, alongside continued strength in industrial consumption.
According to the Indian Bullion Jewellers Association (IBJA), silver was priced at Rs 3,17,705 per kg in its January 23 evening session, marking a 6 per cent rise from the previous level of Rs 2,99,711 per kg.
Market experts remain constructive on silver’s outlook. Ponmudi R, CEO of Enrich Money, said COMEX silver has broken decisively above the key $110–$112 psychological resistance and is currently consolidating in the $106.55–$111.13 range after marginal profit-booking. Prices continue to trade well above major moving averages within a steep upward channel.
He noted that strong structural demand from solar energy, electric vehicles, AI-driven data centres and electronics, combined with safe-haven buying and inflation-hedge flows, is underpinning the rally. Near-term support is seen at $108–$109.50, with a stronger base at $103–$105. A sustained move above the $117.50–$120 zone could propel prices towards $125–$140 in the next leg, with the medium-to-long-term outlook for 2026 remaining strongly bullish amid persistent supply deficits.