Silver Hits New Record in India, Extends Six-Day Rally as Global Bullishness Intensifies

Silver prices surged to fresh lifetime highs in the domestic futures market on Monday, extending their record-breaking rally for a sixth consecutive session as strong investor demand, firm global cues and expectations of easier monetary policy boosted sentiment.

On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped ₹14,387, or nearly 6 percent, to touch an all-time high of ₹2,54,174 per kilogram. Market participants attributed the sharp rise to sustained buying interest, driven by global price strength and optimism around industrial demand for the metal.

Gold Trades Near Record Levels

Gold prices, meanwhile, remained close to their historic peaks in India. MCX gold futures for February delivery rose by ₹357, or 0.26 percent, to trade at ₹1,40,230 per 10 grams. The contract had hit a record high of ₹1,40,465 per 10 grams in the previous session, reflecting continued safe-haven demand.

Analysts say domestic gold prices have been supported by a combination of global uncertainty, central bank buying, and a weaker outlook for interest rates in major economies.

Global Markets: Silver Outshines Gold

In international markets, gold futures opened higher but later slipped into negative territory as investors booked profits after last week’s rally. On Comex, gold was trading around $4,536.80 per ounce, down $15.90, or 0.35 percent.

Silver, however, outperformed sharply on global exchanges. Comex silver futures surged past the $80-per-ounce mark for the first time, with the March 2026 contract climbing $5.47, or over 7 percent, to a record high of $82.67 per ounce.

Market experts point to expectations of interest rate cuts by the U.S. Federal Reserve next year, along with robust industrial demand — particularly from the renewable energy, electronics and electric vehicle sectors — as key drivers behind silver’s strong global rally.

What’s Driving the Rally

Silver’s dual role as both a precious and industrial metal has amplified its appeal in the current environment. While gold continues to benefit from safe-haven flows, silver is also drawing strength from expectations of sustained industrial consumption and tighter supply conditions.

With prices at record levels both domestically and internationally, traders are now closely watching global macroeconomic signals, central bank policy cues and demand trends to assess whether the rally can be sustained in the weeks ahead.