Silver jumps to fresh record on MCX

Silver futures rallied sharply by Rs 8,356 to hit a fresh record of Rs 2,06,111 per kilogram amid strong global cues, persistent supply concerns and expectations of rate cuts by the Federal Reserve next year. Silver futures for March contract surged by Rs 8,356, or 4.2 per cent, to hit a fresh peak of Rs 2,06,111 per kilogram. It had closed at Rs 1,97,755 per kg on Tuesday.

The May 2026 contract for silver also witnessed heavy buying, jumping by Rs 8,266, or 4.12 per cent to touch a lifetime high of Rs 2,08,914 per kilogram. So far in this year, silver prices have added Rs 1,18,533, or 135.34 per cent, from Rs 87,578 per kilogram on January 1, 2025, reflecting sustained investor interest in the metal. However, gold futures traded lower after opening on a positive note.

The precious metal for February delivery decreased by Rs 359, or 0.27 per cent, to Rs 1,34,050 per 10 grams, compared with the previous close of Rs 1,34,409 per 10 grams. The April 2026 contract for the yellow metal also dipped by Rs 293, or 0.21 per cent, to Rs 1,37,117 per 10 grams.