Silver Prices Cross ₹3 Lakh per Kg in Futures Trade on Strong Global Cues
MCX silver hits record high as robust industrial demand and weak dollar lift prices
Mumbai, Jan 19 : Silver prices surged to a record high on Monday, crossing the ₹3 lakh per kilogram mark in futures trade for the first time, driven by strong investor demand and positive global market trends.
MCX Silver Hits Record High
On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped by ₹13,553, or 4.71 per cent, to touch an all-time high of ₹3,01,315 per kg.
In the international market, March silver futures climbed USD 5.81, or 6.56 per cent, to a record USD 94.35 per ounce, reflecting strong global momentum.
Industrial Demand, Weak Dollar Support Rally
Market analysts attributed the sharp rise to robust industrial demand, particularly from the electronics and renewable energy sectors, along with a weak US dollar, which boosted investor interest in precious metals.
Silver has outperformed gold in recent sessions, supported by improving economic outlooks and sustained buying interest, analysts said.
