Silver prices hit 3 lakh per kg after sudden surge of over ₹13,000

Silver prices led the rally in precious metals on Monday, January 19, 2026, as futures on the Multi Commodity Exchange soared to fresh record highs amid a strong shift toward safe-haven assets driven by renewed trade tensions between the US and Europe, reports said.

Silver futures maturing on March 5, 2025, opened higher and surged sharply during the session, hitting an all-time high of Rs 3,01,315 per kg. This marked a jump of Rs 13,553, or 4.71 per cent, reflecting strong investor demand. The contract was last seen trading at Rs 3,00,429 per kg, up Rs 12,667 or 4.40 per cent.

Gold futures also posted solid gains, supporting the broader precious metals rally. The February 5 gold contract on MCX opened higher and climbed to a lifetime high of Rs 1,45,500 per 10 grams before easing slightly. Gold futures were last trading at Rs 1,44,955, up 1.71 per cent from the previous close.

In the international market, gold prices strengthened, with COMEX gold rising nearly 1.8 per cent to trade around USD 4,677 per troy ounce, while spot gold gained over 1.6 per cent. The global rally supported domestic sentiment across bullion counters.

In the physical market, silver prices remained elevated across major cities, with rates touching Rs 3,05,000 per kg in Delhi, Mumbai and Kolkata, while Chennai recorded a higher price of Rs 3,18,000 per kg. Gold prices also stayed firm across metros, tracking gains in futures and global markets.