Silver has just crossed a psychological level that felt distant for years. Global spot prices surged past $100 an ounce, while MCX silver in India set fresh records, keeping the white metal firmly in headlines.
International silver prices touched $100 an ounce for the first time ever on Friday. Spot silver jumped sharply during New York trading hours, briefly hitting $100.29, as buying intensity returned across commodities.
The move adds to an already powerful run. Silver more than doubled in 2025 and has surged about 40% so far in the new year, showing how quickly momentum can build once a breakout begins.
In India, MCX silver domestic futures scaled a record high of ₹3,41,300 per kilogram during Friday’s session. Prices were also seen trading near ₹3,39,217, up around 2.05% from the previous close of ₹3,32,393.
This rally has been swift even by commodity standards. The previous peak of ₹3,38,804 recorded on January 22 was crossed.
One of the biggest short-term drivers has been the US dollar’s sharp decline, marking its weakest weekly performance in 7-months. A softer dollar generally improves affordability for global buyers, since silver becomes cheaper in local currency terms outside the United States.
That currency tailwind often acts like an invisible hand, quietly lifting demand and strengthening the price floor during sharp moves.
Silver has also benefited from a broader shift in investor behaviour. With renewed political noise and global flashpoints back in focus, interest has strengthened in assets that are viewed as protection against uncertainty.
Silver is no longer seen only as a precious metal. It is increasingly tied to real world industrial demand, which gives it a different edge compared with pure safe haven assets.
Key areas where silver demand is expanding include:
• Clean energy applications
• Electronics and advanced manufacturing
• Electric vehicles and charging systems
• High specification strategic uses linked to security and infrastructure
This matters because silver now sits at the intersection of financial demand and industrial demand, which can tighten the market faster than expected.
Read More: Silver’s Big Run in 2025: What Drove Prices to Record Highs in October-December 2025?
A major structural reason behind the focus on silver is supply. The global silver market has reportedly been in deficit for 5-consecutive years, meaning demand has stayed higher than mine supply.
When that happens, the gap is often filled by drawing down existing inventories. Over time, reduced above ground stockpiles can make the market more sensitive to sudden demand surges, supply disruptions, or sharp shifts in investor positioning.
A round number like $100 is not just a price point, it is a psychological milestone. Such levels tend to draw attention from traders, investors and institutions at the same time, which can increase both participation and volatility.
What stands out in this rally is that it is being supported by multiple forces together, currency movement, uncertainty driven flows, industrial relevance, and a supply backdrop that remains tight.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 24, 2026, 9:35 AM IST
Team Angel One
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