Silver prices breach ₹4 lakh per kg mark in futures trade amid strong global cues

Silver prices on Thursday (January 29, 2026) breached the record ₹4 lakh per kilogram mark in futures trade, while gold touched a lifetime high of ₹1.8 lakh per 10 grams, riding on strong investor demand and record gains in the international markets.

On the Multi Commodity Exchange (MCX), silver futures for March delivery zoomed ₹22,090, or 5.73%, to hit an all-time high of ₹4,07,456 per kilogram.

Gold futures also witnessed robust buying by investors. The yellow metal for February delivery soared ₹14,586, or 8.8%, to touch a new peak of ₹1,80,501 per 10 grams on the MCX.

In the international market, gold futures on the Comex surpassed the crucial $5,600 per ounce-mark for the first time. The yellow metal for April delivery gained $286.6, or 5.4%, to scale a fresh peak of $5,626.8 per ounce.

Comex silver futures also rose sharply to touch a fresh record of $119.51 per ounce in the overseas markets.

Analysts said that upbeat industrial demand in silver and a weak U.S. dollar lent further support to the white metal, which has been outperforming gold in recent sessions.

They added that persistent safe-haven buying by traders amid economic uncertainties and rising geopolitical tensions continued to fuel the rally in bullion prices.