India’s bullion market witnessed a historic moment on Monday, January 19, 2026, as silver prices crossed the ₹3 lakh per kilogram mark for the very first time. The precious metal surged sharply on the Multi Commodity Exchange (MCX), surprising traders, investors, and jewellery buyers alike.
As soon as trading opened, silver futures jumped by more than ₹13,000 in a single session, pushing the rate beyond ₹3,01,000 per kg — a lifetime high in Indian market history.
At the beginning of January, silver was trading around ₹2.38 lakh per kg, but strong global cues and heavy buying have driven prices up at a rapid pace over the last few weeks.
What’s Behind This Massive Rally?
Experts say multiple factors are fueling silver’s record-breaking rise:
- Global uncertainty: Investors are moving money into safe-haven assets like silver and gold.
- Rising industrial demand: Silver is widely used in solar panels, electronics, and electric vehicles.
- Weak rupee: A softer rupee against the dollar makes imported metals more expensive in India.
- Strong international prices: Global silver markets are also trading near record highs.
Gold Prices Also Move Up
Gold prices also witnessed a strong rally alongside silver. The price of 10 grams of gold increased across major Indian cities, reflecting strong demand in the precious metals market.
What Does This Mean for Buyers?
While investors are celebrating record profits, jewellery buyers may feel the pinch. High prices could impact wedding season purchases and retail demand in the coming weeks.
However, market analysts believe silver may continue to remain volatile and could see further movement depending on global economic developments.
With silver now trading at historic levels, all eyes are on whether the metal will hold above ₹3 lakh or see some profit booking in the days ahead.