The Silver price today turned sharply higher on February 23. The move was strong. Fast. Decisive.
On MCX, silver futures opened at ₹2,67,673 per kilogram, marking a 5.82% gain from the previous close. That’s not a small move for a precious metal. It signals urgency. It signals risk-off mood.
Globally too, the story remained the same. On Comex, spot silver traded at $86.90 per ounce, up 5.65%.
The rally in silver price today reflects rising geopolitical tensions and fresh global tariff measures imposed by the US. Investors are clearly moving toward safe-haven assets.
Let’s break this down in simple terms.
Market Performance: Silver Price Today Across MCX, Comex and IBJA
The momentum in silver wasn’t isolated to one exchange. The spike was visible across domestic and global platforms.
MCX Silver Futures
- Open price: ₹2,67,673 per kg
- Gain: 5.82% from previous close
Comex Spot Silver
- Price: $86.90 per ounce
- Increase: 5.65%
IBJA Silver Rate
The Indian Bullion Jewellers Association (IBJA) pegged standard silver (999 purity) at:
- ₹2,50,314 per kilogram
- Rise: 2.26%
Even IBJA rates showed firm upward movement, confirming strength in the physical market as well.
The silver price today is not rising quietly. It is moving with conviction.
Why Silver Price Today Is Rising?
The trigger is global uncertainty.
Geopolitical developments are intensifying. Global tariff measures from the US have added fresh friction in international trade. This automatically increases risk in financial markets.
When uncertainty rises, investors shift money.
They move toward:
- Gold
- Silver
- Dollar-backed assets
Silver price today is reflecting that shift.
Another key factor is inventory contraction. Warehouses, especially Comex, are witnessing a noticeable drawdown in silver inventories. Lower supply with rising demand creates price pressure.
On top of this, China remains shut, tightening supply dynamics further.
Dollar Strength and Silver Price Movement
Interestingly, the US dollar has strengthened.
Normally, a strong dollar creates pressure on metals. But this time, safe-haven demand is dominating.
Earlier softer US inflation data had increased expectations of multiple rate cuts. However, stronger nonfarm payroll numbers and steady economic growth have reduced the probability of aggressive rate easing.
This has:
- Supported the US dollar
- Created mixed signals for precious metals
Despite that, the silver price today held strong due to uncertainty and risk-driven buying.
What Global Markets Are Watching Now?
The market focus has shifted to upcoming US macroeconomic data.
This week, traders are closely tracking:
- US Factory Orders
- Consumer Confidence
- PPI (Producer Price Index) Data
- Minutes of the Federal Reserve’s January Meeting
The Fed minutes are particularly crucial. Any clarity on the future interest rate path will directly influence precious metals.
Silver price today is reacting ahead of these signals.
Inventory Drawdown: A Strong Structural Factor
There has been a large drawdown of silver inventories across major warehouses, especially on Comex.
Inventory decline means supply tightness.
When supply tightens while demand remains stable or rises, prices adjust upward. The current rally in silver price today is partially rooted in this structural factor.
It’s not just headlines. It’s data-backed.
Geopolitical Developments Supporting Safe-Haven Demand
Global tensions continue to remain active.
Key developments include:
- Renewed US–Iran nuclear talks
- Ongoing Russia–Ukraine negotiations
Even if talks are underway, uncertainty persists. And markets hate uncertainty.
Silver price today reflects that global caution.
Safe-haven buying is active.
Silver Trading Range Context
Recent reports suggest silver is expected to move within a broad range of:
- $70 to $90 globally
- ₹2,25,000 to ₹2,85,000 domestically
Any move below $70 could push prices toward $64, which translates to around ₹2,00,000.
For now, silver price today is positioned near the upper end of the projected band.
City-Wise Silver Rates in India
Across major Indian cities, silver rates showed broad uniformity.
Minor variations exist due to:
- Local taxes
- Jeweller margins
- Transportation and logistics
But overall, silver price today remained aligned nationally.
Company and Industry Context
The silver rally impacts multiple sectors:
- Bullion traders
- Jewellery manufacturers
- Industrial silver consumers
- Commodity exchanges like MCX
Higher silver prices typically influence jewellery pricing, retail margins, and industrial input costs.
Investors are watching these ripple effects closely.
What Silver Price Today Indicates for Market Sentiment?
This move is emotional. It’s reactive.
The near 6% jump tells us markets are:
- Prioritising safety
- Reacting to global trade tensions
- Watching US monetary policy closely
Silver is acting as a hedge.
Whenever uncertainty spikes, metals respond first.
Summary: Silver Price Today Shows Strong Safe-Haven Momentum
The silver price today surged nearly 6% on MCX, tracking global cues.
Key highlights:
- ₹2,67,673/kg on MCX (+5.82%)
- $86.90/oz on Comex (+5.65%)
- ₹2,50,314/kg IBJA rate (+2.26%)
- Inventory drawdown visible
- Geopolitical tensions elevated
- Markets awaiting Fed minutes
Right now, silver is not just moving. It is reacting to global uncertainty, dollar strength, tariff developments, and tighter inventories.
The next trigger will come from US data and Federal Reserve commentary.
Until then, the silver price today remains firmly in focus across global and Indian markets.
And if the current mood continues, volatility may stay elevated.
Source: Moneycontrol
Easy & quick
Leave A Comment?