The silver rate today saw a significant surge on MCX, climbing over ₹8,000 per kilogram as geopolitical tensions kept investors cautious. The metal’s gains were supported by uncertainty surrounding the US-Iran nuclear negotiations, which extended without a concrete breakthrough, keeping the market on edge.
At the same time, the US dollar remained close to a three-week high, which capped silver’s gains since a stronger dollar makes metals priced in dollars more costly for buyers using other currencies.
Market Performance
- MCX Silver: ₹2,68,009 per kg, up ₹8,340 (3.2%)
- MCX Gold: ₹1,60,234 per 10 grams, up 0.3%
In global markets, precious metals also saw moderate gains:
- Spot Silver: $88.81 per ounce, up 0.6%
- Spot Gold: $5,187.39 per ounce, largely steady
- US Gold Futures (April): $5,204.10, up 0.2%
- Spot Platinum: $2,286.53 per ounce, up 0.6%
- Palladium: $1,794.13 per ounce, up 0.5%
The rally in silver and gold came after bullion reached more than three-week highs earlier in the week. Spot silver touched a notable high on Wednesday, reflecting growing safe-haven demand amid rising geopolitical concerns.
Drivers Behind Silver Rate Today
The primary factor driving silver higher is the ongoing uncertainty over Iran’s nuclear program. Indirect talks in Geneva showed some progress, but no decisive breakthrough emerged, leaving potential US military action on the table.
Key geopolitical influences include:
- Expansion of US military presence in the Middle East
- Fresh sanctions by the US on entities tied to Iran’s oil and weapons exports
- Persistent uncertainty around global trade and economic conditions
These factors combined to support precious metals as investors sought safety amid market volatility.
Company & Commodity Summary
- MCX Silver: ₹2,68,009 per kg (up 3.2%)
- MCX Gold: ₹1,60,234 per 10 grams (up 0.3%)
- Spot Silver: $88.81 per ounce
- Spot Gold: $5,187.39 per ounce
- Spot Platinum: $2,286.53 per ounce
- Spot Palladium: $1,794.13 per ounce
The rise in silver and gold mirrors international trends, where both metals climbed steadily in response to global uncertainty.
Summary
The silver rate today surged over ₹8,000 amid a mix of geopolitical tensions and a strong US dollar. MCX silver crossed ₹2,68,000 per kg, while gold maintained modest gains at ₹1,60,234 per 10 grams. Internationally, spot silver touched $88.81 per ounce, and platinum and palladium edged higher as safe-haven demand strengthened.
With uncertainty in the US-Iran nuclear talks continuing, precious metals remain in focus, offering investors a glimpse into how global events can impact commodity markets.
Source: Livemint
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