Silver Rate Today: MCX Silver Surges 4% to ₹2.62 Lakh as Global Tensions Push Safe-Haven Demand

Market Performance

Silver Rate Today opened the week with a sharp move that caught the market’s attention.

On MCX, silver prices jumped over 4% in early trade. The contract opened higher by ₹10,109, reaching ₹2,62,834 per kg, compared to the previous close of ₹2,52,725 per kg. As the session progressed, silver touched an intraday high of ₹2,63,996 per kg, reflecting strong buying interest at higher levels.

Gold also moved in tandem. MCX gold prices opened 0.56% higher at ₹1,39,600 per 10 grams, against the earlier close of ₹1,38,819. During the session, gold climbed further and hit a high of ₹1,41,250 per 10 grams.

In the international market, the momentum remained strong:

• US gold futures rose 1.88% to $4,585.56 an ounce
• Spot gold gained 1.45% to $4,575.82 an ounce
• Gold marked a fresh record high of $4,601.17 an ounce
• Silver prices jumped 4.85% to $83.19
• Silver hit a lifetime high of $83.88 an ounce

The numbers show one clear pattern. Precious metals are moving fast, and the demand is coming from global uncertainty rather than local triggers.

Main News: Why Silver Rate Today Is Moving Sharply?

The rise in Silver Rate Today is closely tied to developments outside India.

Global precious metal prices surged as the US dollar weakened, following fresh developments involving the US Federal Reserve. The US Justice Department served grand jury subpoenas to the Federal Reserve Chairman in connection with his June congressional testimony related to renovations at the Fed’s headquarters.

This development rattled currency markets. The US dollar index slipped 0.3% to 98.899, snapping a five-day winning streak. A weaker dollar generally supports gold and silver prices, as they become more attractive for holders of other currencies.

At the same time, geopolitical tensions remained elevated, with intensifying protests in Iran adding to global uncertainty. In such phases, investors often lean toward precious metals, pushing prices higher across global exchanges.

Last week itself, silver had already surged nearly 10%, and Monday’s rally only extended that momentum.

Company & Market Details

While there is no company-specific trigger behind the move, the pricing action across MCX and global markets highlights how closely domestic bullion prices track international cues.

Key data points at a glance:

• MCX Silver Previous Close: ₹2,52,725 per kg
• MCX Silver Opening Price: ₹2,62,834 per kg
• MCX Silver Intraday High: ₹2,63,996 per kg
• MCX Gold Previous Close: ₹1,38,819 per 10 grams
• MCX Gold Opening Price: ₹1,39,600 per 10 grams
• MCX Gold Intraday High: ₹1,41,250 per 10 grams

Global pricing added further strength:

• Spot Gold Record High: $4,601.17 per ounce
• Silver Record High: $83.88 per ounce

These numbers underline how tightly aligned Indian bullion prices are with global movements in the dollar and geopolitical signals.

Summary

Silver Rate Today reflects a market driven by uncertainty rather than optimism.

A weaker US dollar, fresh developments involving the US Federal Reserve, and rising geopolitical tensions combined to push both silver and gold sharply higher. MCX silver crossing ₹2.62 lakh per kg and international silver touching record highs highlight how quickly sentiment can shift in global commodity markets.

For now, precious metals continue to mirror global anxiety, with prices reacting instantly to currency moves and political developments rather than domestic factors.

Source: Livemint