Silver prices in India have hit yet another record today, with the white metal experiencing a stunning rally of nearly Rs. 35,000 per kg in just two sessions. The sharp surge has taken the bullion market by surprise, as silver continues to outperform expectations amid strong global cues and rising investment demand.
Over the last 10 days alone, silver prices have jumped around 25% and is one of the fastest rallies in silver seen in recent times.
Silver was once considered poor man’s gold; the sharp rise in silver rates is now challenging that perception. In India, demand for both gold and silver is always strong throughout the year but the buying interest is currently very high.
Silver prices also breached fresh records in the international market, with spot silver climbing above $110 per ounce, its highest level so far. Market participants are now closely tracking upcoming US inflation data, which could further influence precious metal prices.
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Silver rate in India today, January 27
On Tuesday, Jan 27, silver rates in India today are retailing at Rs. 3,70,00 per kg, and they rose by Rs. 10000 today. The 100 g of silver is now costing Rs. 37,000, which jumped by Rs. 100
According to a report by Nirmal Bang Securities, “Silver prices are expected to rise. One can buy at 360000 with a stop loss of 350000 for the target 370000-380000.”
On the multi commodity Exchange Silver Futures Prices surged 5% today to trade at Rs. 3,51,305 per kg.
“MCX Silver March is expected to rise towards Rs. 355,000- Rs.360,000 level as long as it stays above the Rs. 330,000 level,” as per ICICI Commodity Report.
Silver Prices in Other Major Indian Cities
Silver prices in Chennai today also rose, as 1 kg of silver in Chennai costs Rs. 3,87,000 after rising by Rs. 12,000.
Silver prices in Bangalore today, on January 27, are Rs. 3,70,000 per 1 kg, which rose by Rs. 10000.
Spot Silver Price
Spot silver rose 5.6% to $109.76 an ounce at the time of writing “Silver surged more than 6% to above $110 per ounce on Tuesday, extending its record run as geopolitical and trade risks, along with investor flight from sovereign bonds and currencies, boosted safe-haven demand for precious metals. Investors are also weighing the upcoming US Federal Reserve policy decision, though concerns about the Fed’s independence and speculation that Trump may announce a new Fed chair this week have overshadowed the meeting,” as per Trading Economics.
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