Silver breaches ₹3 lakh/kg mark for 1st time:MCX silver futures rates for March delivery sets new record

Silver prices have breached the ₹3 lakh per kg mark for the first time ever in futures trade on the Multi-Commodity Exchange (MCX) on Monday, January 19, 2026. This rate has been recorded for the futures contract of the white metal having an expiry of March 05, 2026. In the last 30 days, the prices of the gold’s first cousin have shot up over ₹90,000 in last 30 days. Spot market prices still below ₹3 lakh per kg mark: The white metal’s historic rates have been recorded only on futures contracts not in the spot market where it continues to trade below the ₹3 lakh per kg mark. On the MCX, silver futures for March delivery skyrocketed by ₹13,553, or 4.71%, to hit a record of ₹3,01,315 per kilogram. In the international market, the March silver futures contract jumped by $5.81, or 6.56%, to hit a record of $94.35 per ounce. Gold became 75% and silver 167% more expensive in 2025 Last year i.e. 2025, gold price increased by ₹57,033 (75%). On December 31, 2024, 10 grams of 24 carat gold was ₹76,162, which became ₹1,33,195 on December 31, 2025. Silver prices also increased by ₹1,44,403 (167%) during this period. On December 31, 2024, one kg of silver was priced at ₹86,017, which became ₹2,30,420 per kg on the last day of this year. Not only in futures and spot market, the silver ETFs and MFs have also given strong returns in the past. Silver ETFs’ Return In 2025 Silver MFs’ Return In 2025 3 Main Reasons for Silver Rally Industrial Demand – Heavy use in solar, electronics and EV, silver is no longer just jewellery, has become essential raw material. Trump’s Tariff Fear – American companies are stockpiling silver, prices rise due to global supply shortage. Manufacturers in Race – Everyone is buying in advance due to fear of production stoppage, this will keep the momentum going in coming months.