Silver prices have witnessed a strong upward movement at the start of the new year, grabbing the attention of investors and bullion market watchers alike. On January 5, silver recorded a significant jump in both international and domestic markets, reflecting rising demand for precious metals amid increasing global uncertainty.
According to early morning data at 7:42 AM IST, silver spot prices in the international market stood at $75.34 per ounce. This marked a sharp 3.69 percent increase in a single day and a 4.19 percent rise over the past week. Market experts attribute this sudden surge to heightened geopolitical tensions following recent military developments involving the United States and Venezuela.
As uncertainty grows across global financial markets, investors are increasingly turning towards safe-haven assets. Traditionally, gold leads this trend, but silver has also emerged as a strong alternative due to its dual role as an investment metal and an industrial commodity.
In the Indian market, silver futures on the Multi Commodity Exchange (MCX) opened sharply higher on Monday. Contracts for 999 purity silver began trading at ₹2,46,198 per kilogram, registering a gain of over 4.18 percent compared to the previous closing price of ₹2,36,316 per kg.
Notably, silver had already touched an all-time high of ₹2,54,174 per kg on December 29, 2025, highlighting the strength of the ongoing rally.
Data released by the Indian Bullion Jewellers Association (IBJA) further confirms the strong upward trend. As per the evening rates on January 2, 2026:
Silver (999 purity) was priced at ₹2,34,550 per kg
On January 1, 2026, the rate stood at ₹2,29,150 per kg
This steady rise clearly indicates sustained buying interest since the beginning of the year.
Market analysts point out that silver’s journey from around $29.30 per ounce in January 2025 to nearly $71 by December 2025 reflects a massive 170 percent rise, making it one of the strongest rallies in silver’s historical performance. The additional gains seen in early 2026 suggest that investor confidence remains intact.
Silver prices across major Indian cities showed minimal variation on January 5:
₹2,40,900 per kg in Delhi, Mumbai, Kolkata, Bengaluru, Pune, Vadodara, and Ahmedabad
₹2,56,900 per kg in Chennai, Hyderabad, and parts of Kerala
Experts believe that prices could strengthen further if geopolitical tensions persist.
Despite the strong rally, analysts caution that silver remains a volatile asset in the short term. While long-term fundamentals appear positive, short-term fluctuations are likely. Investors are advised to assess their risk appetite carefully and avoid impulsive decisions during periods of sharp volatility.
