Silver prices continued their upward trend on January 6, reflecting strong momentum in both international and domestic markets. Growing global uncertainty and rising geopolitical tensions have once again pushed investors towards safe-haven assets, benefiting precious metals like silver along with gold.
In the international market, silver prices showed notable strength. At around 9:03 AM (IST), spot silver was trading at $78.74 per ounce. This marks a sharp 2.78 percent increase in a single day, while on a weekly basis, prices have climbed by 2.90 percent.
Market analysts believe that the recent rally in silver prices is largely driven by heightened geopolitical risks. Ongoing tensions involving major global powers, especially after recent military developments between the United States and Venezuela, have increased uncertainty in financial markets. As a result, investors are shifting funds towards safer investment options such as precious metals.
In the domestic market, silver prices also moved higher. On the Multi Commodity Exchange (MCX), silver futures of 999 purity opened at ₹2,50,801 per kilogram on Tuesday. This was about 1.08 percent higher compared to the previous closing price of ₹2,48,205 per kilogram.
It is worth noting that silver had recently touched its all-time high of ₹2,54,174 per kilogram on December 26, 2025. Although current prices are slightly below that peak, the overall trend remains strong, supported by both global cues and domestic demand.
According to data released by the Indian Bullion Jewellers Association (IBJA), silver prices have been rising steadily since the beginning of the new year. On January 5, silver of 999 purity was priced at ₹2,37,063 per kilogram. Earlier, prices stood at ₹2,34,550 on January 2 and ₹2,29,150 on January 1, 2026.
These figures clearly indicate that silver has gained consistent strength in the first week of the year, reinforcing positive sentiment among traders and investors.
As per the weekly report released by Augmont Bullion on January 5, the rally in silver prices is being supported by several global factors. Government decisions affecting global supply chains, rising geopolitical risks, and uncertainty in international relations have played a major role.
The report highlights tensions between Iran and the United States, strained relations between the US and Venezuela, and the ongoing Russia–Ukraine conflict as key reasons behind growing market volatility. In such an environment, silver is increasingly being viewed as a reliable store of value.
Silver prices across major cities showed minimal variation, mainly due to differences in local taxes and jeweller margins. The latest rates for January 6, 2026 are as follows:
Chennai – ₹2,66,100 per kg
Mumbai – ₹2,48,100 per kg
Delhi – ₹2,48,100 per kg
Kolkata – ₹2,48,100 per kg
Bengaluru – ₹2,48,100 per kg
Hyderabad – ₹2,66,100 per kg
Kerala – ₹2,48,100 per kg
Pune – ₹2,48,100 per kg
Ahmedabad – ₹2,48,100 per kg
According to Augmont’s technical analysis, the current rally in silver began around October, when prices were near the $45 level. By December 2025, silver had surged to around $82.7 per ounce.
Looking ahead, experts believe that during 2026, silver could test higher levels of $88.60, $99, and potentially even $107 per ounce, if global uncertainties persist. On the downside, the $64 level is seen as a strong support zone.
