Silver price today in India climbed to ₹3,01,315 per kg on MCX as of 19 January 2026, gaining 4.71%. The prices on MCX touched a record, while COMEX silver stayed elevated, which keeps precious metals in focus alongside rising gold rates.
An investor watching these levels might feel torn. As the rally looks strong, and the headlines scream momentum, comparisons with the Hunt Brothers era raise an uncomfortable thought: How long can silver keep running before volatility hits?
Here’s a breakdown of the silver price today across markets, the gold-silver ratio, and where risks may start building.
Silver Price Today
The rates of precious metals went on a strong run on Monday, 19 January 2026, as investors moved money into safe-haven assets. The trade tensions between the US and Europe pushed demand higher, and prices reacted fast.
Silver prices are at ₹3,05,000 as of 19 January 2026, with a gain of ₹10,000. The silver futures, with March 2026 maturity, opened in the green and reached ₹3,01,315 per kg on the MCX. That’s a jump of ₹13,553, nearly 4.71%, in one go. It last traded at around ₹3,00,429 per kg, up about 4.4%.
Here’s a city-wise breakdown of silver prices:
| City | 10 grams | 100 grams | 1 Kg |
| Chennai | ₹3,180 | ₹31,800 | ₹3,18,000 |
| Mumbai | ₹3,050 | ₹30,500 | ₹3,05,000 |
| Delhi | ₹3,050 | ₹30,500 | ₹3,05,000 |
| Kolkata | ₹3,050 | ₹30,500 | ₹3,05,000 |
| Bangalore | ₹3,050 | ₹30,500 | ₹3,05,000 |
| Hyderabad | ₹3,180 | ₹31,800 | ₹3,18,000 |
| Kerala | ₹3,180 | ₹31,800 | ₹3,18,000 |
| Pune | ₹3,050 | ₹30,500 | ₹3,05,000 |
| Vadodara | ₹3,050 | ₹30,500 | ₹3,05,000 |
Why are Silver Prices Rising?
Here’s why the silver prices are rising in India, as well as globally:
- Safe-haven demand has kicked in: The rising geopolitical tensions and trade concerns are pushing investors into safer assets such as silver.
- Global trade tensions: The friction between major economies has increased uncertainty, pushing investors’ activity towards silver.
- Structural supply deficit: Silver supply has struggled to maintain pace with demand because mine output and recycling are unable to close the gap.
- Rising industrial demand from green technologies: The high use of silver in solar panels, electric vehicles, and energy storage continues to lift long-term demand.
Silver vs Gold: What the Gold-Silver Ratio Is Signalling?
The gold-silver ratio shows how much silver, by value, is required to match gold. As of 19 January 2026, the gold-silver ratio has slipped below 52, which is much lower than normal. Generally, a level of 80 is seen as balanced, so moving closer to 50 suggests silver has already moved a lot compared to gold.
When the ratio falls like this, silver tends to outperform gold. That trend is already visible now. The gold prices have slowed and are moving in a range, while silver has been more active and volatile.
However, historically, such sharp silver rallies didn’t last forever. Gold usually peaks first, and silver follows after a short lag. Currently, some momentum is still left in silver, and the market is now watching whether prices can move towards ₹3.2–3.3 lakh per kg, which is around $100 per ounce, or if the recent moves are just brief rebounds before the rally cools.
What Investors Should Watch?
The investor must keep track of these levels:
- Key price levels: The MCX support level is near ₹2.8–2.85 lakh per kg, holding above this keeps the trend intact, and a break could invite sharper selling.
- Gold-silver ratio: A sustained gold-silver ratio below 52 favours silver. However, a reversal higher may signal that silver’s outperformance is slowing down.
- Global signals and dollar movement: The Fed signals, US dollar strength, and global risk sentiment can quickly change silver’s direction.
- Exchange actions: Any increase in margin requirements could raise volatility and trigger short-term corrections.
Bottom Line
Currently, silver is sitting near record highs, supported by global tensions, limited supply, and industrial demand. The uptrend is still in place, but prices are overheated. From here, moves will hinge on global developments, the dollar’s direction, and whether buying interest holds at these levels.
FAQ‘s
Silver prices are rising due to global trade tensions, safe-haven buying, a supply-demand gap, and strong industrial use in solar and electric vehicles. A weaker dollar and rate cut expectations have also made silver more attractive.
Yes, the silver price today touched record levels near ₹3,01,315 per kg on MCX as of 19 January 2026, marking one of the strongest single-day moves in recent years.
The current gold-silver ratio is below 52, which shows silver is outperforming gold. Historically, such low levels suggest silver has already moved sharply and may face higher volatility going ahead.
Silver still has momentum, and some market participants are watching the ₹3.2–3.3 lakh per kg zone closely. However, sustaining those levels will depend on global trends and investor risk appetite.
The risks for investors investing in silver include profit booking at high levels, a stronger US dollar, changes in Fed outlook, and higher margin requirements by exchanges, all of which can trigger sudden price swings.
