Silver prices reached an all-time high on the Multi Commodity Exchange (MCX), hitting Rs 3 lakh per kg due to strong safe-haven demand amidst global uncertainties. The rally in silver coincided with fresh record highs in gold futures on MCX for March 2026 expiry. Analysts noted that silver had support at Rs 2,85,810 and 2,82,170, with resistance levels at Rs 2,94,810 and 2,96,470.
Gold prices also saw a significant increase, with the futures contract for February 2026 on MCX opening at Rs 1,43,321 per 10 grams and reaching an intra-day high of Rs 1,45,500 per 10 grams. Despite a slight cooling off later, gold continued to trade at elevated levels, displaying resilience post-profit-taking. In the international market, COMEX gold prices found immediate support near $4,620 per ounce, with analysts eyeing potential targets at $4,730 and $4,780 per ounce if momentum persists.
MCX gold received support around Rs 1,42,000 and Rs 1,40,000 per 10 grams, facing resistance near Rs 1,48,000 per 10 grams. Experts suggested that a clear break above this level could propel prices towards the psychological mark of Rs 1.50 lakh per 10 grams in the near future.
