Silver jumps past $90/oz as investors flock to safe-haven assets; prices cross Rs 3 lakh in major cities

Silver price today

• Silver hits all-time high of $90.805/oz on Comex, up 5.17% amid global tensions
• MCX silver futures rise 4.56% to Rs 2,87,735/kg
• Silver overtakes Nvidia in market cap, now second only to gold globally

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The price of silver is trading at its peak performance, driven by geopolitical tensions and industrial demand. The spot price on the Comex stood at an all-time high of $90.805 per ounce as of January 14 (04:19 am GMT), representing a 5.17 percent gain from its previous close.

The domestic futures price of silver on MCX opened the Wednesday session at Rs 2,81,295 per 1 kilogram of 999 purity. It continued its upward trend at Rs 2,87,735, representing a 4.56 percent increase from its previous close at Rs 2,75,187. The price of precious white metal previously peaked at Rs 2,79,528 on the domestic market as recorded on January 13, 2026.

Check out below to see the prices of 1 kilogram of 999 purity silver.

Source: Indian Bullion Jewellers Association – 18:30 rate session as on Jan. 13, 2026.

Why is silver up?

The Augmont Bullion report, published on January 13, noted that silver surged to new all-time highs, as investors rushed toward safe-haven assets. The rally was driven by rising concerns over the independence of the US Federal Reserve, escalating geopolitical tensions, and renewed trade-related uncertainty.

Market sentiment was rattled after the US federal prosecutors reportedly threatened action against Fed Chair Jerome Powell over comments made to Congress regarding a building renovation project. Powell has described the move as a “pretext” aimed at pressuring the central bank to cut interest rates, raising serious concerns about policy independence.

Geopolitical risks continue to mount, with the US stepping up its involvement in Venezuela, President Donald Trump warning of possible military action amid unrest in Iran, ongoing conflict in Ukraine, tensions between China and Japan, and renewed insistence by the White House on acquiring Greenland. Adding to the uncertainty, Trump warned that any country doing business with Iran could face a 25 percent tariff on all the US trade.

The US officials also confirmed that President Trump will be briefed on Tuesday on potential responses to Iran, including sanctions, cyber measures, and military options—keeping global risk sentiment fragile and supportive for precious metals, the report stated.

Read more: Silver races ahead of gold: 7 trends investors should watch in 2026

City-wise silver prices in India today

Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Outlook: Will silver regain momentum this week?

The Augmont report further added that silver’s rally looks set to extend further. Fibonacci projections point toward $88 (Rs 2,78,000) and $93 (Rs 2,93,000) in the coming weeks, while $70 remains a strong support zone.

Meanwhile, silver has overtaken American chip giant Nvidia in terms of market capitalisation to become the world’s second-most valued asset after gold.

The silver rally started from $45 in October and extended up to $82.7 in December 2025. Fibonacci extension suggests that this rally can extend further towards $84, $88, $93 and $99 in the coming few months of 2026 with strong support at $70.

Read more: Silver at record highs: Is the white metal headed for a crash after its steep run-up?