Silver rallies sharply, global and domestic prices climb all-time high; check prices in your city

Silver price today

• Silver surged 4.79 percent on Comex, reaching $83.785 per ounce on January 12
• MCX silver futures rose 3.45% to Rs 2,54,481 per kg
• Geopolitical tensions and US jobs data contributed to silver's price rise

Did our AI summary help?

The price of silver experienced a massive surge once again on January 12. At 1:15 am GMT, the spot price of silver stood at $83.785 per ounce on Comex, and continued to hover at $83.140 (3:03 am GMT), representing a 4.79 percent gain from its previous close.

The domestic futures price of silver on MCX opened the Monday session at an all-time peak performance at Rs 2,63,000 per 1 kilogram of 999 purity, and speedily decined at Rs 2,61,802 (9:30 am IST), representing a gain of 3.59 percent from its previous close at Rs 2,52,725. The price of precious white metal previously peaked at Rs 2,61,341 as recorded on January 7, 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. 9, 2026.

Why is silver up?

The Augmont Bullion report, published on January 8, noted that silver prices have touched their previous peak, creating a double top formation. If prices break the previous top again, the next level to watch for is $84 (Rs 2,66,000) and $88.5 (Rs 2,80,000).

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?

Here are other factors that have contributed to the price rise in precious metals, as per Augmont:

• US job vacancies declined more than expected in November after rising somewhat in October, while a separate ADP report showed that private payrolls climbed less than predicted in December.
• Investors are now turning to Friday's nonfarm payrolls report for clues on the central bank's policy direction, with markets expecting two rate cuts this year.
• On the geopolitical front, Washington announced preparations to take long-term control of Venezuelan petroleum sales, while US officials detained several Venezuela-linked vessels.
• The White House also revealed discussions about seizing Greenland, including possible military involvement.
• The resilient global risk mood has begun to show indications of weakness as a result of escalating geopolitical tensions, which could act as a tailwind for the safe-haven commodity.