Silver prices hit all-time high in India

Silver prices touched an all-time high on Friday (July 11). On the Multi Commodity Exchange (MCX), silver crossed ₹1.10 lakh per kilogram. In the spot market, silver trades at ₹109.90 per gram, or ₹1,09,900 per kilogram, as per Goodreturns data.

Fresh buying by traders pushed prices up in futures trade.

Globally, spot silver gained 0.4% to $37.17 per ounce, as per Reuters report.
Rahul Kalantri, VP Commodities at Mehta Equities, said, “Investors are seeking safety amid fresh tariff threats and policy risks from the US President’s steep import tariffs and calls for deep rate cuts are stoking inflation fears.”
Silver prices in India mostly track international rates. They also depend on the rupee-dollar exchange rate. If the rupee weakens against the dollar and global prices stay flat, silver gets costlier for Indian buyers.

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Interest rates and inflation trends also influence silver. Usually, silver and gold prices move in the same direction. Higher inflation and low interest rates often support precious metal prices.

Aksha Kamboj, Vice President, India Bullion and Jewellers Association, said, “Trade tensions and new tariff threats have unsettled risk assets. Some investors are moving to safe-haven assets like gold and silver.”

On MCX, silver has support at ₹1,08,480 per kg and resistance at ₹1,10,700 per kg, as per Kalantri. Spot traders see further upside if global prices stay firm and the rupee weakens more.

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