Silver prices: MCX futures jump Rs 12,800 today; what’s ahead?

MCX silver futures for March 5 delivery surged Rs 12,803 per kg in Wednesday’s trade, hitting a high of Rs 2,87,990 per kg. At 11.46 am, the precious metal was trading Rs 10,387, or 3.77 per cent, higher at Rs 2,85,574 per kg. Analysts said silver is emerging as one of the most compelling strategic metals in the current cycle, sitting at the intersection of investment demand and industrial transformation. 

In India, said Rajkumar Subramanian, Head of Products and Family Offices at PL Wealth Management, this dual character is even more pronounced. “Beyond its traditional role as a store of value, silver is increasingly driven by structural demand from solar energy, electronics, electric mobility and advanced manufacturing. As India accelerates its renewable and infrastructure ambitions, silver’s industrial relevance strengthens its long-term price support. At the same time, rising retail participation and growing interest from HNI and family capital are positioning silver as a portfolio diversifier alongside gold,” he said. 

Vandana Bharti, Head of Commodity Research at SMC Global Securities said silver prices have crossed $89 per ounce in the international market and may soon target the $100-mark. In an interview to Business Today, Bharti said the premium for silver may go up, with rising deficit in physical delivery. She advised traders to go in for fresh buying in the Rs 2.7-2.65 lakh range. She said traders should consider only intraday trading for now. 

Subramanian advised investors to remain mindful that silver is inherently more volatile than gold, with sharper price swings driven by global growth expectations, dollar movements and speculative flows. 

“It is best approached with disciplined allocation and a medium- to long-term perspective,” Subramanian said.