Silver Prices Hit Record Highs Worldwide

Silver has become the best-performing metal in the bullion market, hitting new record highs in both global and Indian markets. On COMEX, silver rose to an all-time high of $79.70 per ounce for the March 2026 contract. This is almost 190 per cent higher than its 52-week low of $27.55 per ounce. In India, silver prices on the Multi Commodity Exchange (MCX) also touched a fresh record of ₹2,39,397 per kg on Friday.

Silver is heading towards its strongest yearly performance since 1979. The rally is supported by a strong rise in the overall precious metals market. Continuous buying by central banks and steady investments through exchange-traded funds (ETFs) have improved investor confidence. At the same time, strong industrial demand has added to silver’s price strength. Silver is widely used in electronics, solar energy equipment and medical products, making it an important metal for global industries.

Experts say the current rise is due to a long-term change in demand and supply. Unlike earlier price jumps, this rally is being driven by both strong investment demand and increasing industrial use. This has reduced available supplies and pushed prices into a new range. Some analysts believe silver prices could move closer to $100 per ounce in the near future.

Silver has now become the top performer among precious metals, gaining from gold’s strength and its growing role in industry. Aksha Kamboj, Vice President of the India Bullion & Jewellers Association, said silver has stayed firmly above the ₹2 lakh level because of strong upward momentum. She added that demand from clean energy, manufacturing and technology sectors is supporting prices, even as volatility increases.

Supporting this positive outlook, Tarun Satsangi, Director at Armany, said silver is seeing its strongest rally since 1979. He pointed to a growing global supply shortage, estimated at around 200 million ounces in 2025 and likely to rise to 280–300 million ounces in 2026. This would be the sixth straight year of supply deficits, mainly due to rising use in solar panels, electric vehicles and power infrastructure.