Mumbai– Silver futures on the Multi Commodity Exchange (MCX) soared to a new all-time high of ₹1,09,250 per kilogram on Tuesday, as heightened tensions between Israel and Iran pushed investors toward safe-haven assets.
The July 2025 silver contract surged 2.5 percent, gaining ₹2,686 from Monday’s close of ₹1,06,564 per kilogram. By evening, silver futures were trading 2.23 percent higher at ₹1,08,945 per kilogram, according to official MCX data.
This sharp uptick in silver prices reflects growing uncertainty in global financial markets. As geopolitical risks rise, investors typically shift away from high-risk assets like equities and turn to traditionally safer options such as gold, silver, and government bonds.
Gold prices also edged up during Tuesday’s trading session. The August 5, 2025 gold contract rose slightly by 0.02 percent to ₹99,202 per 10 grams, compared to Monday’s settlement of ₹99,178.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold dropped ₹226 to ₹99,147 per 10 grams, down from ₹99,373. Likewise, 22-carat gold fell to ₹90,819 from ₹91,026, and 18-carat gold declined from ₹74,530 to ₹74,360 per 10 grams.
Analysts attribute the strength in precious metals to a mix of global uncertainty and anticipation over the U.S. Federal Reserve’s next move on interest rates.
“With the current macro setup—geopolitical strife, currency volatility, and potential central bank pivoting—silver’s appeal as a hedge is increasing,” said Apurva Sheth, Head of Market Perspectives at SAMCO Securities. “Both retail and institutional interest are growing, and technically, the setup is textbook bullish.”
Globally, however, gold and silver were trading in opposite directions. On COMEX, gold was down 0.40 percent at $3,404.67 per ounce, while silver rose 1.65 percent to $37.06 per ounce.
Since the start of the year, 24-carat gold has climbed ₹22,985—or 30.17 percent—from ₹76,162 to ₹99,147 per 10 grams. Silver has risen ₹19,543—or 26.83 percent—going from ₹86,017 to ₹1,09,100 per kilogram.
Analysts say the strong upward momentum in both metals underscores investor concern about global instability, especially the ongoing conflict in the Middle East. As long as geopolitical tensions persist, demand for safe-haven assets like gold and silver is expected to remain robust. (Source: IANS)
