Silver Price Today (27th Jan 2026) Highlights: The precious metal space is seeing hectic activity – Silver, along with gold, is scaling new highs. Silver has risen from $30 in January 2025 to $111 in January 2026, that’s a 270% increase in one year. In 2026 so far, it has risen 50% already.
What’s driving the rally in silver
The parabolic rise in silver is driven by several reasons, the primary among them being a supply constraint. For the 5th consecutive year, the demand is exceeding supply, leading to higher prices for silver.
Rush for physical silver boosts demand
The rush for silver, used in several industries, came in from different fronts. The US added silver to its list of critical minerals, adding to fresh demand for the precious metal. China is a leading user and producer of silver. Starting in January, China has banned the export of silver by Chinese firms, leading to a global supply crunch.
But it was the rush for physical silver that boosted the demand, thus leading to the sharp price spike seen during the last 12 months.
As per data available on MCX spot silver was trading at Rs 3,45,375 per kg as of 5:36 pm on January 27.
On MCX, the most-active March contract of silver closed at Rs 3,61,500 per kg, up 8% from its previous close of Rs 3,34,699 per kg. The contract at opened at Rs 3,39,824 and had touched a lifetime high of Rs 3,64,821 per kg.
Throughout the day, silver extended gains owing to heightened geopolitical tensions, which had accelerated the safe-haven demand for the white metal.
Read More: Silver Rate Today in India
Silver Rate Today in India Live Updates: Why silver is 17% cheaper in India than in China
Silver prices are soaring to fresh all-time highs. In India, the silver rate for January 25 was Rs 3,35 per 1 gram. With this, price of silver in India appears to be cheaper by 17% than the price in China. Here is the explanation:
- 1 ounce is equal to approx 28.3 grams, which means, in India, 1 ounce of silver ( 28.3 grams) costs approximately Rs 9,984.
- In China, 1 ounce trades at around $125, which at an exchange rate of Rs 91.6 to a dollar, is equal to approx. Rs 11,450.
- The difference between the price of one ounce of silver in India and China is approx. Rs 1,969, a differential of about 17%.
Read More: Why is silver 17% cheaper in India compared to China?
Silver Rate Today in India Live Updates: Silver repeating history, may near $130
Research Analyst, Brijesh Bhatia says that silver is flashing a 1980s warning. After the end of the Vietnam War as the US Dollar floated freely, investors moved towards more real assets like silver, as it was cheaper and easier to find.
By 1979, silver had shot up to almost $48, marking a whooping 1,188% rally. While the US economy improved and Fed raised its interest rates, silver became quiet.
Then, between 2001 and 2011, the price of the metal went up to about $49.83, a rally of 1,100%, which was also on the back of the financial crisis of 2008.
Bhatia expects with the current trend silver could be worth between $125 and $130. He adds that this is not just a guess. It’s the history repeating as per technical analysis.
Read more: Silver is flashing a 1980s warning: Is a $125 rally or a 72% crash coming next?
So far in January silver has gained nearly 18%, as safe-haven demand continues to accelerate momentum for the white metal.
With renewed threats of trump tariffs, markets will eye the upcoming US Federal Reserve meeting which will provided a clearer trajectory for the prices of the white metal. While no rate cut is expected in the Fed's upcoming meeting, markets have high expectations of additional rate cuts by the Fed for 2026.
Silver prices saw a sharp jump in today’s trade, with MCX silver crossing the Rs 3.6 lakh per kg mark. The contract opened higher at Rs 3,39,824 per kg, compared with the previous close of Rs 3,34,699.
As trading progressed, silver touched a new lifetime high of Rs 3,64,820 per kg. At the latest levels, MCX silver was trading at Rs 3,63,613 per kg or 8.64%.
To know the city wise rate for silver,
Silver Rate Today in India Live Updates: Is Silver topping out?
Heraeus analysts note that silver's significant outperformance compared to gold over the past nine months indicates potential near-term topping of the rally, reports Kitco.
“Historically, silver has outperformed gold in the closing stages of price rallies,” they said. “The gold:silver ratio has fallen from 105 in April 2025 to a low of 49 last week, the lowest level since 2013, even as the gold price continued to hit record highs. The gold:silver ratio has been lower than today several times in the past, but has rarely seen such a large swing in such a short time," reads the Heraeus analysts note.
Source: macrotrends.net; As of Jan.27,2026
Silver prices have surged well past the $111/oz mark. The key precious metal as well as an important industrial metal has been surging on safe haven demand. According to experts, the rush for physical silver also led to an escalation in silver rates. In fact, Comex Silver hit $117, as US threats to hike tariff on South Korea exacerbated investor apprehension.
On MCX, silver is trading over its key moving averages i.e. 20-day, 50-day and 100-day. Many market observers and commodity experts believe that though momentum is strong, these levels are also technical warning signs.
Also read: Silver tops $100, Gold above $5,000: What are the fresh triggers leading the rally?