Silver Futures Surge ₹10,442, Prices Jump To ₹2.77 Lakh Per Kg On MCX

New Delhi: Silver prices rose sharply in futures trade on Tuesday as a weaker US dollar boosted demand for precious metals in global markets. The strong rally helped silver recover after a decline in the previous session.

Analysts said improved global sentiment and expectations of easing geopolitical tensions supported the rise in silver prices.

Sharp Rise In Silver Futures

On the Multi Commodity Exchange (MCX), silver for May delivery jumped by Rs 10,442, or nearly 4 per cent, to Rs 2,77,602 per kilogram. The rise came with a business turnover of 2,300 lots during the session.

The strong increase reflects renewed buying interest from traders and investors in the precious metal.

Market experts said silver prices rebounded after falling in the previous trading session, as the US dollar weakened and demand for metals increased.

Global Markets Support Rally

Silver prices also recorded strong gains in international markets.

In New York, silver futures for the May contract rose by USD 5.07, or about 6 per cent, to trade at USD 89.59 per ounce.

Renisha Chainani, Head of Research at Augmont, said silver rebounded to around USD 90 after briefly slipping below USD 80 in the previous session.

She explained that the recovery was supported by a pullback in the US dollar and improved sentiment in global markets.

Iran Conflict Eases Dollar Demand

According to analysts, expectations that the conflict involving Iran may end sooner than earlier feared also played a role in supporting precious metals.

With reduced demand for the US dollar as a safe-haven asset, investors shifted focus back to commodities such as silver.

US President Donald Trump recently indicated that the military operation in Iran could end faster than expected.

He also suggested possible waivers on oil-related sanctions and said the US Navy may escort oil tankers through the Strait of Hormuz to ensure smooth crude oil supply and avoid major price spikes.

Investors Watch US Inflation Data

Market participants are now focusing on key US inflation indicators, including the Consumer Price Index (CPI) and the Personal Consumption Expenditures (PCE) Price Index.

These indicators are expected to provide important signals about inflation trends and possible future direction of monetary policy.

Price Outlook For Silver

Analysts said silver remains strong after reaching the USD 90 per ounce level.

According to Chainani, the next upside target for silver could be around USD 95 per ounce, which is equal to nearly Rs 2.85 lakh per kilogram in domestic markets.

However, she added that if prices see short-term corrections, they could attract fresh buying from investors looking to enter the market.