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Silver hits record high of ₹3.5L/kg: What's driving surge?
27 Jan 2026

Silver prices have hit a record high of ₹3,54,780 per kg today, jumping by 6%. The spike is being attributed to a weaker US dollar and rising geopolitical tensions.

Gold prices also witnessed a jump of 2.5% to ₹1,59,820 per 10g amid strong demand for safe-haven assets.

The rally was seen across both domestic and international markets, highlighting the increasing demand for precious metals in times of global instability.

International gold and silver prices remain high
Global trends

In the global market, gold prices remained high after breaking through a key psychological level in the previous session.

Spot gold rose 1% to $5,065.07 per ounce after hitting a record $5,110.50 yesterday.

The US gold futures for February delivery fell by 0.4% to $5,059.90 per ounce amid profit-taking at record levels.

Meanwhile, spot silver jumped 5.2% to $109.22 per ounce as it neared all-time highs after hitting a record $117.69 on Monday.

Factors driving the surge in precious metal prices
Market drivers

The surge in silver and gold prices is attributed to a combination of a weaker US dollar, rising geopolitical tensions, and renewed concerns over the independence of the US Federal Reserve.

These factors have made hard assets like gold and silver more attractive.

Global developments such as US President Donald Trump's decision to raise tariffs on South Korean imports have also fueled uncertainty around global trade, prompting investors to seek shelter in perceived stores of value.

Precious metals outperform Indian equities
Investment strategy

According to PL Capital, precious metals have outperformed Indian equities significantly, proving their worth as effective portfolio stabilizers during equity consolidation phases.

Gold and silver have benefited from sustained central bank demand, the currency volatility, and persistent geopolitical uncertainty.

Siddharth Vora of PL Asset Management said markets are now driven more by asset allocation choices than broad-based equity rallies.