Silver rate today: White metal opened flat on Wednesday, January 7, surged marginally higher to continue its record run amid ongoing geopolitical tension between US and Venezuela.
Silver prices started the session downwards at ₹2,57,599 per kg levels on Wednesday. The white metal touched an intraday low of ₹2,57,001 per kg on January 7.
Silver prices have been trending higher amid escalating tensions between the US and Venezuela. On the MCX, silver hit a fresh record on Tuesday, surging to an intraday high of ₹2,59,322 per kg before settling slightly lower at ₹2,58,000 per kg.
Continuing the rally, COMEX silver opened on Wednesday with a gap-up and quickly scaled a new all-time high of $82.548 per ounce within minutes of the opening bell.
“The ongoing up-move in gold and silver is being driven by structural demand rather than short-term speculative activity. Sustained central-bank gold purchases, elevated geopolitical uncertainty, and expectations of global monetary easing continue to reinforce gold’s role as a core portfolio hedge. Silver adds an additional layer of support through robust industrial demand, led by solar energy, electric vehicles, AI infrastructure, and broader electrification themes, resulting in persistent supply tightness,” said Ponmudi R, CEO of Enrich Money.
(This is a developing story)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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