Silver Soars to Record Highs: Analysts Predict 18% Further Rise in 2026.

Silver Soars to Record Highs: Analysts Predict 18% Further Rise in 2026

Silver has stormed into record territory, hitting a new all-time high of ₹2,36,350 per kg in India and scaling past the $75-per-ounce mark globally for the first time. This surge was triggered by strong global cues, with prices climbing ₹9,350 in just one day and rallying ₹32,250, or 15.8%, over just four trading sessions since December 19. Spot silver in overseas markets jumped $3.72 to reach $75.63 per ounce, marking a fresh lifetime high. On a yearly basis, silver has surged an astonishing 163.5% from ₹89,700 per kg at the end of 2024, reflecting the metal's remarkable momentum in the current market environment. 

Analysts see even more upside ahead, with projections suggesting silver could rise another 18% from current levels in 2026. This optimism is rooted in silver’s strong industrial demand, which tends to outperform during periods of robust global economic growth. However, this also makes silver more vulnerable during downturns, as industrial demand can sharply decline, leading to greater price swings compared to gold. Ponmudi R, CEO of Enrich Money, highlighted that MCX Silver has extended its sharp advance to ₹2,40,935 per kg, registering a near ₹30,000 rise in just a week, supported by global trends and supply constraints.

Gold, meanwhile, has also seen a significant rally this year, jumping ₹63,350 from ₹78,950 per 10 grams at the start of 2024. Yet, analysts believe silver’s rally is more tenable in the near term, with higher growth potential but also greater volatility. NS Ramaswamy, Head of Commodity & CRM at Ventura, noted that silver’s smaller market size and inelastic supply add to its fundamental strength. He advised investors to consider both metals separately—gold for stability and wealth preservation, and silver for higher growth, albeit with increased risk. Silver’s price swings are typically more dramatic, making it a favorite among traders, while gold moves more steadily, preferred by long-term investors. For balanced portfolios, a mix of both is recommended, with the choice depending on individual risk tolerance, investment horizon, and financial goals. With gold in a 10-year bull run and silver close to a 5½-year rally, the stage is set for silver to continue its strong performance and catch up further.