New Delhi: Silver prices have continued their remarkable rally, rising another 22 per cent in January so far, strengthening investor interest and keeping the white metal firmly in focus.  

The sharp surge has helped silver emerge as the top performer among major asset classes, supported by strong demand and multiple positive global factors.

After an extraordinary 170 per cent rise earlier, MCX silver prices have maintained strong momentum this month.

From the April close of Rs 95,917, silver has climbed nearly 200 per cent to settle at Rs 2,87,762 on Friday, a performance usually associated with multibagger stocks rather than commodities.

Prices have also touched fresh record highs, with the latest peak of Rs 2,92,960 recorded last week.

As silver surged past earlier expectations much faster than anticipated, analysts have been quick to revise their targets upward.

Last year, domestic brokerages had projected silver prices at around Rs 1,10,000 by the end of the year, but those levels were crossed well before the midpoint.

The rally did not stop there, with prices going on to hit Rs 2,54,000, more than doubling earlier estimates.

As these above-ground reserves shrink, holders of physical silver are demanding higher prices, further pushing rates upward.

At the beginning of 2025, silver was largely overlooked by investors, with few expecting it to deliver such a sharp rally amid ongoing economic uncertainty and geopolitical tensions.

Adding to the bullish sentiment is a shift in global central bank behaviour. After accumulating significant quantities of gold over the past three years, central banks are now reported to be adding silver to their reserves as well.

This trend has provided additional support to prices, keeping MCX silver close to the Rs 3 lakh level.

With the latest close of Rs 2,87,762, silver is now just about 4.2 per cent away from crossing the Rs 3 lakh milestone.

New Delhi: The combined market valuation of three of India’s top companies surged by Rs 75,855.43 crore last week, even as the overall stock market showed a sluggish trend during the holiday-shortened week.  

State Bank of India (SBI) and Infosys were the biggest gainers among the top firms. While the Sensex slipped 5.89 points, the Nifty inched up by 11.05 points over the week.

Commenting on Nifty technical outlook, an expert said that “immediate resistance is placed at 25,875, followed by 26,000 and 26,100 levels. On the downside, support is seen at 25,600 and 25,450.”

“A breakdown below 25,300 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised,” an analyst stated.

Among the top companies, ICICI Bank, SBI, and Infosys recorded gains, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro faced a combined erosion of Rs 75,549.89 crore in their market value.

Interestingly, the total loss of these seven companies was still slightly less than the total m-cap addition of the three gainers.

SBI emerged as the biggest gainer, with its market valuation jumping by Rs 39,045.51 crore to reach Rs 9,62,107.27 crore.

Infosys also saw a strong increase, with its m-cap rising by Rs 31,014.59 crore to Rs 7,01,889.59 crore.

ICICI Bank added Rs 5,795.33 crore, taking its market value to Rs 10,09,470.28 crore.

On the other hand, Larsen & Toubro’s market valuation fell by Rs 23,501.8 crore to Rs 5,30,410.23 crore, while HDFC Bank’s valuation dropped by Rs 11,615.35 crore to Rs 14,32,534.91 crore.

Bharti Airtel’s m-cap declined by Rs 6,443.38 crore to Rs 11,49,544.43 crore, Bajaj Finance saw a dip of Rs 6,253.59 crore to Rs 5,91,447.16 crore, Hindustan Unilever lost Rs 3,312.93 crore to stand at Rs 5,54,421.30 crore, and TCS’s valuation slipped by Rs 470.36 crore to Rs 11,60,212.12 crore.

After these movements, HDFC Bank remained the second most valued domestic company, followed by TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro.

Last Updated:January 18, 2026, 14:54 IST

Gold and silver hit new records in 2025, with silver crossing 90 dollars per ounce. Experts highlight silver’s industrial demand and gold’s role as a hedge.

Gold and Silver outlook this week

Gold and Silver Prices Outlook: Gold and silver prices saw a marginal dip after a record-breaking rally. Continuing the upward momentum of 2025, gold and silver made new records with silver crossing $90 per ounce-mark for the first time in history. Meanwhile, gold hovered in the range of $4,596-$5,600 per ounce.

COMEX Silver has seen a relatively sharper correction to the $89–$90 region after peaking above $93.7, reflecting short-term profit-booking following an extended rally.

In India, gold futures with expiry on February 05, 2026, stood at Rs 1,42,474 per 10 grams as on January 16, 2026. Silver futures with expiry in March were at Rs 2,87,701 per kg.

The tussle between European Union and the United States of American will be watched closely across the world this week. Trump administration has put fresh tariffs on the European Union following his demand to acquire Greenland, an autonomous region under Denmark, prompting the EU to halt the trade deal with the US with immediate effect.

“The 0 per cent tariffs on US products must be put on hold,” Weber said in a post on X, citing concerns over Washington’s latest actions.

European Commission President Ursula von der Leyen warned that the new tariffs risk damaging transatlantic ties.

“Tariffs undermine transatlantic relations and risk a dangerous downward spiral,” she said, stressing that Europe would uphold its sovereignty and remain united.

Gold, Silver Outlook

The long-term appeal of silver and gold will remain. Chronic supply shortages, especially in silver, sustained central bank gold purchases, accelerating demand from green energy, EVs, AI, and electronics, and ongoing macro and geopolitical uncertainties continue to support the long-term bullish narrative, said Ponmudi R, CEO – Enrich Money.

While near-term volatility may persist due to profit-taking, dollar movements, and key U.S. macro data, any corrective phases are expected to remain shallow and attract buying interest, added Ponmudi R.

“Silver continues to offer relative outperformance potential due to its higher industrial leverage, while gold remains a reliable hedge against macro and geo-political uncertainty,” he said.

Prasenjit Paul, Equity Research Analyst & Fund Manager at 129 Wealth Fund said one of the biggest mistakes investors can make is treating gold, silver, and debt as one broad “defensive” allocation.

“Doing so masks overlapping risks and can lead to a situation where supposedly safe assets decline at the same time as equities,” he said.

For gold he added that it should be viewed purely as catastrophe insurance—largely independent of the business cycle and the most reliable hedge against systemic stress.

Adding for silver, Paul said, Silver does not belong in the defensive category at all. Its demand is heavily linked to industrial activity, particularly in areas like solar energy and electric vehicles.

“As a result, silver behaves more like a cyclical asset and should be treated as a tactical satellite allocation,” Paul added.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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