Silver Hits Rs 2,49,900/kg on MCX as Bullish Technical Levels Hold Firm Above Rs 2,42,000 Support

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Silver price moved sharply higher today and surprised many market participants. MCX silver jumped by Rs. 13,500 in a single session. The price touched an intraday high of Rs. 2,49,900 per kg. This rally came even as global markets remained tense due to the US-Venezuela conflict.

The sharp rise in MCX silver followed strong global signals. In international markets, silver opened with a clear upside gap. Prices climbed to an intraday peak of $75.968 per ounce. This marked a near 6% jump from the previous close. Such a strong global move quickly lifted domestic silver prices as well.

Geopolitical Tensions Lift Safe-Haven Demand


The main trigger behind the silver price surge was rising geopolitical risk. Over the weekend, the United States attacked Venezuela. The incident created fresh uncertainty across global markets. Precious metals often gain when fear rises. Silver benefited from this shift toward safe assets.

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Market experts also pointed to supply concerns. Traders started pricing in possible disruptions to silver shipments. Peru and Chad remain among the world’s largest silver exporters. Any disruption from these regions can tighten global supply. This fear supported higher silver prices across exchanges.

Technical Levels Support Bullish Momentum


Ponmudi R, CEO of Enrich Money, said MCX silver is trading near Rs. 2,45,275 after recent swings. He noted that silver continues to move in a bullish channel. Buyers step in on every dip. A steady move above Rs. 2,42,000 strengthens the positive trend. Such a move may push prices toward Rs. 2,46,000 and even Rs. 2,55,000 in the near term.

The technical picture also looks supportive. Strong support lies between Rs. 2,42,000 and Rs. 2,40,000 on MCX. As long as silver holds above this zone, the upside bias stays intact. On the global front, COMEX silver trades well above its 20-day average near $67.80. This signals strength in the broader trend.

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Volatility Risks and Long-Term Outlook


However, not all experts remain fully bullish at current levels. Amit Goel of Pace 360 warned about rising volatility. He expects exchanges to raise margin requirements again. Similar steps already took place last week when margin money increased sharply due to fast price gains. Such actions often lead to profit booking.

Goel believes silver may now move in both directions. Short-term traders may book profits at higher levels. Sudden price swings may continue in the coming sessions. This makes timing very important for fresh silver investment decisions.

Longer-term views remain constructive. Demand from electric vehicles, solar panels, and electronics continues to grow. These sectors use large amounts of silver. This structural demand supports prices over time, even if short-term corrections appear.

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Overall, silver price strength shows fear, supply worries, and solid industrial demand. The rally looks powerful but volatile. Extreme moves often cool off before resuming trends. Careful positioning and gradual exposure may help manage risk in the current commodity market environment.

Disclaimer: This news is for educational purposes only. Investment decisions should be made after following professional financial advice.