MCX Silver Jumps 4% to Rs 2,62,834/kg as Iran Unrest, Weak Dollar, and Strong Industrial Demand Drive Record Rally

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Silver price moved up sharply on Monday and reached its highest level ever on the Multi-Commodity Exchange. The rise came early in the day and showed strong buying interest. MCX silver price jumped by nearly 4% and touched around Rs. 2,62,834 per kilogram. In the last trading session, silver closed near Rs. 2,52,725 per kilogram.

The strong rise in silver rate followed gains in global markets. Silver prices in the international market also moved higher and crossed $83 per ounce. Prices touched a fresh record level during the session. Last week, silver prices had already risen sharply, showing strong momentum.

Global Tensions and Dollar Weakness Boost Silver

The main reason behind the rally is rising tension in Iran. News of protests and unrest has created fear in global markets. Statements from US and Iranian leaders have added to the concern. When such events happen, investors prefer safer options. Silver benefits from this as it is seen as a safe-haven metal.

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Another reason for the rise in MCX silver price is the weak US dollar. The dollar fell as worries around the US economy grew. A weaker dollar makes silver cheaper for buyers outside the US. This increases demand and supports higher prices.

Expectations of lower US interest rates also helped silver prices. Recent data showed slower job growth in the US. This raised hopes that interest rates may come down later in the year. Lower interest rates usually support precious metals like silver.

Strong Industrial Demand Adds Support

Strong industrial demand also pushed the silver rate higher. Silver is used in solar panels, electric vehicles, and electronic items. Demand from these sectors continues to grow. At the same time, global supply remains tight. Lower stock levels have added pressure on prices.

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Experts say some ups and downs may happen in the short term. Profit booking after such a sharp rise can cause small price drops. Changes in the dollar and global data can also affect prices. Even then, experts believe silver prices may stay supported.

From a market view, MCX silver price remains in a strong trend. Important support is seen near Rs. 2,40,000 to Rs. 2,45,000 per kilogram. If prices stay above this level, silver may move toward Rs. 2,60,000 to Rs. 2,70,000 per kilogram in the coming days.

Silver Outlook Remains Positive

Looking ahead, many analysts remain positive on silver rate. Some forecasts say MCX silver price could reach Rs. 3 lakh to Rs. 3.2 lakh per kilogram in 2026. This outlook depends on continued global tension, strong demand, and limited supply.

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However, silver prices can change quickly. Any easing in global tension or a stronger dollar may slow the rise. Even so, silver remains in focus as it works both as an industrial metal and a safe option during uncertain times.