On June 6, silver futures reached a record high of Rs 1,06,065 per kg on the MCX, driven by global demand and safe-haven buying amid market uncertainties. After peaking, prices settled at Rs 1,05,849, still showing significant gains. Analysts note that ongoing market instability keeps interest in precious metals strong, with international prices also rising.

Silver futures prices soared to a record high of Rs 1,06,065 per kilogram on the Multi Commodity Exchange (MCX) on Friday, June 6, reflecting robust global trends and significant safe-haven demand. Early trading saw the futures contracts for delivery in July jump to this new high, though later in the day, it dipped slightly to Rs 1,05,849 per kg, up by Rs 1,406 or 1.35 percent, with an open interest of 20,949 lots.

According to market analysts, the ongoing instability in broader financial markets is bolstering interest in precious metals like gold and silver. Rahul Kalantri, the Vice President of Commodities at Mehta Equities Ltd, noted that “silver continued its strong upward momentum,” pointing out that silver prices have also surged to USD 36 per ounce, marking the highest level since February 2012.

Indeed, the global market reflected this trend, with silver trading at USD 36.15 per ounce in New York, up by 1.41 percent. This development underscores investors’ persistent shift toward valuable assets as they seek refuge amid economic uncertainties. As investors monitor these fluctuations, the movement of silver prices could signal broader trends in global commodity markets moving forward.

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