Silver price today: Silver rates hit new high in Delhi; rise to Rs 2.41 lakh per kg

Silver rate today: Silver prices climbed by Rs 1,000 to Rs 2.41 lakh per kilogram in the national capital on Tuesday, hitting a new all-time high with positive global sentiment and robust demand supporting prices, All India Sarafa Association date was quoted by PTI. The demand has been underscored by silver's growing appeal as an industrial and investment asset amid tight global supply.Gold prices, however, weakened for a second consecutive session. 99.9 per cent pure gold fell by Rs 2,800, reaching Rs 1,39,000 per 10 grams (inclusive of all taxes), falling from Rs 1,41,800 per 10 grams in the previous session despite international gold prices moving higher.Global markets played a major role in providing a strong tailwind for silver. Spot silver jumped $3.72, or 5.15 per cent, to $75.85 per ounce, while spot gold gained $69.61, or 1.61 per cent, to $4,401.59 per ounce. Market participants attributed silver’s sharper rise to sustained industrial offtake, particularly as a result of solar, electronics and data centre sectors.On the domestic derivatives front, silver futures on the Multi Commodity Exchange (MCX) for March 2026 delivery rallied sharply, rising Rs 9,590, or 4.27 per cent, to Rs 2,34,019 per kilogram, with a turnover of 11,915 lots. The metal has witnessed heightened volatility in recent sessions, reflecting aggressive positioning by traders.Analysts remain constructive on silver’s medium-term outlook despite near-term swings. Silver continues to find support from structural supply constraints and strong industrial demand. However, stricter margin norms could limit sharp upside in the short term,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities. He added that MCX Silver March contracts could move towards ₹2.26 lakh per kg as global undertones remain bullish.Notably, silver had already staged a sharp rally on Monday, skyrocketing Rs 14,387, or 6 per cent, to hit a record high of Rs 2,54,174 per kilogram on the MCX, highlighting the intensity of the ongoing uptrend in the white metal.