Silver Price Hits Record High on Comex, Indian Market Sees Decline
Business
M
Moneycontrol•23-01-2026, 08:38
Silver Price Hits Record High on Comex, Indian Market Sees Decline
- •Silver reached an all-time high of $98.98/oz on Comex on January 23, driven by industrial demand and geopolitical tensions.
- •The Indian Bullion Jewellers Association (IBJA) reported a 6.08% decline in silver price to Rs 2,99,711 per kilogram on January 22.
- •On MCX, silver closed at Rs 3,26,500 per kilogram, a 2.51% gain, but had hit a record high of Rs 3,35,521 on January 21.
- •Profit booking and a 'Davos De-escalation' (withdrawal of tariff threats, new NATO framework) led to an 8% drop from its peak.
- •Experts advise against buying silver currently, suggesting waiting for prices to stabilize over support levels.
Why It Matters: Global silver prices surged to a record high, but profit booking and geopolitical de-escalation caused a decline.
✦
More like this
Loading more articles...
