Silver Rate Today Hits Record High at Rs 270K; Prices Surge Rs 10,000/Kg on Jan 12; MCX Futures Jump Nearly 4%

Silver prices in India began the week on a strong note on January 12, 2026, registering a sharp rally across denominations. The silver rate today stands at Rs 2,700 per 10 grams and Rs 2,70,000 per kg. The metal witnessed a steep jump of Rs 10,000 per kg compared to the previous session, pushing silver to a record high level of Rs 2,70,000 per kg, the highest ever in the domestic market.

Silver Rate in India Today: Check Latest Silver Prices Per Kg and Gm on January 12, 2026

At the retail level, the price of silver per gram today stands at Rs 270, up from Rs 260 yesterday, registering a rise of Rs 10 per gram. For small investors and jewellery buyers, 8 grams of silver on January 12, 2026 is priced at Rs 2,160, compared with Rs 2,080 in the previous session, showing an increase of Rs 80. Similarly, 10 grams of silver now costs Rs 2,700, higher than Rs 2,600 yesterday, up by Rs 100.

The gains were even more pronounced in higher quantities. Silver priced at 100 grams rose to Rs 27,000, compared with Rs 26,000 a day earlier, reflecting a jump of Rs 1,000. On a per kilogram basis, silver witnessed a sharp surge of Rs 10,000, climbing from Rs 2,60,000 to Rs 2,70,000 per kg.

MCX Silver Price Today: Check Spot Silver Rate

Silver prices on the MCX (Multi Commodity Exchange) traded sharply higher during the morning session on January 12, 2026. The Silver futures contract expiring on March 5, 2026, under the Precious Metals category, was trading at Rs 2,62,800 per kg at 10:58 AM IST.

The contract registered a strong gain of Rs 10,075, or 3.99 percent, compared to its previous close of Rs 2,52,725 per kg, highlighting aggressive buying interest. The contract opened marginally higher at Rs 2,62,834 per kg, indicating a firm start to the session, and continued to hold near its highs.

Trading activity remained robust, with a volume of 4,195 lots, suggesting active participation from traders and investors. Meanwhile, the spot silver price stood at Rs 90,951.

"Silver could touch the targets of $95-100 (~Rs 300,000 - 325,000), aided by industrial demand and tight supply," said Prithviraj Kothari, MD at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd.

Navneet Damani, Head of Research - Commodities at Motilal Oswal Financial Services Ltd., said, "The silver market in 2025 has moved beyond a conventional bull cycle and entered a structural phase, driven by prolonged physical supply deficits, inventory depletion, and policy-led supply constraints. The widening disconnect between paper pricing and physical availability highlights deeper stress in global price discovery mechanisms."

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