The price of silver has skyrocketed to unprecedented levels, marking one of its most powerful annual performances in decades. On the COMEX, the March 2026 contract for the precious white metal surged to a fresh all-time high of $79.70 per ounce. This represents a staggering rise of approximately 190% from its 52-week low of $27.545 per ounce. Mirroring this global rally, silver futures on the Multi Commodity Exchange (MCX) in India also scaled a new peak, touching ₹2,39,397 per kilogram on Friday.
Why is Silver Price Skyrocketing? Experts Explain the Structural Shift
Market analysts unanimously point to a fundamental structural shift in the market as the core driver behind the relentless uptrend. Ponmudi R, CEO of Enrich Money, emphasized that silver is outperforming across the precious metals spectrum. He attributes the rally to a powerful mix of safe-haven demand, accelerating industrial consumption, and persistent supply tightness. The bullish momentum is so strong that price pullbacks have been shallow and short-lived, with the metal significantly outpacing gold.
Anuj Gupta, Director of Ya Wealth, provided a detailed breakdown of this structural change. He stated that a combination of technology, physics, and geopolitics has elevated silver to a safe-haven status comparable to gold. A pivotal recent development is Samsung's announcement to move towards mass production of solid-state batteries, intended to replace current lithium-ion technology.
Samsung's Solid-State Battery: A Game-Changer for Silver Demand
This technological leap is a major demand catalyst. Solid-state batteries, which promise ultra-fast charging and a lifespan of nearly two decades, use silver as a core raw material. Gupta highlighted that global silver production is currently around 850 million ounces, while demand is approximately 1.16 billion ounces. Samsung's foray into solid-state batteries alone could potentially increase silver demand by around 100 million ounces, dramatically widening the existing supply deficit.
The industrial demand is not limited to batteries. Consumption from the electric vehicle (EV), solar energy, and white goods sectors continues to grow steadily over time. This creates a sustained pressure on supply from multiple high-growth industries.
Geopolitics and Supply Chain Pressures Add to the Rally
The demand-supply gap is being exacerbated by geopolitical tensions. Anuj Gupta noted that rising US-Venezuela tensions have disrupted the traditional Caribbean shipping routes for silver. This logistical bottleneck is putting pressure on exports from major suppliers like Peru and Chad, further constraining global supply. This situation underscores that the current price movement is not a short-term fluctuation but part of a significant, long-term structural repricing of the metal.
Given these powerful fundamentals, experts are bullish on the outlook. Both analysts predict that this structural shift could propel silver prices towards the $100 per ounce mark in the short to medium term. On the domestic front, Ponmudi R of Enrich Money observed that prices have cleanly broken above the ₹2,32,000-₹2,35,000 range, triggering the next major leg of the rally. He sees upside targets now opening towards the ₹2,40,000 to ₹2,50,000 per kg range on MCX.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies. We advise investors to consult with certified experts before making any investment decisions.
