Silver Prices Soar: Will it Hit ₹3 Lakh or Drop to ₹2.5 Lakh? Experts Warn of Volatility

• Silver prices have surged by 22% in 2026, reaching new all-time highs on MCX, with March, May, and July futures hitting ₹2,87,990, ₹2,94,503, and ₹3,01,383 per kg respectively.
• The sharp rise is attributed to lower-than-expected US CPI data, strengthening hopes for Federal Reserve interest rate cuts, and increased safe-haven demand amidst geopolitical tensions.
• Experts like Justin Khoo suggest crossing ₹3 lakh per kg will be challenging in the short term due to an overextended market, but possible in the medium term if gold remains high, the dollar weakens, and risk aversion continues.
• Nirpendra Yadav highlights a multi-year supply deficit and growing structural demand from solar panels, EVs, and electronics as key drivers for sustained price pressure.
• While the technical outlook is bullish, experts advise a 'buy on dips' strategy, with support around ₹2,40,000 and resistance at ₹3,00,000 per kg, warning of potential short-term profit-taking.

Why It Matters: Silver prices are at record highs due to rate cut hopes and demand, but short-term volatility is expected.