Silver Price Today: MCX Silver SURGES to Fresh High of ₹ 1.06 Lakh. Can it Rally More?

Silver price today: Extending Its Record Run, Silver Pries on McX Hit a Fresh Record High, Jumping to 1,06,065 per kilogram (kg) in the Evening Session on Friday, June 6.

Rising in line with firm global trends, MCX Silver price surged 1.55% over the last close. With today’s gain, the white metal has gained almost 22% so far in 2025, catching up with gold’s near 27% rally.

Analysts believe that supply deficits, along with institutional demand, are driving silver prices. Additionally, they believe that ongoing uncerty amid geopolitical risks is kept the safe-han demand for precious metals like gold and silver intact.

“Silver has Seen a Structural Turnard Since Its 2020 LOWS, Driven by a Combination of Safe-Hen Demand during During Global Cries, Rising Geopolitical Tensions, and BOMING Industry Use In Clean Eremy Technologies, “Said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

All eyes on us data

“After underperforming Against Gold, Silver Has Suddenly Attracted Interest from Investors, Catching Up to Gold’s Pace. The Gold/Silver Retirsed from the Recent HIGHS and MARKED AOWS Yesterday’s Session. Holdings Into Silver-Backed ETFS are up 2.2Moz on Wednsday, “Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services.

He added that now the market participants will focus on the us non-afarm payroll and unpretentious rate data due today, which could buy decide further direction for bot metals. According to a Reuters Report, Non-Afarm Payrolls Likely Increased By 130,000 Jobs in May, While The Unempolyment Rate is Expected to Remain Steady at 4.2%.

Silver Price Outlook & Strategy

Trivedi believes that the outlook for silver remains strong. “Silver has surgged Nearly 60% over the past two years. Russia & Ukraine, Silver Remains Poised to Test 1,10,000- 1,20,000 this year, “Trivedi said.

With the outlook bulish, he recommended a buy-on-diaps strategy.

Commenting on the short-term technical outlook for silver, kalantari of mehta equities said that silver has support at $ 35.5.55-35.30 While Resistance IS at $ 36.22-36.22-36.22-36.5555. Meanwhile, in rupee terms, he sees support for silver pris at 103,560-102,750 and resistance at 1,05,850-1,06,750.

Disclaimer: This story is for educational purposes only. The views and recommendations made Above are that of individual analysts or broking companies, and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.