Silver climbs higher at 2026 opening

AHMEDABAD, 2 JANUARY, 2026: Silver climbed to around $73 per ounce on the first trading day of 2026, building on its strongest year on record.The precious metal surged 148% last year, breaking through several key levels, supported by its designation as a critical US mineral, tight supply conditions, low stockpiles, and strengthening industrial and investment demand.The rally has also been reinforced by the rollout of broad US trade tariffs and expectations of looser US monetary policy.Minutes from the FOMC’s December meeting, released earlier this week, showed growing openness to rate cuts if inflation continues to ease, although policymakers remain divided over the timing and scale.Geopolitics also continued to lift safe-haven appeal, as the US tightened restrictions on Venezuela’s oil exports and renewed Russia-Ukraine attacks over the New Year period damaged Black Sea ports and key energy infrastructure.MCX Silver March prices are likely to appreciate to Rs 242,000/kg.- By Mr. Jigar Trivedi, Senior Research Analyst at Reliance Securities

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