Throughout 2025, there has been a continuous rise in the prices of gold and silver. However, silver prices have increased more than gold. As a result, silver has set records. The commodity market's price surge momentum continues into 2026. Seeing this, experts believe silver prices could create new records again.
Despite facing pressure in the early part of last week, COMEX silver ultimately took a big leap on Friday. Rising 5.59 percent in a single day, silver prices on COMEX reached $79.341 per ounce. The total growth rate at the end of the week was 11.27 percent. On India's MCX, March 2026 futures silver prices per kg have reached approximately 2 lakh 52 thousand rupees. In this situation, the question arises: can silver touch $100 on COMEX? Can silver prices reach 3 lakh rupees on MCX in India?
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Supply disruptions and industrial demand fuel rally
According to experts, the recent rise in silver prices is due to structural changes in demand and supply. Due to increasing tensions between America and Venezuela, problems have emerged in silver exports from Peru and Chad. Additionally, market experts claim that China has effectively imposed a ban on silver exports from January 1, 2026. Along with this, demand for silver in electric vehicles, solar energy, and electronic products is rapidly increasing. As a result, the gap between demand and supply is widening, leading to a sharp upward movement in silver prices.
However, experts have also issued warnings. According to them, the commodity market overall is gradually cooling down. They believe this silver rally will stop at some point. Although they are not ruling out the possibility of silver prices touching 3 lakh rupees per kg on MCX before this rally stops. Experts also estimate that the maximum level of silver on COMEX could be around $100.
Speaking about the future of silver on COMEX, Amit Goel of Pace 360 said, "No rally is permanent. The bullion market is no exception. Last week saw strong selling in base metals. There was pressure on bullion too. Towards the end of February, silver prices could reach the peak again. In that case, the possibility of touching $100 still remains."
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However, he cautioned that the $70 level is a very important support. If closing occurs below this level, the rally could end without touching $100. On the other hand, silver faces major obstacles at $84 and $90 on its way to $100. Only if these two levels are firmly crossed can silver prices on COMEX reach $100 or thereabouts, according to him.
He has said the same thing regarding MCX. He has mentioned two hurdles for silver to touch 3 lakh rupees on India's commodity exchange. According to him, silver prices can cross 3 lakh only if they can surpass the barriers of 2 lakh 65 thousand rupees and 2 lakh 90 thousand rupees. Additionally, he has informed that silver's support zone has formed at 2 lakh 30 thousand rupees.
