Silver spot price tops Rs 3L/kg mark

HYDERABAD: Silver extended its rally on Monday, crossing the Rs 3 lakh-per-kg mark for the first time on the MCX. The March contract hit an all-time high of nearly Rs 3.1 lakh, continuing a surge that began in 2025 and has carried into 2026.In Delhi, spot silver prices were quoting at Rs 3,04,500 as against the previous close of Rs 2,94,500. The move was powered by a sharp jump in global prices and a weaker rupee that magnified gains at home. International spot silver briefly sprinted past $94 an ounce before easing during Asian hours, even as precious metals overall pushed to fresh records on renewed safe-haven demand. Silver opened about 5% higher than Friday’s close in global markets and then held firm through the day.Saumil Gandhi of HDFC Securities said the latest spike in the precious metals was driven by escalating tariff uncertainty linked to Greenland after Trump threatened additional duties on several European countries over the weekend.