New Delhi: Following the US-Iran ceasefire announcement, Silver prices on Wednesday rallied by Rs 15,028 to Rs 2.46 lakh per kilogram in futures trade. The precious white metal soared driven by strong global trends and increased investors’ sentiment after a two-week halt to the war in West Asia. On the Multi Commodity Exchange, Silver price skyrocketed by 6.5 per cent or Rs 15,028 to Rs 2,46,376 per kg, as compared to Tuesday’s closing level of Rs 2,31,348 per kg.
Expressing his views on the jump in Silver prices, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said the white metal surged today reflecting a strong demand amid rising risk aversion. He added that the ongoing geopolitical tensions have created a uncertain atmosphere, pushing investors toward safe-haven assets.
Despite the superb jump, Silver prices remained below the levels recorded before the US-Israel and Iran war began on February 28, 2026. In the international market, silver futures for the May contract jumped 7.05 per cent to USD 77.06 per ounce.
Geopolitical Tensions Fuel Safe-Haven Silver Demand
Commenting on the rise in Silver price, Commodity expert Ajay Suresh Kedia said the white metal jumped, marking a three-week high after US President Donald Trump delayed strikes on Iranian civilian infrastructure to allow negotiations on a potential resolution. The two-week ceasefire, including Iran’s agreement to temporarily reopen the Strait of Hormuz and Israel’s assent, eased geopolitical risk and supported precious metals.
Silver remains down approximately 37% from its peak since the onset of the conflict, pressured by surging energy prices that heightened inflation concerns and reinforced hawkish central bank expectations, while the temporary ceasefire has bolstered short-term market sentiment, Kedia added.
Putting forward his point of view, Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said, Silver was supported by macro factors, including a softer US dollar and the dollar Index slipping below 99, further boosted momentum.
Meanwhile, the Reserve Bank of India kept the repo rate unchanged, adopting a cautious stance amid uncertainty arising from the six-week Iran conflict.
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