Silver markets opened with robust momentum today, propelled by a sustained rally in COMEX silver prices, bolstering bullish sentiment among traders. MCX silver rates gapped higher at Rs.2,39,041 per kg, swiftly climbing to an intraday peak of Rs.2,43,443 per kg, as global cues reinforced key support levels around $70 per ounce.​

The March silver contract edged lower by Rs.73, or 0.03%, to settle at Rs.235,800 per kg, marking a retreat from its record high of Rs.2,54,174 per kg on December 29—a drop of nearly Rs.19,000. Domestic trading remained range-bound amid a shortened session on Thursday, with MCX closed for the evening and limited international cues.​

COMEX silver traded firmly green since early Friday, holding above critical $70/oz support, while Wednesday’s international futures plunged $7.33 (9.37%) to $70.89/oz. International markets reopen today, poised to steer domestic trends amid ongoing volatility.​

Ponmudi R, CEO at Enrich Money, affirms a resilient long-term bullish structure despite short-term pressures, with support at the rising channel and 20-day EMA near Rs.2,08,994. A decisive move above Rs.2,36,000 could ignite fresh upside targeting Rs.2,45,000–Rs.2,60,000 in the medium term, favoring accumulation on dips.​