#Silver Price News Today 21-1-2026 - Elliott Wave and technical analysis of Silver, focusing on market structure, key support and resistance zones. Video by MCO Global Equities & Commodities.
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Silver prices reached historic levels today, January 21, 2026, with international spot prices hovering near record highs of $94.20 - $95.01 per ounce. In India, domestic rates surged to an all-time high of ₹3,25,000 - ₹3,25,903 per kilogram. The market is currently driven by intense safe-haven demand due to escalating trade tensions between the US and Europe, particularly regarding US interest in Greenland and subsequent tariff threats.
Key Market Drivers
--Geopolitical Instability: Tensions surrounding US trade policy and the Greenland territorial dispute have triggered a "flight to safety," boosting both gold and silver.
--Supply Scarcity: Structural supply deficits have persisted for five years. China's implementation of strict silver export controls on January 1, 2026, has further tightened global availability.
--Industrial Demand: Explosive growth in the AI sector, coupled with rising demand for solar panels and electric vehicles, has created unprecedented industrial consumption.
--Strategic Stockpiling: Emerging economies, led by Russia and India, are increasingly adding silver to their national reserves as a strategic asset.
Price Predictions & Outlook
--Bullish Targets: Citigroup and other analysts suggest silver could reach $100 per ounce by March 2026, with some potential for $110 later in the year.
--Domestic Targets (India): Analysts expect MCX silver to target ₹3,38,000 per kg in the near term.
--Correction Risk: Some banks, including HSBC, warn that the metal may be fundamentally overvalued at these heights, projecting a long-term average closer to $68 once supply constraints ease.
