#Silver Price News Today 28-1-2026 - 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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SSilver prices reached new record highs today, January 28, 2026, with global spot prices jumping approximately 8.52% to touch $114.99 per ounce. In India, silver futures on the MCX surged to an all-time high of ₹3,80,200 per kg, marking a gain of nearly 5% from the previous close. The rally is being driven by a combination of extreme geopolitical tensions, a weakening US dollar, and a structural global supply deficit that has persisted for several years.
Key Market Drivers
-Geopolitical Uncertainty: Renewed trade tensions and tariff threats from the US administration have intensified safe-haven demand.
-Industrial Scarcity: Silver demand for AI infrastructure, solar energy, and electric vehicles continues to outpace mine supply.
-Monetary Shift: Expectations of further Federal Reserve rate cuts in 2026 have lowered the opportunity cost of holding non-yielding assets like silver.
-"Gold on Steroids": Analysts at Citigroup have upgraded their silver outlook, labeling the metal "gold on steroids" and projecting prices could reach $150 per ounce within the next three months.
