The record rising trend in silver prices continues.
New Delhi. Silver prices are continuing to rise and have crossed the important figure of Rs 3 lakh. On January 20, Silver Future on MCX hit a record high of Rs 327998 with a rise of more than 5 percent. Everyone is surprised by this continuous rise in silver prices. Meanwhile, the country's leading brokerage houses have warned that a fall in silver prices may be seen after Budget 2026. HDFC Securities has given an important reason behind this.
HDFC Securities has issued a warning on possible policy-based issues, which could impact domestic silver prices in the near future.
Why did the brokerage firm warn on silver?
HDFC Securities has warned that any cut in import duty in the upcoming Union Budget could put immediate pressure on domestic silver prices, despite the metal's strong fundamentals. The brokerage said that although structural drivers for the precious metals remain strong, fiscal policy changes could pose a threat to Indian markets in the short-term.
"However, if the government reduces the import duty on gold and silver in the upcoming budget, it could put pressure on domestic prices and become a drag on domestic prices in the short-term," HDFC Securities said in its research report.
Any duty reduction will automatically reduce landed costs, which could trigger profit-taking after a sharp rise in metal prices even as global benchmarks remain high.
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Despite Budget-related risks, HDFC Securities maintains a positive medium-term to long-term outlook on silver. The brokerage expects that the bullish trend in precious metals will continue till 2026 with the support of several important factors.
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