After a 170% rally in MCX silver prices last year, brokerage firm Motilal Oswal has set its 2026 target at ₹3.20 lakh/kilogram, with a risk-negation level of ₹1.40 lakh. Based on the current price of around ₹2.52 lakh, this implies a potential upside of nearly 27%. Motilal Oswal said that the surge was driven by a mix of global factors.