Silver prices in India are currently at ₹2,32,600 per kg, approximately 45% lower than the record high of ₹4,20,088 per kg. The recent geopolitical tensions, particularly the US-Iran war, have contributed to market volatility, with crude oil prices rising and strengthening the US dollar, which has dampened precious metal prices. Experts, including Amit Goel (Chief Global Strategist at PACE 360), believe that silver prices will not fall below ₹2 lakh per kg during this downturn, anticipating a ceasefire in the US-Iran conflict within the next two weeks. This could spur industrial demand for silver, potentially pushing prices up to ₹2,80,000 to ₹3,00,000 per kg. Anuj Gupta, a SEBI-registered market expert, echoed this sentiment, stating that a ceasefire could lead to increased industrial demand, further boosting prices. However, analysts caution that after reaching these highs, silver prices may face another downturn, possibly falling to ₹1,80,000 to ₹1,75,000 by the end of 2026 due to ongoing crude oil supply chain issues. The outlook remains cautious, with immediate resistance for MCX silver set between ₹2,33,000 and ₹2,34,000.