March silver futures in India are experiencing a significant rally, with prices hovering near or exceeding ₹2.9 lakh to ₹3.07 lakh per kilogram as of January 14, 2026. Several analysts are optimistic about silver's trajectory in 2026, forecasting further gains. SAMCO Securities, for instance, predicts that silver prices could surge to an impressive ₹3.94 lakh per kilogram, identifying ₹2.96 lakh/kg as a key medium-term target. Similarly, Motilal Oswal expects MCX silver to reach ₹3.2 lakh per kilogram. Other experts like Maneesh Sharma of Anand Rathi and Praveen Singh of Mirae Asset ShareKhan project silver to hit between ₹2.75 lakh and ₹3.5 lakh per kilogram this year. The upward momentum in silver prices is attributed to a confluence of factors including robust industrial demand, particularly from the green energy sector (electric vehicles, solar panels, electronics), ongoing supply constraints, and heightened investor interest. Additionally, softer US inflation data has bolstered expectations of interest rate cuts, making non-interest-bearing assets like silver more attractive. Geopolitical tensions also contribute to its safe-haven appeal. While the headline questions a fall to ₹2.5 lakh/kg before hitting ₹3 lakh/kg, it's notable that March silver futures did experience a significant dip from ₹2.50 lakh/kg to ₹2.40 lakh/kg on January 8, 2026, before recovering. Current market sentiment, however, sees prices already approaching or surpassing the ₹3 lakh mark, with some analysts identifying the ₹2.59 lakh/kg zone as a crucial support area for potential pullbacks. This suggests that while short-term volatility and corrections are anticipated, the broader outlook for silver remains bullish, driven by strong fundamental and technical indicators.