Silver Prices Surge Amid Global Tensions

Silver prices soared by over 3% to Rs 2.67 lakh per kilogram as geopolitical tensions and US trade policy uncertainties prompted safe-haven buying. On the Multi Commodity Exchange, it rose sharply amid strong industrial demand expectations, especially from the solar and electronics sectors.

Silver prices experienced a notable surge on Friday, climbing more than 3% to Rs 2.67 lakh per kilogram in futures trading. This increase came as investors turned to the precious metal as a safe haven amidst escalating geopolitical tensions and uncertainties surrounding US trade policies.

On India's Multi Commodity Exchange, the price of silver for March delivery rose by Rs 8,231, reaching Rs 2,67,900 per kg, bolstered by a business turnover of 3,352 lots. According to Gaurav Garg, a Research Analyst at Lemonn Markets Desk, silver outperformed other commodities and surged into the upper Rs 2.6-2.7 lakh per kg range, driven by geopolitical factors and investor demand.

The anticipation of robust industrial demand for silver, especially from sectors like solar and electronics, played a crucial role in supporting prices. In the global market, Comex silver futures also rose by USD 1.82, marking a 2.06% increase to USD 90.11 per ounce. Despite potential volatility, analysts expect precious metals to remain well-supported in the short term, influenced by upcoming US economic data and geopolitical developments.