Silver's Meteoric Rise: A Glinting Record in Global and Domestic Markets

Silver prices reached a record Rs 1,08,100 per kilogram in India's capital, influenced by global trends and robust investor demand. This surge contrasts with fluctuating gold prices, affected by US-China talks and a strong US jobs report. Geopolitical tensions and industrial demand are driving silver's ascent.

Silver prices have skyrocketed to an unprecedented Rs 1,08,100 per kilogram in the national capital, reflecting strong global trends. This rise follows robust investor demand amid a weak dollar, increasing geopolitical tensions, and consistent industrial consumption from the electric vehicle and solar sectors, as indicated by the All India Sarafa Association.

In stark contrast, gold witnessed declines with high-purity variants dipping significantly. Gold has faced a challenging market primarily due to mixed signals from anticipated US-China economic discussions and the impact of a robust US Nonfarm Payrolls report, which lessened the likelihood of Federal Reserve policy easing, analysts say.

Internationally, while spot gold slightly gained, spot silver saw a notable 0.9 percent increase to USD 36.30 per ounce. The rise in silver has broken long-term resistance levels globally, fueled by positive sentiment from softened European inflation figures and growing trade optimism, notes industry experts at Mehta Equities.

(With inputs from agencies.)