Silver Shines Bright: Record Surge Driven by Industrial & Investment Demand

Silver prices have soared to new heights, reaching Rs 2,89,000 per kg, propelled by rising investment and industrial demand in India. Gold continues its ascent with a new peak at Rs 1,47,300 per 10 grams. Persistent buying by jewellers and stockists fuels this price rally, despite global market corrections.

In a relentless rally, silver prices have soared to a new record of Rs 2,89,000 per kilogram, marking a rise of Rs 3,000 on Thursday, according to the All India Sarafa Association. Similarly, gold prices hit a peak of Rs 1,47,300 per 10 grams amid continuous purchasing by stockists and jewellers.

This surge marks the fifth consecutive day of gains for silver, which increased by nearly 16 per cent or Rs 45,500 in the past week. Gold, too, has been experiencing an uptick, accumulating a 7 per cent gain since the start of the year, largely driven by domestic demand despite international market fluctuations.

Experts attribute silver's significant rise to its dual role as both a traditional store of value and a critical component in industrial sectors such as solar energy, electronics, and electric mobility. This has bolstered silver's long-term price support as India's ambitions in renewable energy and infrastructure accelerate.

(With inputs from agencies.)