Silver shines bright: Touches Rs 2 lakh mark, sets new record high

Silver has shattered all records, reaching an all-time high of Rs 2 lakh per kilogram, overtaking gold in momentum. The metal surged by Rs 9,000 in a single day and has become Rs 16,000 costlier in just two days, marking one of the steepest climbs in recent times.

Why Are Prices Soaring?

The unprecedented rise is largely driven by a global shortage of silver. A significant portion of silver from the London Metal Exchange has been shipped to the United States, tightening international supply. Meanwhile, demand has skyrocketed due to silver’s expanding use across industrial sectors, from electric vehicles and solar panels to medical devices and electronics.

In India, wealthy individuals, institutional investors, and major corporations are betting big on silver, seeing it as both a hedge against inflation and a profitable long-term asset. Although India has been importing large quantities of silver since May, October witnessed major supply disruptions, further pushing prices upward.

According to market analysts, investors are shifting toward silver as gold prices are also soaring, viewing it as a more affordable yet powerful safe-haven asset. The move comes at a time when global uncertainties, wars, inflation, and market volatility continue to unsettle traditional investment channels.

Also Read:ISKCON holds untimely Rath Yatra again, this time in Rishikesh; faces backlash 

Speaking on this, financial expert Trinath Lenka said, ‘Both the prices and demand for silver have soared recently. Silver is being used in a variety of products, including electric vehicles, green energy, solar panels, medicines, and electronics. This has caused prices to multiply within a month, said Trinath Lenka, Financial Expert from Bhubaneswar. The supply of silver has been disrupted, and silver ETFs are also limited. Moreover, with rising gold prices, many investors are turning to silver. On a global scale, wars and market volatility are prompting people to invest in safe-haven assets like gold and silver’

In the current economic climate, silver is no longer a precious metal but also a valuable asset for both industry and investors. With the demand for white metal rising rapidly, all eyes are on whether the silver rally could continue in the coming months.