Silver price falls to Rs 2.75 Lakh per kg in Odisha; rising gold rates trouble buyers!

Silver prices have declined, with the current rate standing at Rs 2.75 lakh per kilogram. After once touching Rs 4 lakh per kg, the white metal has gradually dropped to its present level. For the past four days, silver prices had remained steady at Rs 2.80 lakh per kg in Odisha before witnessing the recent dip, sources said on Tuesday.

Also Read: From 24 to 18-carat! Odisha’s middleclass feels pinch of rising gold prices

Daily fluctuations continue in the gold and silver markets. Interestingly, while platinum has traditionally been considered more valuable than gold and diamonds, soaring gold prices have now outpaced platinum’s value.

With gold becoming increasingly expensive, consumer interest is gradually shifting towards silver as a more accessible precious metal investment.

Market experts attribute the price fluctuations of gold and silver to multiple global and domestic factors. Growing uncertainty in the global economy and ongoing tariff-related trade tensions have pushed investors towards silver as a safe investment option.

In addition, rising industrial demand from sectors such as solar power, electric vehicles (EVs) and electronics has driven consumption. The weakening of Indian rupee against US dollar had previously contributed to higher domestic silver prices.

“Silver is increasingly being used for industrial purposes such as solar panels, electronics, medicines and electric vehicles. This is one of the main reasons behind the price rise,” economic expert Trinath Lenka had told OTV, when contacted.

“Compared to gold, silver prices are likely to rise further. In my view, the price could even touch Rs 2.60 lakh per kg in the coming days, given strong demand in international markets,” the economic expert had added.

Reported By: Snigdha Lenka