Silver prices soar past Rs 2.45 lakh per kg, outpacing gold at record speed

Silver prices have recorded a sharp surge, outpacing gold and touching record highs in recent days. In Bhubaneswar, the price of silver climbed to Rs 2.45 lakh per kilogram, marking an unprecedented rise, sources said on Friday.

Also Read: Gold prices surge to record high in Odisha, yellow metal nears Rs 90,000 mark per 10 gm

On Wednesday alone, silver prices jumped by Rs 10,000 per kg, followed by another increase of Rs 1,000 the next day. Over the past three days, the white metal has gained nearly Rs 19,000.

A year-on-year comparison highlights the scale of the surge. In December last year, silver was priced at around Rs 90,000 per kg. This indicates an increase of nearly Rs 1.37 lakh within a year.

Market experts attribute the sharp rise 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. Reports also suggest that central banks are considering investments in silver exchange-traded funds (ETFs), adding further momentum to the price rise.

In addition, rising industrial demand from sectors such as solar power, electric vehicles (EVs) and electronics has driven consumption. The weakening of the Indian rupee against the US dollar has further 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 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 added.