Introduction
Silver hits record high at ₹1.07 lakh/kg — a historic jump that is the talk of the town among the investment community and the analysts. A record in the silver prices is accompanied by gold prices that have stayed mostly flat today only showing minor fluctuations in the trading session.
Currently, the roller coaster in the market is significantly affecting the prices of precious metals all over the globe. The bullion market in India, on the other hand, is witnessing growing interest in silver from investors who are attracted by its industrial demand and safe-haven characteristics. Here’s a full breakdown of what’s going on.
Table of Contents
Market Performance Overview
A. Silver Surges to New Record
The silver price in Delhi, rose by ₹1,000 and hit a new record of ₹1.07 lakh per kg. This is quite a big jump from the previous levels and it indicates the increasing demand that is especially coming from the industrial and the investment sectors.
This upward movement is in line with the psychedelic ride from the previous weeks when silver reached its zenith at ₹1.07 lakh/kg and was supported by bullish green signals from the world and domestic demand. According to the experts, if the trend hold, it could even be possible to break the record and reach the levels of ₹1.10–₹1.20 lakh/kg.
B. Gold Remains Stable
On the other hand, gold prices barely changed. Monday, in the national capital, 24-carat gold was at ₹97,780 per 10 grams, which is just ₹280 lower. The movement of gold sideways is in complete contrast with the silver’s movement.
According to the opinions of several analysts, the gold market is presently going through a consolidation stage as investors are awaiting some signals from the U.S. Federal Reserve and from the macroeconomic situation to make their decisions.
Key Drivers Behind Silver’s Rally
A. Industrial Demand
Silver is the major element in the manufacture of solar panels, appliances, and electric cars. Since the world is making a huge push for green energy, the industrial use of silver is at the highest.
B. Safe-Haven Buying
Geopolitical tensions and the inflation are making the investors scared and they are moving their money into safer places. So, as a consequence, silver sets a new high of ₹1.07 lakh/kg while the global situation remains uncertain and adds more fuel to this rally.
C. Currency and Global Influence
On the one hand, the weak rupee, and on the other hand, strong international demand have both resulted in higher domestic prices. The U.S. dollar’s slight dip is also facilitating the rise in bullion markets.
What Investors Should Know
- Volatility Ahead: Prices may change quickly depending on the global events that are going to happen.
- Silver ETFs in Focus: Funds that are traded on the exchange and track silver have seen a strong inflow of money.
- Long-Term Outlook: If the industrial demand and the global conflict continue, then the experts are bullish on silver.
V. Conclusion
After silver jumped to a record high of ₹1.07 lakh/kg, the precious metal is still the hot topic among investors who seek opportunities both in the short and long term. Even though the price of gold stays steady, silver is undoubtedly shining. Those who observe the markets suggest being in the know, as there may be more rises or pullbacks in the next few weeks.