New Delhi: Silver prices hit yet another all-time high, surging past Rs 1,13,867 per kg. The price of silver increased by Rs 3,577 to Rs 1,13,867 per kg from Rs 1,10,290 per kg. The current surge in silver rates comes amidst previous spike last Friday, hitting a record high too.
Both gold and silver prices have soared following recent tariff decisions by US President Donald Trump.
In the global market, gold prices posted decline however silver prices have seen an upward and steady rise. Silver increased by 0.59 per cent to $39.185 an ounce, while gold dropped by 0.12 per cent to $3,359.80 an ounce.
The rally in silver rates has once again brought the poor man’s gold to spotlight, with several experts believing that it could be the newest treasure in one’s portfolio.
Gaurav Garg, Lemonn Markets Desk told Reema Sharma of Zee News, “Silver prices have surged to a 14-year high in mid-2025, crossing $39/oz globally and Rs 1.13 lakh/kg on India’s MCX, driven by a powerful combination of industrial demand, macroeconomic tailwinds, and investor flows. In just the first half of 2025, silver gained 25 percent, nearly matching gold’s rally.”
Investor Shift Toward Silver
Garg said that Silver is gaining favor as a more affordable alternative to gold. Global silver ETF holdings rose by ~95 million ounces this year, and Indian retail interest is surging through new ETFs and jewelry demand. Net long positions on MCX are up 163 percent year-to-date, signaling rising investor confidence.
Why Silver Is Rallying?
The surge stems from the following
● Safe-haven buying amid global trade tensions and dollar weakness.
● Monetary policy tailwinds, with expectations of U.S. Fed rate cuts reducing the opportunity cost of holding silver.
● Industrial boom, especially from the solar and EV sectors, driving record demand.
● Tight supply, with a projected 149 million oz global deficit in 2025.
What Is The Outlook On Silver? Bullish but Volatile
Garg says Analysts remain optimistic. Silver’s breakout above $38 suggests potential upside toward $43–44/oz if momentum continues. However, silver remains more volatile than gold. Key factors to watch include U.S. interest rates, inflation data, and industrial growth. With the gold-silver ratio still high (~90:1 vs. historical ~65:1), silver is seen as undervalued, with catch-up potential, he added.
India’s MCX Mirror Rally
In India, silver futures have echoed global trends, hitting all-time highs on MCX. Open interest and retail demand remain strong, particularly around festivals. Spot prices are hovering near Rs 111,000–112,000/kg, and sentiment remains upbeat.
Silver Vs Gold
Complementary Roles While gold remains the traditional safe haven and central bank favorite, silver offers dual benefits — a hedge against uncertainty and a play on industrial growth. Analysts recommend a balanced approach: silver adds upside and diversification, while gold anchors stability.
Garg adds, is global economic uncertainty meets industrial transformation, silver is emerging as a standout asset in 2025. With strong fundamentals and technical momentum, silver may have more room to shine — though investors should stay mindful of its inherent volatility, he says.
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