Silver prices have witnessed a spectacular surge, rising by ₹2,000 in a single day to take the 925 standard rate near the ₹1,90,000 per kg mark.
Futures trading reflected this rally, with MCX March Silver contracts reaching ₹1,91,800 per kg. Gold futures for February also climbed to ₹1,30,502 per 10 grams.
The year-long trend shows silver has dramatically outperformed gold, recording a 108% increase compared to gold's 68% rise. Experts attribute the white metal's aggressive rally to robust industrial demand (from solar, EVs, and data centers) and a structural supply deficit.
Physical gold prices also climbed on Thursday, with 24-carat gold at ₹1,30,460 and 22-carat at ₹1,19,588 per 10 grams, increasing by ₹682 to ₹910 over Wednesday's rates. The strong silver rally is now predicted to further buoy gold prices.