Silver crosses ₹3 lakh per kg for the first time in India
Silver prices in India surpassed the ₹3 lakh per kg mark on Monday, hitting ₹3,01,120 per kg, marking a historic milestone for the precious metal. The metal surged ₹12,830 in a single session, a gain of 4.45%, amid strong investor demand for safe-haven assets.
Gold prices also remained firm, trading at ₹1,45,590 per 10 grams, up ₹2,500 or 1.75%, reflecting a broader trend of precious metals benefiting from global uncertainties.
Why silver and gold are risingThe rally in silver and gold is driven primarily by safe-haven buying, as investors seek security amid rising global trade tensions and economic uncertainty. Weakness in global stock markets, a softer US dollar, and expectations of lower US interest rates have further supported non-interest-bearing assets like gold and silver. Silver has seen sharper gains due to its dual role as an industrial metal and a safe-haven asset.
City-wise silver rates
Chennai, Hyderabad, Kerala: ₹3,180 per 10 grams
Mumbai, Delhi, Kolkata, Bengaluru, Pune, Vadodara, Ahmedabad: ₹3,050 per 10 grams
The sharp rise may temper fresh retail demand in the near term, as prices have become relatively expensive. Nevertheless, crossing the ₹3 lakh per kg mark underscores strong investor interest in silver during times of uncertainty. Analysts expect gold and silver prices to remain firm as long as global tensions and economic risks persist, with both metals continuing to track global developments closely.
