Silver price in India is now at ₹265 per gram and ₹2,65,000 per kg, up by ₹5,000 from the last trading session. Silver price at ₹260 per gram and ₹2,60,000 per kg were on June 13, but the price rose ₹5,000 per kg in just two days and is showing some momentum in the bullion market.
International and domestic reasons explain the increase in prices as well. In both cases, silver has enjoyed good investor demand and has been able to hedge against inflation and economic uncertainty in the world. The demand for jewellery and industrial goods in India is strong as well as wedding season and festive buying trends are strong.
The increase also underscores silver’s dual role as a precious metal and an industrial commodity. Silver has a bright future in solar energy, electric cars and electronics and investors are monitoring the situation since they provide structural support to prices more than short-term fluctuations.
Traders and investors will certainly be happy with this rise in the price of silver as the ₹5,000 per kilogram increase in price will also show the bullion market is very much on the move again. While gold is always the focus of mainstream media, silver’s much more volatile percentage swings make it an attractive option for those who are looking for high returns but with higher risk.
Market participants think that silver will see growth in the long run if global economic uncertainty and industrial demand continues to rise and demand is strong. But they warned that price movements are also possible, as silver is quite sensitive to the world market and interest rate movements.
Finally, the rise in silver prices to ₹265 per gram and ₹2,65,000 per kilogram on June 15 is testimony to domestic demand and global market demand. With a ₹5,000 increase over the weekend, silver is still on top in the bullion market for investors, jewellers and industrial customers.
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