Silver has ignited the markets with a blistering performance, smashing through its previous all-time high and adding nearly 5,000 rupees to its price tag per kilogram. This explosive move has sent shockwaves through bullion exchanges across India, where spot prices and futures alike have posted jaw-dropping gains over the past week.
What sparked this frenzy? A perfect storm of global events. Escalating trade uncertainties and a surge in green energy investments have supercharged demand for silver’s industrial applications. From electric vehicles to photovoltaic cells, the white metal’s role in the energy transition is undeniable. Add to that the flight to quality amid stock market jitters, and you’ve got the recipe for this historic climb.
In Mumbai’s bustling bullion markets, dealers report brisk sales despite the elevated levels. ‘Buyers are locking in now, fearing further upside,’ said one veteran trader. Online platforms for silver coins and bars have crashed under heavy traffic, underscoring retail frenzy.
Economists warn that while the rally reflects real supply-demand dynamics, speculative froth could lead to sharp pullbacks. India’s import duties and taxes on silver amplify the domestic price impact, making local rates even more sensitive to international cues.
Looking ahead, forecasts suggest sustained strength if inflation remains sticky and the Fed delays rate cuts. For investors, this could be a golden—er, silver—opportunity, but timing the top is tricky. As prices hover at uncharted peaks, the bullion world holds its breath for the next chapter.