The spotlight in the precious metals market has shifted sharply from gold to silver. After months of steady gains alongside gold, silver has now outpaced it, surging to historic highs in both international and domestic markets. For investors and consumers alike, the sudden spike has become a major talking point.
Silver Crosses $60 per Ounce Globally
In the international market, silver prices have climbed beyond $60 per ounce for the first time ever, marking a dramatic surge of nearly 5% in a single session. Analysts attribute this spike to expectations that the US Federal Reserve may soon cut interest rates, a move that typically boosts demand for precious metals like gold and silver.
Industrial supply constraints have also played a major role. Silver has been trading above $50 in recent weeks, but global supply shortages and rising demand triggered a sharp jump.
Domestic Prices Soar: Hyderabad at ₹1.92 Lakh per Kg
Following the global rally, Indian bullion markets witnessed a steep rise in silver prices. In Hyderabad’s bullion market, silver touched ₹1.92 lakh per kilogram on Wednesday, inching dangerously close to the ₹2 lakh mark.
Exactly one year ago, silver crossed the ₹1 lakh milestone for the first time. In just 12 months, it has nearly doubled—an extraordinary rise.
Why Silver Demand Is Growing Rapidly
Silver’s rising value is not just tied to its status as a precious metal. Its industrial demand has surged significantly in recent years. The metal is now widely used in:
- Electronics manufacturing
- Solar panel production
- Electric vehicle (EV) components
- Semiconductor applications
As demand rises globally, production has not kept pace, creating a widening supply gap. Over the past few years, gold prices have risen about 59%, while silver has zoomed 107%, highlighting this shift.
Gold Prices Also See an Uptick
Even as silver steals the headlines, gold continues to climb. In Hyderabad:
- 10 grams of 24-carat gold is priced at ₹1.32 lakh
- 22-carat gold used for jewellery stands at ₹1.20 lakh
In global markets, spot gold is trading at $4,207 per ounce, while silver remains strong at $61.49 per ounce.
What Lies Ahead?
If the Federal Reserve announces a rate cut as expected, analysts believe both gold and silver may rise even further. With silver rapidly approaching the ₹2 lakh per kg milestone, investors and consumers are watching the market with heightened interest.
