Silver is No Longer the Poor Man’s Gold: Outshines Gold in Historic Price Surge, Hits Record Rs 1,06,138/kg

Silver prices soared to an all-time high of Rs 1,06,138 per kilogram on the Multi Commodity Exchange (MCX) on June 9, marking a significant milestone in the precious metals market. The sharp rally reflects a strong global uptrend, fuelled by heightened investor interest and robust industrial demand. With a nearly 9% surge over the past week, silver has not only outpaced gold but also reaffirmed its growing prominence as both a safe-haven asset and a vital industrial metal.

Silver Is No Longer the Poor Man's Gold: Outshines Gold in Price Surge

Globally, the white, shiny metal-often referred to as the "poor man's gold" is now trading above $36.5 per ounce, a level not witnessed in over a decade.

According to Augmont's site, silver and platinum are attracting buyers because they are much cheaper than gold and might face supply issues. Experts believe silver could go up to $38 per ounce which is equal to Rs 1.11 lakh per kilogram (Kg) if the trend continues. But the US inflation report and the Federal Reserve's meeting on June 17-18 could change things. If inflation is higher than expected, interest rate cuts may be delayed, the dollar might get stronger, and silver's rise could slow down.

Why Surge in Silver Rates Globally?

This surge makes it one of the top-performing commodities in 2025. The rise is attributed to safe-haven buying, global supply issues, and strong industrial demand, especially from clean energy and electronics sectors.

The ongoing Russia-Ukraine conflict and the global shift towards green technologies have further increased silver's appeal as both a strategic asset and an essential industrial input. Experts predict that this upward trend is likely to continue, with prices potentially reaching Rs 1,23,000 per kilogram in the coming months.

Silver serves a dual purpose as both an industrial component and a precious asset. This allows it to benefit from economic uncertainties and technological advancements. Geopolitical concerns also play a role, with Russia being a major silver producer involved in ongoing conflicts. This situation raises fears of potential supply shortages.

The metal's safe-haven demand has been bolstered by a weakening dollar, trade tensions, and the Federal Reserve's cautious approach to interest rates. Technical chart patterns suggest a multi-year surge for silver, reinforcing predictions of continued upward momentum.

Expert Opinions on Silver's Future Outlook

Naveen Mathur from Anand Rathi Shares and Stock Brokers anticipates silver's upward momentum to persist. He expects returns of 18% to 20% compared to current levels. Mathur predicts international prices could range between $38.70-$41.50 per ounce, translating to Rs 1,15,000-Rs 1,23,000 per kilogram on MCX futures in 2025.

"Silver prices hit lifetime highs above Rs 1,05,000 in MCX futures while prices reached almost 13-year highs in international markets above $36/oz in spot. The safe-haven demand persisted due to the Russia-Ukraine front and softening US macro cues. Russia, a top 10 global silver producer, adds supply disruption risks in a market already running a deficit for five years," he stated.

The overall outlook for silver remains optimistic due to strong institutional interest and long-term supply constraints. As it continues gaining traction in investment and industrial sectors alike through the rest of the year.

Silver Rate in India Today: Silver Retail Prices

Today, the silver price in India has seen a noticeable rise across various quantities. The price per gram is Rs 108, up by Rs 1 from yesterday's Rs 107. For 8 grams, silver is priced at Rs 864, an increase of Rs 8 compared to Rs 856 the previous day. The rate for 10 grams has risen by Rs 10, now standing at Rs 1,080, up from Rs 1,070. For 100 grams, silver costs Rs 10,800, which is Rs 100 higher than yesterday's Rs 10,700. Similarly, the price for 1 kilogram has gone up by Rs 1,000, reaching Rs 1,08,000 from Rs 1,07,000.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.