Silver Prices: The prices of gold and silver are steadily rising. Along with gold, silver prices are also proliferating. Silver prices are expected to increase by approximately 20 per cent over the next year. Brokerage firm MK Wealth Management provided this estimate. The brokerage says that the cost of silver could rise to $60 per ounce within the following year.
Silver prices in the country are experiencing a sharp rise. Due to a supply shortage, prices are continuously rising. In light of this, some mutual fund companies have temporarily suspended lump-sum and switch-in investments in silver-based silver ETFs. Investments will resume after Diwali when supplies normalise.
Ashish Ranwade, Head of Products at MK Wealth Management, said, “Gold and silver are receiving a preference from institutional investors and central banks against the US dollar. Technically, silver is near the breakout level.” He explained that gold has delivered a return of approximately 61.82% over the past year, outperforming both stocks and bonds. However, domestic investors continue to invest in the market consistently.
According to Joseph Thomas, Research Head at Emkay Wealth Management, “India stands out in the global economic landscape. There are ample stock-specific opportunities here. PMS, AIFs, and active fund managers could perform well.” India’s strong GDP growth, GST simplification, interest rate cuts, and a favourable monsoon are expected to support the market rally.
Silver prices are currently hovering around ₹195,000 per kilogram in cities like Chennai, Hyderabad, Kerala, Coimbatore, Madurai, Vijayawada, and Bhubaneswar.
The most significant driver of the rise in silver prices is the international market. Industrial demand for silver is steadily increasing worldwide. Silver use is skyrocketing in sectors such as electronics and solar power.