Silver Prices Hit Record High On Strong Demand; Check Rates Here

Silver futures for July. 4 hit a fresh record high of Rs 1,04,947, as per the Multi Commodity Exchange. The commodity's spot prices, according to the India Bullion Association, have been trading beyond the Rs 1 lakh mark since the beginning of this week.

The previous record high was hit on March 27 this year, when the prices touched Rs 1,01,313 per kg, according to Bloomberg data. The metal has seen an upward trend since the last slip on April 4. The prices had dipped to Rs 87,620 per kg, according to IBA, after which they saw a steady climb.

On Thursday, silver prices traded higher at Rs 1,01,700 per kg, up from Rs 1,01,530 per kg on Wednesday. The commodity has crossed the Rs 1 lakh mark multiple times in the past couple of months, as per the IBA.

Strong industrial demand for silver, fueled by its importance in renewable energy technologies and electronics, has been driving the surge. In the US, the silver rate was $34.70 an ounce.

This remarkable rally is led by a combination of weak U.S. economic indicators, rising geopolitical tensions, a softening dollar, and industrial demand from sectors like electric vehicles and solar energy.

"The road ahead may not be without bumps. Market volatility is expected to remain elevated due to ongoing uncertainties surrounding global monetary policy, U.S.–China trade relations," said Amit Gupta, senior research analyst at Kedia Advisory.

While silver is well-positioned to test further highs—possibly reaching Rs 1,30,000 per kilogram later this year—caution is warranted as price corrections may emerge amid broader economic developments, said Gupta.

Overall, silver continues to reflect the dual narrative of a monetary hedge and an industrial growth story. As the global economic environment evolves, the metal’s ability to balance both roles will determine its trajectory in the coming months.