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Silver prices soar past Rs 1 lakh on demand from green tech and industry

in Economy
Reading Time: 2 mins read
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Silver prices soar past Rs 1 lakh on demand from green tech and industry

Athira Sethu

Kochi, 8 June 2025

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Prices of silver in India have hit a new record high this week. In the Multi Commodity Exchange (MCX), July 4 silver futures rose to Rs 1,04,947 per kg. This is an all-time high for silver in India. Spot prices, according to the India Bullion Association (IBA), have been over Rs 1,00,000 per kg since the beginning of this week.

The previous record price for silver was on March 27, 2025, at Rs 1,01,313 per kilogram. Following which the prices declined in early April to a level of about Rs 87,620 per kilogram. But since then, prices have been increasing consistently again.

Silver prices have exceeded the Rs 1 lakh level several times in the past few months, indicating good market demand.

One of the key drivers for silver’s surge is strong industrial demand. Silver finds applications in most modern technologies such as solar panels, electric cars, and electronics. As the world transitions to clean energy, the demand for silver has increased. Silver was trading at $34.70 per ounce this week in the United States.

Analysts indicate that several international factors are driving up prices of silver. These include:

  • Weak economic indicators in the US
  • Escalating tensions between global superpowers
  • Weakening US dollar
  • Heavy industrial demand

According to industry analysts, silver may still go on to appreciate and possibly hit Rs 1,30,000 per kg later this year—but prices could also drop dramatically if global sentiments shift.

In total, silver right now is both a safe investment in times of uncertainty and a key material for industrial development. Its price is determined by how these two roles will unfold in the next few months.

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