Silver prices exceed Rs 1 lakh mark again, impact on Dhanteras demand
“This price rise will impact the demand for silver during the Dhanteras-Diwali period and volume-wise it may drop by 15-20 per cent,” said Surendra Mehta, national secretary of India Bullion & Jewellery Association (IBJA).
Mehta said that silver has remained undervalued for a long time and now it is on a bull run. “Also, there’s speculation that Russia is accumulating silver. That is why the prices are moving up too,” he said.
"Silver prices have gained strong upward momentum, with physical market prices surpassing Rs 100,000 per kg in India. As gold prices soar, retail buyers are increasingly turning to silver, viewing it as a relatively cheaper alternative at these levels, especially with gold now touching Rs78,000 for 10 grams. The rise in silver is being driven not only by its appeal as a more affordable precious metal but also by increasing demand from the electric vehicle (EV) sector and photovoltaic applications, which is expected to sustain global demand in the medium to long term” said Jateen Trivedi, VP Research Analyst- Commodity & Currency at LKP Securities.
MCX silver futures for December 5 expiry and March 5, 2025 expiry reached the life-time highs of Rs 98,598 per kg and Rs 1,00,564 per kg, respectively.
Stock Trading
Introduction to Technical Analysis & Candlestick Theory
By — Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert
Stock Trading
Mastering Options Selling: Advanced Strategies for Success
By — CA Manish Singh, Chartered Accountant, Professional Equity and Derivative
