Silver Hits ₹1.07L/kg—Because Bling Isn’t Just for Insta, It’s for Grams

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Silver prices have gone up to an all-time high of 1.07 lakh per kilogram, a first in the history of precious metals. Meanwhile, the prices of gold were steady on the Multi Commodity Exchange (MCX) with investor sentiment being weak.

Market Forces Behind Silver's Record Rally

Strong investor appetite has fueled the increase in silver, with investors capitalizing on its industrial and safe-haven demand.

A weakening US dollar has made silver more attractive to overseas consumers, making it more expensive.

Heightened geopolitical tensions and economic instability have fueled the status of silver as a sought-after commodity.

Industrial application from industries such as solar power and electric cars continues to fuel silver's bullish trend.

Gold's Steady Performance Throughout Silver's Upward Trend

99.9 percent gold was at 97,780 per 10 grams with very little change despite the rally in silver.

Analysts are explaining gold's consolidation to mixed global signals like US-China trade negotiations and Federal Reserve policy expectations.

Prices of spot gold experienced small increases globally, but local markets were not affected much.

Future Prospects for Precious Metals

Silver's boom can continue if the economic conditions internationally remain good, with forecasts expecting further hikes.

Gold's steadiness reflects conservative investor hopes, holding out for clearer indications from macroeconomic occurrences.

Subsequent US inflation data and Federal Reserve policy could dictate the direction of both metals in the coming weeks.

Sources: MSN, NewsBytes, Zee Business, CNBC TV18, Deccan Herald, Livemint, Moneycontrol, Economic Times.