Silver prices remained firm on Wednesday with 1 kg of silver quoted at ₹1,31,000 in Delhi, Mumbai, and Kolkata, while in Chennai the price stood higher at ₹1,41,000 per kg.
According to Motilal Oswal Financial Services (MOFSL), silver could rally sharply in the coming year, potentially touching ₹1.5 lakh per kg in India. The brokerage’s quarterly outlook cited strong industrial demand, safe-haven buying, and a weaker dollar as key drivers of the uptrend.
On the global front, MOFSL expects Comex silver futures to first advance towards $45 per ounce before moving further up to $50 per ounce.
Silver has already delivered nearly 37% returns year-to-date on MCX, outpacing several other asset classes. Analysts suggest that the combination of rising investment demand and industrial usage, particularly in renewable energy and electronics, could keep silver in an upward trajectory in the near to medium term.
