Silver prices in India surged sharply on Tuesday, September 9, with 1 kg of silver quoted at ₹1.30 lakh — up ₹3,000 from the previous session. Prices for 100 grams also advanced by ₹300 to ₹13,000, reflecting strong global and domestic demand.
Global momentum drives rally
In international markets, silver touched a 14-year high, supported by expectations of aggressive interest rate cuts from the US Federal Reserve, a weaker dollar, and falling Treasury yields. Analysts say persistent supply deficits, dwindling inventories, and rising industrial use in solar power, electric vehicles, and electronics are fueling the metal’s long-term demand.
“Silver is considered not just a precious metal but also an industrial commodity of prime importance,” said Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA). “With growing industrial consumption, analysts are setting near-term targets in the range of ₹1.35 lakh–₹1.50 lakh per kg.”
Technical outlook and investor trend
Rahul Kalantri, VP Commodities at Mehta Equities, noted that silver has technical support at ₹1.24–₹1.23 lakh per kg and resistance at ₹1.26–₹1.27 lakh per kg.
While silver has outperformed gold over the past year and even on a three-year basis, a Value Research analysis highlights that Indian investors continue to prefer gold. Experts caution that silver’s sharp rallies often come with heightened volatility, making it a high-risk, high-reward bet compared to its yellow-metal counterpart.
