SILVER PRICES SURGED to a fresh all-time high on the Multi Commodity Exchange (MCX), surpassing the ₹84,000 per kg milestone on April 12. The silver market has experienced significant fluctuations in recent quarters, driven by many factors, including economic indicators, geopolitical uncertainties, and unique market dynamics.
Between 2013 and 2019, silver prices steadily declined due to various factors like a strong dollar, the Eurozone debt crisis, and economic slowdowns in major economies. However, according to Kaynat Chainwala, Senior Manager-Commodity Research at Kotak Securities, this trend might shift.
In fact, the rise in silver prices on the international market has already reached a three-year high, while on the local market, it has reached new all-time highs.
The current rally is mainly driven by record-high gold prices, which, according to Anuj Gupta,…