Explosive Growth in Precious Metals: Silver on Its Way to reach ₹130,000
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The metals of good quality market today are in good demand and are experiencing an unmatched growth and silver is leading this growth. As prices are expected to rise to ₹130,000 per kg in the near future, investors as well as analysts are keen to find out what is pushing up this metal. Explaining the neonate increase in the price of silver , its prevailing state, and future trends is the major focus of this article. Current Market Scenario The current price trend of silver in India shows the price as in the time frame of July 2024, to be approximately ₹ 77000 INR per kilogram. This is going up from the previous year due to various extraneous factors within the global and domestic environment. Facets of the global economy such as the COVID-19 pandemic, geopolitical tensions, inflationary pressures, and the world’s economic recovery have also boosted demand for silver as a safe haven. Factors Driving the Surge Industrial Demand : Silver is very essential in various applications such as