On September 8, 2025, silver touched a closing high of ₹124,413 per kilogram. This industrial-cum-precious metal is up 49.3 per cent in the Indian market over the past year. After this massive rally, experts suggest that investors exercise caution.
Drivers of the rally
Industrial demand, which accounted for 58.6 per cent of the total demand for silver globally in 2024, according to the Silver Institute, is a key driver of price. “There is strong global demand from green technologies like solar panels and electric vehicles,” says Niranjan Avasthi, senior vice-president, Edelweiss Mutual Fund.
Supply-side constraints have also contributed to

)