SILVER prices are in the spotlight once again because it is hitting new highs due uncertainty in world markets, US tariff war, strong industrial demand, weaking rupee, rising tensions in the Middle East and other places. The silver prices are surging at a rapid pace and making new highs these days on the back of strong industrial demand in the domestic and international markets. Silver prices touched a record high of Rs 1,92,700 per kg, while gold was being quoted at Rs 130,300 per 10 grams without GST in the Nagpur Sarafa Bazar, Itwari on Friday. With 3 per cent GST silver was being sold for Rs 198,500 per kg in the city markets on Friday.

 

“The silver price has touched a new lifetime high of Rs 1,98,500 per 10 kg in the city on account of robust demand from solar panel manufacturers, electronic industry and jewellers. I’am confident that by the March end of 2026, silver prices could touch new high of Rs 250,000 per kg,” Rajesh Rokde, Director of Rokde Jewellers, President of Nagpur Sarafa Association and Chairman of All India Gem and Jewellery Domestic Council (GJC) told The Hitavada. “India imports about 7,000 tonnes of silver out of which 4,000 tonnes is consumed by industry, while remaining 3,000 tonnes is used by jewellers and other industries.

 

There is a huge demand for silver in the country,” he said. “This demand is rising rapidly as electronic industry is using silver to make various products. Currently, about 60 per cent of the silver is used in various industrial purposes. A large number of products are being manufactured using silver due to its inherent properties,” he elaborated. Kishor Sheth, Director of Batukbhai and Sons Jewellers, said that silver and gold prices are creating history due to strong demand in the market. Silver is giving fantastic returns to the investors. So a large number of people are investing in silver, he pointed out.