SILVER and gold prices are continuing their stellar rally due uncertainty in world markets, US tariff war, 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 1,15,300 per kg, while gold was being quoted at Rs 99,600 per 10 grams in the Nagpur Sarafa Bazar, Itwari on Monday. (Silver and gold prices are without GST, making charges and Hallmarking charges). “The silver price has touched a new lifetime high of Rs 1,15,300 per 10 kg in the city on account of robust demand from solar panel manufacturers, electronic industry and jewellers.

 

After a strong run up, city jewellers are confident that by the year end, silver prices could touch new high of Rs 150,000 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.

 

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.