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Silver prices in India touches a record high on the MCX to hit Rs 1,05,000 per kg, while global prices reached a 12-year high at $34.90 an ounce.
The gold-silver ratio has dropped sharply from 107 to 95, indicating a growing investor preference for silver over gold.
Silver prices on Thursday touched a record high on the MCX, surging by nearly 3.5 per cent to Rs 1,05,000 per kg, while the global prices reached a 12-year high at $34.90 an ounce. The rally is fuelled by strong investor demand, soft US economic data, a weakening dollar, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors.
“Early June saw a sharp shift in market sentiment as gold — and especially silver — broke through major technical resistance levels. A weakening US dollar, now nearing a two-year low, served as the immediate trigger. However, underlying geopolitical tensions and revived trade war concerns are also fuelling the rally in precious metals,” said Rahul Kalantri, vice-president (commodities) at Mehta Equities.
The gold-silver ratio has dropped sharply from 107 to 95, indicating a growing investor preference for silver over gold as a relatively undervalued asset with stronger growth potential, he added.
“Silver prices in India touched a record high on the MCX, hitting Rs 1,05,000/kg, while global prices reached a 12-year high at $34.90/oz. The rally is fueled by strong investor demand, soft US economic data, a weakening dollar, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors,” Mehta said.
‘Silver May Hit Rs 1,20,000 By This Diwali’
“Silver might reach Rs 1,14,000 to Rs 1,20,000 by this Diwali, but investors should brace for a bumpy ride ahead as market volatility remains high amid global uncertainties,” Mehta said.
Gold Price Today
Gold prices on Thursday also rose as rising economic uncertainty and weak US data, including a contraction in the services sector and the slowest private job growth since March 2023, fuelled expectations of at least two Fed rate cuts this year. In Mumbai, the price of gold stood at Rs 91,300 per 10 grams for 22-carat and Rs 99,600 per 10 grams for 24-carat.
With 3% GST, gold prices has reclaimed the Rs 1 lakh mark and stand at Rs 1,02,588 per 10 grams in Mumbai.
According to a report by brokerage house Quant Mutual Fund, after an impressive upside move in the past few months, gold prices might fall by 12-15% in the next two months.
“Gold has peaked out and has the potential to correct by 12-15% in dollar terms over the next two months. However, our medium-term and long-term views are equally constructive, and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals,” Quant Mutual Fund stated in its latest ‘Factsheet for June 2025’.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso… Read More
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