Silver futures on Indian exchanges surged to an all-time high of ₹1,84,727 per kilogram, spurred by a sharp depreciation in the rupee and firm global demand for precious metals.
The gains reflect a combination of drivers: a weak rupee making dollar-priced silver costlier for domestic buyers; rising global silver prices due to demand from industrial, solar and industrial-tech sectors; and growing expectations that the U.S. Federal Reserve will cut interest rates — which tends to boost appeal of non-yielding assets like silver.
This year alone, silver has more than doubled in value — entering what analysts are calling a “multibagger” phase.
With the recent move, many market watchers are now eyeing the ₹2 lakh/kg milestone, although some caution that the rally could face corrections given silver’s volatility and sensitivity to currency and global macro shifts.
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