Silver prices hit ₹1.15 lakh per kg for first time in India

Silver prices in India touched all-time high on Monday (July 14). The metal surged to ₹115 per gram and ₹1.15 lakh per kilogram — the highest ever seen in the domestic market, according to Goodreturns data.

Globally, spot silver rose 0.6% to $38.59 an ounce.

Analysts point to strong industrial demand and tight supply. “Silver outshined most commodities last week, marking an all-time high on the domestic front and hovering near $40 on COMEX,” said Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Services.
Silver prices often follow gold’s trend. But this time, the white metal has outperformed gold. In June, silver gained more momentum due to robust industrial use and underinvestment in mining.
“Silver has indeed outperformed gold recently, particularly in June, as industrial demand continues to strengthen,” said Nirpendra Yadav, Senior Commodity Research Analyst at Bonanza. “Its unique position as both a precious and industrial metal makes it especially responsive to macroeconomic trends.”

Nearly 60% of silver’s demand comes from sectors like solar panels, electronics, and electric vehicles. Supply has not kept pace. “Underinvestment in silver mining — often a byproduct of other metals — has caused a fifth straight year of supply deficit,” Yadav added.

Tradejini COO Trivesh D said investor interest is growing too.

“Silver is getting all the spotlight, not just as a precious metal but also due to industrial demand. With growing ETF inflows — ₹854 crore in May, nearly three times that of gold ETFs — silver is drawing fresh attention.”

Silver’s sharp rise signals investor appetite for metals that benefit from both industrial growth and safe-haven appeal. Many expect the trend to stay firm if industrial demand remains strong and mining output stays tight.

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