New Delhi: Silver prices jumped 4 per cent in futures trade on Monday. The precious white metal, which has been making headlines, over the past one year, soared to Rs 2.93 lakh per kilogram, tracking strong demand in the international markets.
Analysts said investors pumped in money to buy safe-haven assets after the US and Israel launched a joint military actions against Iran. The armed action escalated as Iran’s Supreme Leader Ayatollah Ali Khamenei was killed during air raids, prompting Tehran to carry put retaliatory attacks across the Middle East.
On the Multi Commodity Exchange, silver futures for May delivery climbed Rs 10,508, or 3.72 per cent, to Rs 2,93,152 per kg.
Commenting on the Gold and Silver prices, Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd, said a rally in bullion futures accelerated in early morning trade, with prices soaring over 3 per cent after the US-Israel joint military action against Iran.
Globally, Comex silver futures for May delivery gained USD 4, or 4.3 per cent, to USD 97.30 per ounce. Gold jumped USD 161.8 to USD 5,409.7 per ounce.
“Gold climbed above USD 5,400 per ounce, reaching an over one-month high as safe-haven demand intensified following joint strikes by the US and Israel on Iran over the weekend,” Jigar Trivedi, Senior Research Analyst at IndusInd Securities, was quoted by PTI.
Record Silver Prices: Global Market Dynamics and Supply Deficits
Giving a detailed report on the factors driving Silver price and its outlook, Kedia Advisory Group stated, Technical indicators reflect heightened volatility conditions. RSI and MACD studies indicate strong momentum following the rally toward $91, while elevated volatility and Vortex signals suggest trend persistence but risk of sharp corrective swings. Elliott Wave structure implies continuation potential; however, overextended conditions could trigger consolidation near higher resistance zones.
- Silver rebounds 27% from $64.10 to $91 on safe-haven demand.
- Tariff uncertainty and geopolitical risks boost silver investment flows.
- COMEX registered silver stocks plunge below 90 million ounces.
- China restricts silver exports under strategic industrial protection policy.
- Silver ETFs record $2.44 billion weekly inflows amid volatility.
- Global silver market posts sixth consecutive annual supply deficit.
- Solar manufacturers reduce silver usage through aggressive copper substitution.
- Indian silver jewelry demand drops 9% on record prices.
- Shanghai silver premiums surge $10 above Western spot rates.
- Global mine production rises marginally, supply growth constrained.
- Silver lease rates spike to record 8% delivery stress.
- Shanghai exchange inventories hit decade lows amid shortages.
- Investment demand climbs 11% year-to-date on uncertainty.
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