Silver prices cross ₹2 lakh per kilogram for the first time
Silver price crossed the ₹2 lakh per kilogram mark for the first time today, December 17th. According to the India Bullion and Jewellers Association (IBJA), one kilogram of silver opened at ₹2,00,750 this morning. However, its price later fell slightly, closing at ₹1,99,641 per kilogram, a gain of ₹7,664. Previously, it was at ₹1,91,977.
Silver first reached ₹1 lakh per kilogram on March 18th. This means it took only 9 months for silver to go from ₹1 lakh to ₹2 lakh per kilogram. In contrast, it took 14 years for it to rise from ₹50,000 to ₹1 lakh per kilogram. With the current price, silver is now at an all-time high.
Four major reasons for the surge in silver prices
Industrial Demand – With heavy use in solar, electronics, and EVs, silver is no longer just a precious metal for jewelry; it has become an essential raw material.
Trump’s Tariff Fears – US companies are stockpiling large quantities of silver, and the resulting shortage in global supply has driven prices up.
Manufacturer Competition – Fear of production disruptions is leading everyone to buy in advance, which is expected to keep prices high in the coming months.
Increased Investment in Silver Investors are investing in silver through Silver ETFs. This is increasing the demand for silver.
Gold Rises by ₹540 to ₹1.32 Lakh
Today, 24-karat pure gold also rose by ₹540 to ₹1,32,317 per 10 grams. Previously, it was at ₹1,31,777 yesterday, December 16th. Gold had reached an all-time high of ₹1,33,442 per 10 grams on December 15th.
