Silver is not far behind — the precious metal hit a three-week high due to heightened inflationary pressures and existing tariffs on Chinese imports and metals.
Varghese Alukka, Managing Director of Jos Alukkas Group, noted that gold prices have reached ₹8,075, following a steady rise. Instead of purchasing new jewellery, many customers are choosing to exchange their old pieces.
Alukka highlighted that there is also increased interest in small bullion coins due to the high prices. Despite the rising cost, people prefer physical gold, anticipating further price increases.
Michael DiRienzo, President and CEO at The Silver Institute, expects industrial demand for silver to exceed 700 million ounces, setting a new record. This growth is largely driven by the electronics and electrical sectors.
The use of silver in photovoltaics is projected to reach new highs in 2025, while demand from consumer electronics, electric vehicles, charging stations, and related infrastructure continues to rise.
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