Last Updated:
Gold has risen nearly 3% in the past one week, while silver has jumped over 4% in the spot market; know why has silver outperformed and what’s the next price target?
Trump’s tariffs are widely expected to fuel inflation and economic
uncertainty, and have prompted gold and silver to reach multiple record highs in 2025.
Gold and silver prices have surged in the past one week amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the US Federal Reserve. Gold has risen nearly 3% in the past one week, while silver has jumped over 4% in the spot market. Why has silver outperformed and what’s the next price target?
Trump’s tariffs are widely expected to fuel inflation and economic uncertainty, and have prompted gold and silver to reach multiple record highs in 2025. Gold is seen as a hedge against political risks and inflation.
Kishor Runwal, managing director of Anmol Jewellers, said, “Trump trade policies are pushing the rallies of gold and silver. Easing in interest rates, and stock market volatility are further supporting the prices.”
Seeing the current rates in silver in physical markets, we are finding low investment, including safe-haven investments. Markets are running very slow. We dont see much buying in investment. These levels are harming the trade as of now in the Indian markets, he added.
“If silver prices hold at the Rs 1,03,000 level for the next 4-5 days, we may see another rally where the next barrier will be around Rs 1,08,000 in physical markets,” Runwal added.
The dollar Index is at near 5-month low.
Silver prices on Monday depreciated Rs 9 to Rs 1,00,729 per kilogram on the MCX as participants reduced their bets.
Recently, Kaynat Chainwala, assistant vice-president (commodity research) of Kotak Securities, told CNBC-TV18, “Silver continues to trade in the range of $31.5 (Rs 93,000) and $34 (Rs 97,000), and once it breaks this, it will head higher towards $38 (Rs 1,15,000).”
Kunal Shah of Nirmal Bang said, “Silver is the only commodity in the last three years running in the deficit of more than 8%. So, this is the perfect storm. The supply of scrap silver, which used to be a major hurdle in the silver prices, is gradually decreasing in India and China. I am expecting silver prices to shoot up 15-20 per cent in the next 3-4 months. In precious metals, silver is my top pick.”