Silver prices at record high: They can multiply fourfold, here's why
Silver price today: Silver prices, which hit a record high of Rs 1,49,000 per kg on September 27, saw minor profitbooking falling by Rs 100 to Rs 148,900 today.
- Sep 29, 2025,
- Updated Sep 29, 2025 9:38 AM IST
Silver prices, which are trading near record high during the ongoing festive season are expected to rise further- with one analyst predicting they could easily multiply fourfold from here. Silver prices, which hit a record high of Rs 1,49,000 per kg on September 27, saw minor profitbooking falling by Rs 100 to Rs 148,900 today.
According to a report by Axis Mutual Fund, 2025 is expected to be the fifth consecutive year where silver demand outstrips supply, leading to a supply deficit.
The report says that industrial demand for silver is at an all-time high as the precious metal is a critical component in solar panels. The demand is likely to rise with the global acceleration of renewable energy projects and tech and electronics (from semiconductors to 5G infrastructure to electric vehicles) steadily consuming more silver.
Coming to demand for the precious metal, over half of total silver demand now comes from industrial uses. Silver has extensive industrial uses especially in sectors such as electronics and solar energy.
Sourav Choudhary, MD, Raghunath Capital expects silver rates to rise four times from current level.
“Gold’s 60% rally since January 2024 is impressive, but silver is where the real upside lies. Historically, when gold runs, silver goes ballistic. With the gold-to-silver ratio stretched at 87:1 versus its 63:1 average, silver is poised for an explosive breakout. A simple mean reversion signals 40%+ gains, but if momentum drives an overshoot—as it often does—silver could easily multiply fourfold from here,” said Choudhary.
Silver prices, which are trading near record high during the ongoing festive season are expected to rise further- with one analyst predicting they could easily multiply fourfold from here. Silver prices, which hit a record high of Rs 1,49,000 per kg on September 27, saw minor profitbooking falling by Rs 100 to Rs 148,900 today.
According to a report by Axis Mutual Fund, 2025 is expected to be the fifth consecutive year where silver demand outstrips supply, leading to a supply deficit.
The report says that industrial demand for silver is at an all-time high as the precious metal is a critical component in solar panels. The demand is likely to rise with the global acceleration of renewable energy projects and tech and electronics (from semiconductors to 5G infrastructure to electric vehicles) steadily consuming more silver.
Coming to demand for the precious metal, over half of total silver demand now comes from industrial uses. Silver has extensive industrial uses especially in sectors such as electronics and solar energy.
Sourav Choudhary, MD, Raghunath Capital expects silver rates to rise four times from current level.
“Gold’s 60% rally since January 2024 is impressive, but silver is where the real upside lies. Historically, when gold runs, silver goes ballistic. With the gold-to-silver ratio stretched at 87:1 versus its 63:1 average, silver is poised for an explosive breakout. A simple mean reversion signals 40%+ gains, but if momentum drives an overshoot—as it often does—silver could easily multiply fourfold from here,” said Choudhary.