Silver prices are predicted to soar, potentially hitting Rs 1.5 lakh per kg in the foreseeable future. According to Motilal Oswal Financial Services, this surge is fueled by strong industrial demand, safe-haven flows amidst global uncertainties, and a weakening dollar.
The white metal’s international market value is expected to reach USD 50 per ounce. Silver’s year-to-date returns on the Multi Commodity Exchange have outperformed numerous asset classes, noted the firm’s quarterly outlook.
Supporting factors include green tech demands like electric vehicles and solar power, geopolitical tensions, and potential interest rate cuts. However, while a weaker dollar boosts precious metals, some profit booking might follow the current rally.
