Can silver prices beat gold in future? Vedanta Group chairman shares perspective
Mumbai: Silver prices recently reached unprecedented levels, with December futures crossing the Rs 1,00,000 per kilogram mark on the Multi Commodity Exchange (MCX) for the first time.
Industry leader Anil Agarwal, Chairman of Vedanta Group, shared his perspective on X (formerly Twitter), noting silver’s evolution from a traditional precious metal to an essential industrial resource, spurred by advancements in technology.
This notable price surge is set against the backdrop of heightened volatility in the dollar index and persistent geopolitical tensions, reflecting strong investor interest in precious metals.
“In India, prices have crossed Rs 1 lakh per kg! Demand has doubled from last year. Silver's demand is being driven not just by its traditional uses but by massive industrial demand. It is now being used extensively in solar panels for renewable energy, in EVs, in advanced healthcare, electronics and many other technologies," Agarwal shared on X.
Can silver become more precious than gold?
— Anil Agarwal (@AnilAgarwal_Ved) October 24, 2024
Silver is shining.
In India, prices have crossed Rs 1 lakh per kg! Demand has doubled from last year.
Silver's demand is being driven not just by its traditional uses but by massive industrial demand.
It is now being used… pic.twitter.com/JAE4TLlxjr
Agarwal emphasized that silver’s unique blend of value as both a precious and highly functional metal is increasingly rare, further widening the demand-supply gap.
"It is the new critical mineral of the future," he concluded.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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