Silver price rally of ₹1 lakh per kg in a month cools physical demand in India

Silver prices in India have risen by about ₹1 lakh per kg in the past one month, crossing the ₹3 lakh mark. In the international market, too, silver is trading around $93–94 per ounce.

Kishore Roonwal, CEO of Anmol Silver,  expects prices to continue rising and touch ₹3.30 lakh per kg. Roonwal said investor participation in India is limited at present due to high prices. Physical silver is trading at a discount in domestic markets, while it is selling at a premium in the US and China. In China, it is sold at a premium of about ₹10,000, he said.

Also Read | Silver on MCX crosses ₹3 lakh/kg for the first time amid rising geopolitical uncertainties

Demand for silver articles has declined as prices have increased. Roonwal said volumes have fallen even though turnover remains similar due to higher prices. Silver jewellery demand is holding up better, while investments through silver ETFs have increased.

He also said India’s silver imports remain high despite the price rise, and are close to last year’s levels, while gold imports have declined.

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Also, catch the latest Budget 2026 expectations updates here

Catch all the latest updates from the Q3 earnings here