Silver hits new peak of Rs 1.04 lakh/kg amid global, industrial push
ADVERTISEMENT 'The increase in silver prices was largely expected, given gold's extraordinary performance, which set the stage for silver's growth. Despite silver being widely used in industrial applications, its price has not surged as dramatically as gold's,' Rajesh Rokde, chairman of All India Gem & Jewellery Domestic Council (GJC).
Recently, reports indicate that Ukraine launched drone strikes on Russian airfields, targeting military aircraft2. In response, Russian President Vladimir Putin has stated that Moscow will retaliate. The geopolitical tension surrounding this situation could have significant implications for global markets, including precious metals like silver.
'This is a powerful threat, and it could also boost silver prices. Given the current circumstances, there is a strong expectation of a massive surge in silver prices,' Rokde said.From a fundamental perspective, the silver market remains on solid footing. The Silver Institute forecasts another supply-demand deficit in 2025, marking the fifth consecutive year of shortfall. Industrial demand, a key pillar, is projected to hit a new high, bolstered by growth in green energy sectors. Silver industrial fabrication is expected to rise by 3%, exceeding 700 million ounces for the first time. Investment demand is also projected to grow by 3%, driven by recovery in Europe and North America.
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
13 minutes ago
- Economic Times
EAM Dr S Jaishankar, NSA Doval plan trips to Russia this month
Synopsis India is reinforcing its longstanding relationship with Russia, planning high-level visits to Moscow despite pressure from the US to reduce oil imports. National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar will discuss defense collaboration, regional issues, Arctic cooperation, and increased trade. ANI External Affairs Minister S Jaishankar New Delhi: India is keeping its ties with Russia steady with high level visits planned to Moscow this month amid US President Donald Trump's demand asking to reduce oil imports from Russia and threatening penalties if New Delhi failed to do Security Adviser Ajit Doval and External Affairs Minister S Jaishankar are planning Moscow trips this month, ET has learnt. While Doval could visit Moscow in early part of this month, Jaishankar is planning a trip to Russia mid-August, it has been further defence industry collaboration besides regional situation will be big on the agenda when Doval meets his Russian counterpart, according to persons familiar with the are reports that India is looking to purchase additional S-400 defence systems which had contributed to India's success during Operation Sindoor. India also plans to have MRO facilities for S-400 here. There are also unconfirmed reports that India is exploring purchase of Su-57 fighter jets from in the resource rich Arctic region and increasing Indian exports to Russia will figure high on the agenda when Jaishankar meets his counterpart Sergey Lavrov besides First Deputy Prime Minister Denis Manturov. On Friday while defending ties with Russia MEA spokesperson Randhir Jaiswal said, "India and Russia have a steady and time-tested partnership." "Our bilateral relationships with various countries stand on their own merit and should not be seen from the prism of a third country."India will host the next edition of the annual India-Russia summit this year that will enable President Vladimir Putin to travel to New Delhi for the first time since industry ties, energy ties in the backdrop of recent EU sanctions, civil nuclear partnership, Arctic cooperation besides joint roadmap for cooperation in the high-tech sector will be on the agenda of the Summit, ET had reported last monthFood security could also be on the agenda of the Summit. Putin recently mentioned following Modi's direct request, Russia increased exports of fertilisers to other issues, Russia wants India to increase its presence in a big way in the resource rich Arctic region and earmark a second site for the nuclear power plant even as it has established its presence in the Small Modular Reactor workforce is increasing in the Russian construction and textile sector and a formal agreement on manpower could be inked during the summit.
India.com
13 minutes ago
- India.com
Indian Army makes big defence deal, will buy 212 tank transporter trailers that will enhance military operational capability
(Image: ANI) New Delhi: The Indian Army on Friday, 1 August, signed an agreement of Rs 223.95 crore with Axiscades Aerospace and Technologies Private Limited. Under this, 212 state-of-the-art 50-tonne tank transporter trailers will be purchased. This deal is an important step towards increasing the operational mobility capability of the army and supporting the Atmanirbhar Bharat Abhiyan. This agreement was signed under the Indian-IDDM category. This agreement gives priority to indigenous design, development and manufacturing. This will strengthen self-reliance in the defence sector. These trailers are equipped with hydraulic/pneumatic ramps and steerable and liftable axles. These will make it easier to transport tanks and armoured vehicles to difficult areas. These trailers will add to the operational strength of the army and greatly enhance the logistics and operational capabilities of the army, and will act as a force multiplier. This deal will boost the indigenous defence manufacturing sector and will also create permanent employment opportunities. This is a sign of strong preparation for future challenges. Earlier, the Indian Army conducted the high-tech Divya Drishti exercise in Sikkim on 28 July. The exercise, conducted in the high-altitude areas of East Sikkim, tested new technologies designed to improve battlefield awareness, real-time surveillance and quick decision-making. The soldiers of the Tri Shakti Corps used a combination of ground-based systems and aerial platforms, including UAVs and drones, to execute real scenarios. Its special feature was the use of AI sensors. These sensors were connected to advanced communication systems. This arrangement ensured smooth and secure data flow between the command centres and helped in increasing situational awareness as well as making accurate decisions, i.e. a strong sensor-to-shooter link was created.
Time of India
41 minutes ago
- Time of India
MNNIT team develops advanced oil seal to boost two-wheeler performance
Prayagraj: In a significant breakthrough, a team of mechanical engineers at MNNIT Prayagraj has undertaken a pioneering project to design a leakage-resistant oil seal for motorcycle and scooter shock absorbers. Led by assistant professor Tej Pratap, the six-month initiative is backed by the Hero Group with an Rs 8.1 lakh grant, aiming to enhance ride quality and reduce maintenance costs. Unlike conventional efforts to redesign entire shock absorbers, this focused initiative targets the oil seal — a small but critical component that prevents hydraulic oil from leaking out of the shocker assembly. Leakage not only reduces suspension efficiency, but also damages internal shocker components, ultimately forcing vehicle owners to replace the entire unit or incur repeated repair costs. The MNNIT project aims to develop an advanced oil seal using new materials and seal geometries that can effectively eliminate this recurring problem. Pratap explained that the new seal design would enhance internal sealing strength, thereby preventing oil seepage even under high-stress and high-temperature conditions. The development process includes prototype fabrication, rigorous lab testing, and eventually, field testing in collaboration with Hero's R&D wing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Struggling With Belly Fat? Try This at Home Home Fitness Hack Shop Now Undo Once validated, the oil seal is expected to be integrated into next-generation two-wheeler models, significantly reducing ownership costs and enhancing shocker longevity. Working alongside Pratap are Abhishek Tiwari and Ashutosh Mishra from the Applied Mechanics Department. To meet project timelines, MNNIT is also appointing a dedicated project assistant with a stipend of Rs 30,000 per month. The team expects to deliver a working prototype within the next few months. This collaboration underscores a larger trend of industry-academia partnerships in solving practical engineering challenges. With this innovation, Hero Group and MNNIT aim to set a new standard for component reliability in India's booming two-wheeler market. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
