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Time of India
16-07-2025
- Business
- Time of India
Silver jumps 30% in 2025 so far: Will it reach Rs 2 lakh or correct soon?
Silver prices have been on a remarkable rally in recent months, and with the precious metal continuing to climb, the Rs 2 lakh per kilogram mark is beginning to look increasingly realistic. With silver crossing Rs 1,14,000 in Indian markets for the first time—driven by a combination of global and domestic factors—analysts now project a short-term target of Rs 1,40,000, with the potential to hit Rs 2,00,000 by 2026. 'It would not be unrealistic for silver to retest levels around Rs 1,20,000/kg in the short term and potentially reach Rs 2,00,000/kg by 2026, given the bullish industrial momentum, favourable macro conditions, and sustained investor interest,' says Renisha Chainani, Head of Research at Augmont. She believes silver consumption in India will remain strong, particularly for jewellery and silverware during the festive season. Silver's rally fueled by multiple demand drivers Silver has posted impressive gains of over 30% this year, trading at nearly a 14-year high in international markets. For the first time since September 2011, silver prices have surpassed $39 per troy ounce, breaking through key historical resistance levels. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, silver's dual role as both a precious and industrial metal is driving strong demand. The metal has been in a net deficit for the past four to five years, and some studies predict this shortfall could exceed 700 million ounces by 2025. Also read: Commodity Radar: Gold glitters with 27% YTD surge in 2025: 5 key indicators to watch next Silver's Rally Driven by Green Demand, Investment Surge Among the key factors driving silver's surge is growing industrial demand, particularly due to the global transition from fossil fuels to greener alternatives. Silver plays a pivotal role in the renewable energy sector, with increasing use in solar panels, electric vehicles, and electronics. A rising demand for silver in green technologies, combined with higher gold prices nudging consumers toward silver ornaments, has significantly contributed to the metal's bullish run. Moreover, silver's role as a hedge against inflation has sparked strong interest in silver ETFs, which have surged in popularity among investors. In India, ETF holdings recently crossed 1,200 metric tonnes. The global macroeconomic environment — characterized by geopolitical tensions and uncertainty in U.S. trade policies — has further fueled demand. The weakness in the U.S. dollar, exacerbated by trade tariffs and a slowing American economy, has made silver a preferred investment for those looking to diversify away from traditional assets. Domestically, the depreciation of the Indian rupee against the dollar has also contributed to rising silver prices, giving an additional boost to Indian investors. Silver Price Outlook: Rs 2 Lakh/kg by 2026 Silver is currently trading above $39 per troy ounce in the international market. Analysts foresee the rally continuing, with prices potentially reaching $42 per ounce in the short term. In Indian markets, this translates to around Rs 1,20,000 per kilogram. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, based on technical indicators, silver could touch Rs 1,20,000/kg in the near term, with the current rally likely to pause around $42 per ounce. However, the long-term outlook remains bullish. Analysts project silver could test $50 per ounce (Rs 1,40,000/kg) by March 2026. By the end of 2029, prices could climb to $65–70 per ounce, or Rs 1,80,000–2,00,000 per kilogram. Renisha Chainani, Head of Research at Augmont, also points to strong domestic consumption trends, especially for jewellery and silverware during festive seasons. She forecasts that silver could retest Rs 1,20,000/kg in the near term and sees a strong possibility of it touching Rs 2,00,000/kg by 2026, driven by bullish industrial momentum, favourable macroeconomic conditions, and sustained investor interest. Also read: Buyers keep hands off gold, as sales plunge 60% in June, steepest drop since Covid With silver steadily advancing toward Rs 2 lakh per kilogram, driven by a powerful combination of industrial demand, investor interest, and supportive macroeconomic factors, the metal's bull run appears far from over. As the clean energy transition accelerates and geopolitical uncertainties persist, silver's dual role as an industrial essential and investment hedge continues to strengthen, setting the stage for potential new highs in the years ahead. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
14-07-2025
- Business
- Time of India
Gold trading platform Augmont set to file for Rs 1,000 crore IPO
Augmont, a digital gold trading platform, is planning to file a draft red herring prospectus (DRHP) with market regulator SEBI by the end of this month to raise around Rs 1,000 crore through its initial public offering (IPO), said people familiar with the matter . The proposed offering will be a mix of fresh share issue and offer for sale by existing shareholders, said a source familiar with the matter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Experience next-level CPAP comfort with Resmed AirSense 11 ResMed Buy Now Undo In response to an email query, Augmont's CEO Ketan Kothari said, 'Every growing company explores several funding options.' JM Financial , Nuvama and Motilal Oswal are the book-running lead managers for the issue, the people said. These firmsdid not respond to email queries. Augmont's businesses range from refining and bullion trading to digital gold, gold loans, and investible jewellery. It also runs technology platforms for bullion trading and serves retail, corporate, and banking clients online and offline. Live Events Augmont's competitor in refining and minted products is MMTC-PAMP, a joint venture between MMTC and Swiss firm PAMP SA. SafeGold and MMTC-PAMP are key rivals in digital gold.
Time of India
01-07-2025
- Business
- Time of India
Pune customers in wait-and-watch mode to buy gold as prices correct
Pune: Pashan resident Kushagra Agarwal rushed to the jewellers last week as soon as gold prices reduced slightly, to Rs 95,784 per 10g, as he had to buy gold for his son's wedding. With a Rs 3,000 to Rs 4,000 per 10 g reduction in the price of gold, jewellers expect many other residents in the city to walk into stores in the coming days. Tired of too many ads? go ad free now The gold industry has been struggling to find buyers over the last six months as prices have been consistently rising. The price of gold, which was hovering around the Rs 1 lakh mark last month for 10g, is now trading at Rs 96,800/10g grams, excluding GST. Agarwal said: "It is tough to time the market, so we quickly went and booked gold at 9,500/g rate last week. We need to get some jewellery made for our son's wedding, so we have partially made the purchase." Many customers are also waiting to see if the prices drop further. "I need to buy gold jewellery for my daughter's wedding in Dec. I have been looking for a window when prices are lower. The moment it reduces further, I will make a purchase," said Ramesh Marwah, a resident of Wanowrie. Pawan Jagtap, the owner of Siddhi Jewellers in Hadapsar, said opportunistic customers are always waiting for gold prices to correct further before making purchases. "When the price of gold and silver is stable, then there is a good amount of buying. When there are fluctuations, people try to time the market. Gold has gone out of the reach of the common man," Jagtap said. Jewellers at Zaveri Bazaar in Mumbai echoed similar sentiments. "Whenever gold prices reduce, buying activity pauses as there is an expectation that prices will reduce further. The moment it starts climbing again, customers rush to the market to buy," said Anil Jain, a jeweller in Zaveri Bazaar. Tired of too many ads? go ad free now Analysts said that with the price of gold falling to within reach of a six-week low, it is more likely a correction than the beginning of one. "The recent pullback in gold prices has stemmed mainly from the relaxation of geopolitical tensions, along with some profit-booking taking place, following recent strengths," said Renisha Chainani, head of research at Augmont, an integrated gold platform. The festive season is set to begin mid-July, beginning with Shravan, followed by Rakhi, Ganeshotsav, Dasara and Diwali. Buying sentiment has turned positive ahead of the festive season, said Dr Saurabh Gadgil, the chairman and managing director of PNG Jewellers. "Customers have started making their purchases actively, and the current price range seems to have been accepted. Interestingly, recycled gold is contributing to almost 50% of heavy purchases, with people exchanging old designs for new ones," he said.
Time of India
21-05-2025
- Business
- Time of India
Equity surge takes sheen off gold, prices fall 7% from peak
MUMBAI: The ongoing risk-on rally in global markets, after geopolitical and tariff-related uncertainties subsided in the last few days, led to a correction in the price of gold, which is down about 6-7% from its all-time peak of $3,500/ounce level. In the domestic market too, gold is currently trading at around Rs 93,000/10gm level. It is down from Rs 1 lakh level about a month ago and at about Rs 97,000 level on May 9, the day before the Indo-Pak ceasefire between the two nuclear-powered neighbours. According to Renisha Chainani, head of research at Augmont, a gold trading platform, there are at least two fundamental reasons for the sluggish demand for gold in the international markets. "Gold is still struggling, and prices could drop this week as the market takes a wait-and-see stance as the initial reaction to the US credit rating fades and there is some hope that Ukraine and Russia could reach a truce," Chainani said. Following a two-hour phone call with US President Donald Trump on Monday, Russian President Vladimir Putin said that attempts to put an end to the war are on track and he's committed to collaborate with Ukraine on a memorandum pertaining to a peace agreement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo Since gold prices , among other reasons, also thrive on economic and geopolitical uncertainties, a ceasefire between Russia and Ukraine is sure to see some slide in the price of the yellow metal, industry analysts said. On Tuesday, on MCX, gold futures for June delivery were trading at about Rs 93,800 mark, while in the spot market, it was trading at about Rs 93,000. Early on Tuesday, in the international market, gold was trading below the $3,215 mark as investors' focus was shifting to potentially easing US-China trade tensions, a report by Kotak Securities said. Early last month, after Trump announced a series of tariff-related policies for the world's largest market, it elevated global economic and market uncertainties. As a result, by the third week of April, gold prices scaled above the psychologically important Rs 1 lakh mark. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
18-05-2025
- Business
- Time of India
Gold price prediction: Will gold prices drop to Rs 88,000 per 10 grams? Experts see downside, here's what investors should do
Gold price outlook: Axis Securities has observed that gold prices are exhibiting pressure amid significant macro changes. (AI image) Gold price outlook : Gold prices have experienced substantial decline, dropping approximately 7% from their highest point of Rs 99,358/10 grams recorded on April 22 on the MCX. The precious metal is currently at risk of ending below the 50-day moving average, something not seen since December. But where are gold prices headed and what should investors do if the gold rate dips to Rs 88,000 per 10 grams? According to Axis Securities, gold is currently testing the lower range of a 50-day moving average envelope (+3%), which has provided support during all decreases since November 2024. The firm has identified May 16 to May 20 as a vital period for possible trend changes. Their analysis indicated $3,136 as an essential support level in international markets, suggesting that if prices fall below this point, they could potentially decline towards the $2,875-$2,950 range, according to an ET report. Also Read | After gold prices hitting Rs 1 lakh, is it time for silver to rally? Axis Securities has observed that gold prices are exhibiting pressure amid significant macro changes, raising concerns about potential further decline if prices fall below a crucial support level. The firm has noted that reduced expectations for US Federal Reserve rate cuts have affected the demand for secure investments like gold. Additionally, diminished concerns about trade-war impacts on growth have led to increased bond yields, reducing gold's attractiveness. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ethiopia: New Small Electric Car For Seniors. Prices Might Surprise You. Electric Cars | Search Ads Undo The firm pointed out that gold's lack of yield, combined with increasing interest rates, is diminishing its appeal as an investment option. Will Gold Prices Dip To Rs 88,000? Augmont's Head of Research Renisha Chainani believes that gold prices are experiencing significant pressure due to ongoing geopolitical issues and reduced market demand. According to her analysis, "Gold prices bounced up about $100 (Rs 1,500) from their intraday lows as investors appeared to be shifting back to safe-haven assets due to a slowdown in the pace of discussions between Russia and Ukraine and less-than-expected US data". She identified potential opportunities for investors during this period of market pressure. She further stated, "As gold prices have broken the Double-top neckline support of $3200, more downside is expected up to $3000-50 (Rs 87,000 - 88,000) in the short term," suggesting that whilst current trends appear negative, there could be opportunities for long-term investors at reduced price points. The analysis from Augmont indicates substantial downside risk in the technical assessment of gold. Their report establishes support at Rs 92,000/10 gm and resistance at Rs 94,000/10 gm for Indian gold. Despite this confined trading range, the overall market sentiment suggests possible further price reductions. Also Read | India has the world's 7th highest gold reserves! Why is RBI buying gold and how does it help the Indian economy? Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions, expresses a moderately positive outlook, noting that gold's fundamental strengths remain stable despite present market adjustments. "While gold's long-term fundamentals are fundamentally intact, a short-term view of its price trajectory remains vulnerable to macroeconomic sea-changes. Investors still need to be especially attentive to what plays out globally with a diversified strategy in the event of a price downside tail," he said. Kothari cautioned about the possibility of significant price adjustments should worldwide economic recovery exceed current projections. "Nonetheless, a steep correction could also be on the horizon. If global economies start to see speedier recoveries, signaling the end of the necessity of risk-off trades, gold could slip downward to the $3000-$3050 range," he added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
