In 2025, silver prices in India have already soared by nearly 30%, reaching an all-time high of ₹1.11 lakh per kilogram. According to CA Nitin Kaushik, the landmark level of ₹2 lakh per kilogram could be closer than expected, driven by growing industrial demand from solar panels, electric vehicles, and 5G technology, combined with safe-haven buying amid global uncertainties. Limited supply has further fueled the rally.

On the Multi Commodity Exchange, September contracts recently eased to ₹1,13,523 per kilogram due to profit-booking, while global silver traded at USD 38.01 per ounce in New York. Analysts remain optimistic, forecasting another 15–20% upside within 12–24 months, making near-term targets of ₹1.40 lakh realistic and ₹2 lakh by 2026 achievable.

Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA), noted that silver’s dual role as both a bullion and industrial metal strengthens its long-term trajectory. Investor demand, particularly through ETFs, continues to sustain spot prices.

How to Invest in Silver

• Silver Coins & Bars: Popular for physical ownership; coins suit small investors, bars offer better value.

• Silver Jewellery: Less efficient due to making charges.

• Silver ETFs & Futures: Track market prices in real time, offering regulated, transparent investment options.

Taxation

Silver purchases attract 3% GST, while ETFs are taxed like debt funds—20% with indexation for long-term gains and as per income slab for short-term gains.

For investors, silver is no longer just a decorative asset—it’s an evolving wealth creator with strong industrial backing.

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