The metal has soared 165% year-to-date, rising ₹1,42,090 from ₹86,017/kg at the end of 2024. Gold followed suit, gaining ₹6,177 per 10 grams over seven days to reach ₹1,37,956—an 81% annual increase from ₹76,162.

Analysts attribute silver's rally to surging industrial demand in solar panels, electronics and electric vehicles, compounded by stockpiling fears over potential US tariffs under the incoming Trump administration and global supply constraints.

Gold's climb stems from a weaker dollar after US rate cuts, ongoing geopolitical tensions including the Russia-Ukraine war, and aggressive buying by central banks like China.

Kedia Advisory director Ajay Kedia forecasts further gains, predicting silver could hit ₹2.75 lakh/kg and gold ₹1.50 lakh per 10 grams by 2026.

IBJA rates exclude GST, making charges and local margins, leading to variations across cities. Experts advise buyers to opt for BIS-hallmarked gold and verify daily rates.

The relentless bull run reflects precious metals' dual role as safe havens and industrial commodities amid economic uncertainty.