Why Are Silver Prices Reaching New Heights as Gold Rises?
Click to start listening
Synopsis
On July 11, silver prices soared to an all-time high, coinciding with a rebound in gold prices. Amid fresh tariff concerns from the US government regarding Canada and Brazil, the surge reflects a significant shift in investor sentiment. This article explores the key factors driving the precious metals market today.
Key Takeaways
- Silver prices have reached an all-time high of Rs 1,10,290 per kg.
- Gold prices have also risen, with 24-carat gold now at Rs 97,511 per 10 grams.
- Tariff concerns from the US are influencing precious metal prices.
- Experts predict further increases if tariffs or export bans are announced.
- Market sentiment is shifting favorably towards gold and silver.
New Delhi, July 11 (NationPress) Silver prices have reached an unprecedented high on Friday, coinciding with a rise in gold prices, thus breaking their previous downward trend. The surge in precious metal prices is attributed to renewed tariff concerns involving Canada and Brazil from the US government.
Silver saw a remarkable increase, gaining Rs 2,356 to hit Rs 1,10,290 per kg, up from Rs 1,07,934 per kg.
This surpasses the earlier record of Rs 1,09,550 per kg established on June 18 this year.
Apurva Sheth, Head of Market Perspectives and Research at SAMCO Securities, noted that silver is set for a substantial rally, which it has indeed delivered.
“Silver is currently forming a cup and handle pattern on the intraday charts. It is already experiencing a shortfall. If the US or other countries were to implement similar tariffs on silver or, worse yet, ban exports as China did with rare earth minerals, we could see silver prices soar to unprecedented heights,” Sheth added.
It’s no longer a question of whether you should invest in silver; rather, it’s about how much you should own, she emphasized.
Data from the India Bullion and Jewellers Association (IBJA) reveals that the price of 24-carat gold increased by Rs 465 to reach Rs 97,511 per 10 grams, compared to Rs 97,046 on Thursday.
The price for 22-carat gold rose to Rs 89,320 per 10 grams, up from Rs 88,894, while 18-carat gold climbed to Rs 73,133 per 10 grams, an increase from Rs 72,785.
“Gold prices remain robust as renewed trade tariff concerns bolster the bullion market. With the US imposing fresh tariffs on Canada and Brazil, markets are starting to factor in the negative impacts of renewed trade tensions,” stated Jateen Trivedi, VP Research Analyst at LKP Securities.
“The resultant uncertainty has once again shifted investor sentiment towards gold, especially following recent price corrections due to the de-escalation in the Middle East,” Trivedi remarked.
The surge in both gold and silver aligns with international market trends. Gold was trading at 1.01 percent higher at $3,358 per ounce, while silver rose 2.92 percent to $38.40 per ounce.
As of around 5:44 PM, the future contract expiring on August 5 was trading at Rs 97,582 per 10 grams, reflecting a rise of Rs 891 from the previous close of Rs 96,691.
Point of View
It is vital for investors to stay informed and make well-considered decisions. NationPress remains committed to providing accurate and timely information to our readers.
NationPress
30/08/2025
Frequently Asked Questions
What factors are driving the rise in silver prices?
Recent tariff concerns from the US government regarding Canada and Brazil have contributed significantly to the rise in silver prices.
How does the current gold price compare to silver?
Currently, gold prices have also seen an increase, with 24-carat gold priced at Rs 97,511 per 10 grams.
What historical high did silver recently surpass?
Silver prices recently surpassed their previous high of Rs 1,09,550 per kg, reaching Rs 1,10,290 per kg.
What is the expert opinion on the future of silver prices?
Experts suggest that if tariffs on silver are imposed, prices could escalate substantially.
Are there any international trends affecting precious metals?
Yes, the current trends indicate that both gold and silver are rising in alignment with international market movements.
