Silver prices rose 0.37% to ₹95,586 as demand for industrial applications, especially in the electrification and renewable energy sectors, continued to provide support. Silver expectations improved as the US ISM manufacturing PMI rose unexpectedly, indicating improving industrial demand. In addition, India’s ONGC committed Rs. 1 trillion to renewable energy,
Global silver demand is forecast to remain stable at 1.20 billion ounces in 2025, marking the fifth consecutive year of market deficit. Aided by green energy applications, industrial production is expected to grow by 3% to 700 million ounces. While jewellery demand is forecast to decline by 6% due to lower Indian consumption due to rising local costs, investment in silver is forecast to increase by 3% in Europe and North America. Silver supplies are expected to increase by 3% to 1.05 billion ounces, an 11-year high, as mine production increases by 2% to 844 Moz and recycling increases by 5% to 200 Moz.
