Silver Skyrockets Over 200% in 9 Months: Will it Breach ₹3 Lakh Mark?

• Silver prices on MCX surged over 200% in 9 months, from ₹95,900 to ₹2,87,700 per kg, outperforming major asset classes.
• Analysts rapidly revised targets as silver hit a new record near ₹2,92,900 per kg, indicating faster-than-anticipated demand growth.
• Silver's dual role as a precious metal and industrial component (electronics, solar, EVs) drives demand, leading to a five-year supply deficit.
• Depleting above-ground reserves and a structural shortage contribute to rising prices, with experts predicting limited downside.
• Central banks' growing interest in silver as a strategic asset, alongside gold, reinforces its market position and supports current price levels.

Why It Matters: Silver has seen an unprecedented surge due to high demand, supply shortages, and strategic interest, nearing ₹3 lakh.