Silver Investment Frenzy: Indore Sees Record Sales, Prices Soar Towards 350,000

• Indore's bullion market is experiencing a massive surge in silver purchases, with prices increasing by over 40,000 in four days to reach 290,000.
• Hukum Soni, President of the Indore Sarafa Traders Association, notes unprecedented daily price hikes of 15,000-20,000, a significant jump from previous occasional 500-1,000 increases.
• Market trends suggest silver prices could hit 350,000 by the end of January, attracting both small and large investors.
• Daily silver sales in Indore have skyrocketed from 100-200 kg to 2,000-3,000 kg, primarily in bullion form, as investors prioritize silver over gold due to slowdowns in property and stock markets.
• International demand from industries like defense, solar, and electric vehicles, coupled with stockpiling by countries like China, is also fueling the price surge.

Why It Matters: Indore's silver market is booming with record sales and soaring prices, driven by investor interest and industrial demand.