This Diwali, silver ends its 14-year exile and hits a lifetime high, crosses the $50 mark in the spot markets

Silver ended its 14-year exile, hitting $50 a troy ounce on spot markets on Thursday, three commodity analysts confirmed. Today, the silver price rose to $50.18 per troy ounce, which is a lifetime high so far. The previous lifetime high of $49.80 was achieved in 2011.

The last time silver hit its all-time high was on April 25, 2011, Anuj Gupta, director of Ya Wealth Global Research, told ETMarkets.

Naveen Mathur, Director, Commodities & Currencies, Anand Rathi Shares and Stock Brokers also confirmed the news.

“Silver continued its historic rally and breached the $50 mark for the first time ever on Comex AND crossed a lifetime high of Rs 1,50,800 on the MCX. The rise comes amid the ongoing de-dollarization theme, robust industrial demand and strong momentum in precious metals, led by gold’s record rally that crossed $4,000 and last days,” said Jateen Trivedi, Vice President, Research Analyst at LKP. Effects said.

In domestic markets, silver has already crossed the Rs 1.5 lakh per kg mark. The December silver contracts today touched a new lifetime high of Rs 1,52,642 per kg at the time of filing the story. They were trading at Rs 1,52,612 around 6:40 pm, gaining Rs 2,757 or 1.84% over Wednesday’s closing price.

Silver prices hovered around $49.55 per troy ounce on the COMEX, up $0.561 or 1.15%.

The white metal has had a remarkable run through 2025, rising over 72% or Rs 63,132 per kg. In October, silver has risen almost 6%, with a gain of Rs 8,100.

This precious metal has outperformed all asset classes, including its shinier cousin, gold, whose returns this year are Rs Rs 46,500 or 60%, Gupta said. Yellow metal has risen over 5% or Rs 5,900 so far in October, he informed.

Gupta recommends a buy-on-dips strategy at levels around Rs 1,48,000-1,49,000 with a stop loss of Rs 1,42,000 and a target price of Rs 1,70,000.

Also read: Gold rises 56%, silver 69%, but jewelry stocks plummet 36% by 2025. Where is the money flowing?

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)