Can silver turn out to be extra valuable than gold? Here is what Vedanta’s Anil Agarwal thinks

“Silver is shining” — Silver costs surged to historic heights not too long ago with December futures crossing the Rs 1,00,000/kg mark on the Multi Commodity Alternate (MCX) for the primary time. Business magnate Anil Agarwal, Chairman of Vedanta Group, took to X (previously Twitter) to share his outlook on silver. He highlighted silver’s transformation from a conventional valuable steel to an important industrial useful resource, pushed by new-age applied sciences.

The white steel’s stellar rise comes amid heightened volatility within the greenback index and ongoing geopolitical tensions, signaling a sturdy urge for food for valuable metals amongst traders.

“In India, costs have crossed Rs 1 lakh per kg! Demand has doubled from final 12 months. Silver’s demand is being pushed not simply by its conventional makes use of however by large industrial demand. It’s now getting used extensively in photo voltaic panels for renewable power, in EVs, in superior healthcare, electronics and plenty of different applied sciences,” Vedanta boss stated on X.

Agarwal stated the mix of being valuable and purposeful is uncommon and the demand provide hole is growing.

“It’s the new important mineral of the longer term.”

The rise in silver costs

Based on a report by DSP Mutual Fund, silver has outperformed different valuable metals together with gold.Broadly utilized in electronics, photo voltaic panels, batteries, and more and more in semiconductors, silver performs a significant function in fashionable expertise. Rising industrial demand, mixed with expectations of one other fee minimize by the Federal Reserve, is driving the steel’s market worth greater.

Hindustan Zinc’s silver video games

Agarwal additionally highlighted the numerous contribution of Hindustan Zinc, a Vedanta subsidiary, within the international silver market. The corporate produces silver by way of a 100% solar-powered refinery, making certain a sustainable manufacturing course of.

“At first, making silver was a problem, however our engineers and technologists made it doable. Right this moment, we’re one of many largest producers of silver globally, and we purpose to turn out to be primary,” he stated. He emphasised that every one silver produced by Hindustan Zinc is offered inside India, underlining the corporate’s deal with native markets.

Anil Agarwal’s silver plans

Agarwal additionally introduced the event of a not-for-profit industrial park in Rajasthan, geared toward fostering downstream industries round zinc and silver manufacturing. This park is anticipated to spice up worth addition to silver, generate lakhs of jobs, and entice a number of companies to Rajasthan’s industrial panorama.