New Delhi, 06 January (H.S.): Domestic silver prices have surged sharply in Indian markets due to escalating tensions between the United States and Venezuela. The precious metal rose by up to ₹1,100 per kilogram across most major jewelry markets today, with Chennai and Hyderabad witnessing a jump of ₹9,200 per kilogram.

As a result, silver is currently trading between ₹2,47,900 and ₹2,66,100 per kilogram in various parts of the country.In Delhi, silver prices climbed by ₹1,100 to reach ₹2,48,100 per kilogram. Mumbai, Ahmedabad, and Kolkata saw silver trading at ₹2,47,900 per kilogram, while Jaipur, Surat, and Pune recorded prices at ₹2,48,200 per kilogram.

Bengaluru’s silver price stood at ₹2,48,400 per kilogram, and Patna and Bhubaneswar saw rates at ₹2,48,000 per kilogram.Hyderabad’s silver price rose by ₹9,200 to ₹2,66,000 per kilogram, but Chennai remains the highest, with silver reaching ₹2,66,100 per kilogram—a jump of ₹9,200.

Over the past ten days, silver prices have witnessed significant volatility. On December 28, Chennai’s silver price had touched an all-time high of ₹2,75,000 per kilogram. However, profit booking led to a drop of ₹20,000 last week, bringing prices down to ₹2,55,000 per kilogram.

Now, with renewed geopolitical tensions, silver prices have spiked again.Tarakeshwar Nath Vaishnav, CEO of TNV Financial Services, said that investor interest in gold and silver has surged in global markets due to the US-Venezuela crisis.

Investors are turning to these metals as safe-haven assets, increasing demand. Over the past two days, supply in the London silver market has dropped by nearly 30%, pushing international silver prices to $78.74 per ounce.

Experts warn that if the US-Venezuela tensions persist, international silver prices could climb to $90–$95 per ounce, which would further impact Indian markets.

Hindusthan Samachar / Jun Sarkar