As silver touched an all-time high of Rs 1,77,000 per kg earlier this week, Value Research CEO Dhirendra Kumar warned that the white metal's sharp rally is veering into speculative territory.

"Silver has proved to be a dark horse. Everybody talks about gold. Gold has an unusual demand and relevance in our context and traditions. But this time round, silver is stealing the show," Kumar said in a podcast conversation released on Friday. Advertisement

He noted that the rally is not merely driven by sentiment but by industrial demand. "It's just not a precious metal, it's an industrial metal. What we have seen is that EVs, solar panels — everything in the modern economy, 5G equipment, the semiconductors — the electric cars consume about 50 gram of silver. That has led to this (rally). This

See Full Page