Silver Prices May Stagnate at ₹2.4 Lakh Due to Difficulty in Repeating Recent Rally

Silver prices have been trending positively, but experts warn that the recent sharp rally may be difficult to repeat in the near term. Navneet Damani, Head of Research, Commodities at Motilal Oswal Financial Services, believes silver could move towards ₹3.20, ₹3.25 lakh per kg from its current levels around ₹2.4 lakh. However, he thinks a return to the ₹4 lakh, ₹4.25 lakh zone would require significant disruption or a new industrial use case.

Currently, gold remains the stronger bet, with experts predicting that precious metals will continue moving higher over the coming months. Damani's comments on silver prices come as investors are looking for opportunities in the commodities market.