Silver Soars as Industrial Demand and Global Market Signals Drive Up Prices

Silver futures surged by Rs 2,670 to reach Rs 2.19 lakh per kilogram on Tuesday, as optimism over industrial demand and conflicting signals from global markets drove up prices.

The white metal for September delivery increased by 1.23% at the Multi Commodity Exchange, following gains in overseas markets where US President Donald Trump hinted at 'last chance' talks with Iran to end a five-month war.

'Silver edged higher as investors weighed conflicting signals over possible talks between Washington and Tehran,' said Renisha Chainani, Chief Research Officer at Augmont.

The upside move in silver was also attributed to stronger-than-expected US manufacturing data, which showed July factory activity expanding at its fastest pace in more than four years.