Can silver overtake gold? Vedanta's Anil Agarwal tweets on surging demand

Silver prices are skyrocketing in India, with rates crossing Rs 1 lakh per kilogram. Demand has doubled compared to last year, driven by both traditional uses and an increasing need in high-tech industries.

Silver is now extensively used in solar panels, electric vehicles (EVs), advanced healthcare, and electronics. Its role in renewable energy, particularly in solar technology, has made it a critical mineral for the future.

Anil Agarwal, Chairman of Vedanta Group, tweeted about this trend, stating, "This combination of being precious and functional is rare, and the demand-supply gap is increasing. It is the new critical mineral of the future."

Agarwal also highlighted Vedanta's sustainable silver production efforts at Hindustan Zinc, where the refinery is fully powered by solar energy. He mentioned that the company has become one of the largest silver producers in the world and aims to sell its entire production within India.

Additionally, Agarwal pointed to Vedanta's not-for-profit industrial park for zinc and silver in Rajasthan, which aims to attract downstream industries for value addition and create lakhs of jobs.

As silver’s industrial demand grows and its prices rise, there is increasing speculation about whether silver could eventually surpass gold in value.