Gelonghui May 17| Data shows that Indian silver prices have increased by more than 5% in just one month, with an annualized increase of 60%. Prithviraj Kothari, managing director of gold trader RiddiSiddhi Bullions in Mumbai, India, said the surge in prices has already occurred in Mumbai.dragonquestnftThe Zaveri market in the city triggered a wave of household silver selling. People are selling gold bars, coins and silverware in exchange for cash in the hope of fully capitalizing on this bull market. Silver prices soardragonquestnftOne reason is that slowing inflation in the United States has led to market expectations that the United States may cut interest rates in September. In addition, analysts also attributed the surge in silver prices to increasing industrial demand for silver from manufacturers of electric vehicles and photovoltaic solar panels. Market participants believe that silver prices still have great potential to continue to rise. Jateen Trivedi, vice president of research at Indian brokerage LKP Securities, said that demand for silver remains strong, especially in the electric vehicle and photovoltaic industries, as consumption of electric vehicles continues to rise, driving a bullish trend in the silver market.
