Due to ongoing trade policy uncertainties and geopolitical tensions, silver has surged to a 14-year high on global markets and reached an all-time high on Indian domestic markets. The precious metal recently achieved a decisive technical breakout, trading above the key level of $37.5 per ounce.

In the first half of 2025, global investment in silver has increased sharply. This uptrend has been fueled by a combination of geopolitical uncertainties—including regional conflicts and unstable trade agreements—and economic concerns such as persistent inflation fears and currency volatility. Investor sentiment has also been strengthened by strong price expectations and silver’s reputation as a reliable hedge against economic and political risk.

In June, this wave of demand pushed silver prices to a 13-year high, marking a significant milestone for the metal. Over the first six months of the year, silver prices recorded an impressive rise of 25%, nearly mirroring gold’s 26% gain over the same period. Earlier in the year, the gold-to-silver ratio was at historically high levels, making silver look undervalued relative to gold and prompting fresh buying from institutional and retail investors alike.

Beyond investment-driven demand, positive developments in industrial metals also played a role in silver’s rally. Renewed trade negotiations between the United States and China improved market sentiment, leading to expectations of stronger industrial demand for silver in electronics, photovoltaics, and other sectors. This combination of financial investment and anticipated industrial use has reinforced silver’s upward momentum in global markets.

Overall, silver’s performance in the first half of 2025 reflects its dual role as both a precious metal and an industrial commodity, benefitting simultaneously from safe-haven demand and optimism about global manufacturing recovery. If these trends continue, analysts suggest silver could see further gains in the second half of the year.

Sukkhi, one of the leading curators of high quality fashion jewellery in India, announced the launch of its new store in Mumbai at the bustling fashion street of Dadar. Understanding the growing demand for fashion jewellery in the country, the brand’s 4th retail outlet in Mumbai is an extension of its vision of being a strong force in the category of fashion jewellery market in India. The store opening is part of a larger plan by Sukkhi to establish 100 retail touchpoints over the next 18-24 months.

Bhavesh Navlakha, founder and CEO of Sukkhi, said, “Opening our 4th store within four months shows our unwavering commitment towards making fashion jewellery affordable and accessible to all. Mumbai is a cosmopolitan fashion market where families invest in precious jewellery and gold yet have a distinct flair for fashion jewellery.” He also shared that the brand is steadily working towards growing its offline presence through a phased retail rollout.

Blending Indian craftsmanship with modern design, Sukkhi’s exclusive brand outlet offers a carefully curated jewellery collection. It features necklaces, chokers, rings, and 925 silver pieces. The selection includes pieces from Pissara, Studio Sukkhi, Scintillare, and the newly launched Ayles collection. Together, they cover everything from everyday wear to festive and wedding jewellery.

Founded in 2012 by Bhavesh Navlakha, Sukkhi started with the vision to provide high-quality multi-category jewellery for every occasion by establishing itself as a digital-first brand. Today, the brand is one of the top sellers on platforms like Nykaa, Ajio, Myntra, Flipkart, Amazon, and Naaptol, etc., making it one of the most sought after brands when it comes to fashion jewellery for all seasons and reasons.

This retail expansion is perfectly timed to capitalize on the booming Indian fashion jewellery market, which is witnessing remarkable growth according to a recent Techavio report. The surge is fueled primarily by Millennial women aged 26 to 41, dynamic professionals with active social calendars and increasing disposable incomes. This group regularly seeks out versatile and affordable accessories to effortlessly elevate their looks for various occasions. As grooming standards evolve and the demand for stylish yet budget-friendly jewellery rises, costume pieces have become an essential part of everyday wardrobes. Sukkhi’s ongoing offline rollout is in line with this evolving consumer demand and reflects the brand’s focus on improving accessibility and visibility in key markets.

With four stores already operational in Mumbai, Sukkhi’s retail strategy is taking shape as a natural extension of its strong digital presence. The brand plans to continue this momentum with a structured retail expansion across other cities as well.

• President Donald Trump indicated plans to impose blanket tariffs of 15–20% on the majority of foreign trading partners and declared a 35% tariff on Canadian goods beginning August 1. Additionally, President Trump announced this week in a letter to Brazil that the nation will be subject to a 50% duty on commodities imported into the United States.
• Concerns about longer-term inflation expectations were also aroused by Trump’s demand for a 300-basis point reduction in the Fed funds rate, which stoked rumours of a dovish Fed nominee the following year. Markets have priced in two rate cuts this year, but rate futures indicate that a hold is likely to be agreed upon at the next meeting.

Technical Triggers  

• Gold continues to trade in the range of $3300 (~Rs 96250) and $3400 (~Rs 98500). If prices sustain below $3280 (~Rs 96000), weakness could further extend to $3200 (~Rs 94000).
• Silver has given a breakout of its range of $37.5 (~Rs 108,500) and $35.5 (~Rs 105,000). The next target is $38 (~Rs 111,000) and $40 (~Rs 115,000).

Support and Resistance