New Delhi, Feb. 16 -- Silver's bull run that came to an abrupt halt towards the end of January has brought prices almost 40% lower from their all-time high of Rs.4,20,000 on the Multi Commodity Exchanges.

What most investors don't realise is that to reclaim this level, the MCX silver rate would need to surge a whopping 75% this year from the current level of around Rs.2,40,000 per kilogram. That is no mean feat, especially considering prices had already jumped 170% last year, with the rally running ahead of fundamentals and pushing prices to unsustainable highs.

Silver prices have multiple structural support like years of supply deficits, robust industrial demand from sectors like solar PV, EVs, electronics, and growing investor flows i...