Will Silver Replace Gold in the Market as Gold Prices Surge? Experts Weigh In

ISLAMABAD, PAKISTAN:– In recent years, the price of gold has seen a significant increase, largely driven by central banks purchasing more gold to stabilize their economies amid global uncertainties. This surge in demand has led to gold prices surpassing 3 lakh rupees, marking an all-time high in Pakistan’s history.

With gold prices soaring, some experts are predicting a shift towards silver, particularly due to its lower cost and increased use in various industries. Silver’s affordability compared to gold is making it an attractive option for investors and consumers alike. But the big question remains: Can silver truly replace gold in the market, or is it just a temporary substitute?

**Silver Market Growth Expected Amid Rising Demand**

According to **Andullah Chand**, a member of the All Pakistan Gold Association, the rising gold prices are already having a noticeable effect on the silver market. “With gold prices increasing, we are seeing a growth in silver business as well,” Chand said. He further noted that silver’s use in technology is also on the rise, making it more valuable. “Silver is in demand globally, just like gold, but its supply remains limited,” he added.

Chand explained that silver is now being used in electric vehicles, solar energy, electronics such as computers, laptops, and mobile phones. This growing industrial demand is expected to push silver prices higher in the future.

**Technological Shift and Increased Demand for Silver**

As technology continues to advance, the use of silver is becoming more prevalent. “New inventions and innovations are driving the demand for silver,” said Chand. “Electronics, electric vehicles, and even solar energy systems are incorporating silver in their production, which means the demand for silver will continue to rise.”

With the increase in gold prices, many consumers are also shifting towards silver as a more affordable alternative. “In the coming years, silver’s demand is expected to rise significantly,” Chand predicted.

**Gold and Silver: Two Very Different Metals**

Senior journalist **Raja Kamran** pointed out that there is a fundamental difference between gold and silver. “Gold is a highly valuable and premium metal, and one of the most expensive metals in the world,” Kamran explained. “There is no doubt that there are metals more expensive than gold, but their supply is limited, and they cannot be used as reserves.”

**Central Banks Prefer Gold Over Silver**

Kamran also highlighted that central banks around the world prefer gold, especially in times of economic uncertainty. “The US dollar has long been the global reserve currency, but as trade wars have escalated, central banks are now increasing their gold reserves to hedge against potential risks to other currencies,” he said.

**Silver Will Never Replace Gold**

Despite silver’s rising popularity, Kamran remains firm in his belief that silver will never replace gold in the market. “Silver is not as efficient as gold in industrial applications,” he said. “Gold is used extensively in industries, particularly in electronics, where even the smallest circuit requires gold for conductivity.”

Kamran further added that while silver may continue to rise in demand, it will never replace gold’s essential role in industries and as a store of value. “Gold is simply a more valuable and scarce metal,” he concluded.

**Gold’s Demand Will Always Remain Strong**

Mohammad Saad, a retailer involved in the gold and silver business, also expressed his views on the matter. “No matter how expensive gold gets, it will always remain in demand,” he said. “While some people who can’t afford gold are turning to silver or artificial jewelry, the demand for gold will always persist because it is a rare and limited resource, unlike silver.”

Saad emphasized that there is no true substitute for gold in the market. “Gold is bought as a reserve, and even if its price rises, people will still try to acquire it because of its unmatched value,” he said.

**Conclusion: Gold’s Unique Role Remains Unchanged**

In conclusion, while silver may see increased demand as an affordable alternative due to rising gold prices, experts agree that it will never fully replace gold’s critical role in the global market. Gold’s unique properties, industrial uses, and historical significance as a store of value ensure that it will continue to command a dominant position in the world economy for years to come.