The record breaking rise in Silver Prices still continues. In the last few months, the prices of silver have increased from double to three times, due to which the focus of investors as well as industry and recycling companies has increased on it. Meanwhile, MMTC-PAMP has taken a big decision to start silver recycling. According to media reports, the company will start silver recycling in its stores on a pilot basis, which may start from Delhi in the next three months. MMTC-PAMP already has 20 gold recycling stores, which will also be used for silver, and plans to double their number in five years. Due to rising prices, recycling has now become economically viable. On the other hand, the demand for silver in solar energy, electronics, medical devices and EVs is increasing rapidly. Global supply deficit and India being the largest silver consumer is making scrap silver extremely valuable.
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