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Silver's upward trajectory is fueled by robust fundamentals, including heightened industrial demand and geopolitical uncertainties. As prices rally towards ?95,000, investing in silver for the medium to long term remains a safe and promising option.

The surge in silver prices has been remarkable today prices tested the 82849 level on MCX, with the metal poised to test ?95,000 in the medium to long term, possibly even reaching ?1 lakh soon. This rally has been fueled by a convergence of factors, including firmness in gold prices, which have been supported by central bank buying and anticipation surrounding the U.S. Federal Reserve's policy meeting minutes and inflation data. Additionally, economic data points, geopolitical tensions, and market-specific dynamics have contributed to the upward trajectory of silver prices.

Notably, silver has been bolstered by a resurgence in industrial demand, particularly from China, as the Chinese economy shows signs of improvement. Moreover, India's silver imports skyrocketed by 260% in February, reaching a record high, fueled by lower duties and large purchases from the United Arab Emirates.

With the ongoing Geopolitical uncertainties, such as the Russia-Ukraine conflict and tensions in the Middle East, have increased market volatility, driving demand for silver as a safe investment. Furthermore, the bullish outlook for silver is supported by robust industrial demand in sectors like electronics, solar energy, and healthcare.

Technical indicators suggest a strong momentum for silver, with positive Chinese service PMI data and a closely correlated movement with gold prices. The gold-silver ratio also reveals insights into future price movements, enhancing silver's attractiveness to investors.

Given these factors, investors are advised to consider adding silver to their portfolios, particularly on dips towards 75/76000 is preferred to take fresh entry. The medium to long-term upside potential towards ?95,000 and beyond presents a compelling opportunity for investors seeking exposure to precious metals this year.

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