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With fast-growing industries of solar panels and electric vehicles driving the demand for silver, the price of the industrial metal is seen surging to Rs 1 lakh a kg in the next one year and up to Rs 92,000 per kg within the next 3 months.“Silver being an industrial metal, may benefit from upside in base metals and bullish sentiments in emerging market equities. So, we expect silver to trade with a positive bias benefiting from enhanced industrial applications. Hence, an extended slowdown in the Chinese economy is one of the major risks to our outlook. Silver prices may trade in a range of Rs 75,000 – 92,000 in the next 3 months,” said Kaynat Chainwala, Senior Manager of Commodities Research at Kotak Securities.In the longer term, brokerages like Motilal Oswal see the metal rallying to fresh peaks of Rs 1 lakh. Over the last 15 days alone, silver prices on the MCX have seen a stellar rally of more than Rs 7,000 per kg.“Prices now can be seen trading in a rising channel with constant higher top and higher bottom formation and presently hovering around Rs 87,200/kg levels. We expect an upside of Rs 90,000-91,000/kg in the coming weeks where any dip around Rs 85,500/kg would provide an opportunity to add more quantity in the long positions,” said Ashwani Harit, Commodities Analyst, Religare Broking.Also read: Silver prices hit all-time high of Rs 87,476, jump Rs 6,600 in May so farProspects of a soft landing in the US and broader applications in the clean energy sector could mean more upside for silver prices in the coming months compared to gold. According to a recent report by the International Energy Agency (IEA), global investment in solar PV manufacturing, a major demand driver for silver, more than doubled last year to around $80 billion, constituting approximately 40% of global investment in clean technology manufacturing.Comex and MCX Silver posted gains of 2.7% and 4.4%, respectively in this week so far. Comex silver prices breached the crucial $30/oz mark, for the first time since 2013 and MCX prices hit an all-time high, driven by optimism regarding stimulus for property markets and mounting expectations of a rate cut in September. “Traders should be prepared for a potential surge in silver prices, especially upon breaching the crucial threshold of $30 in the international market. Our analysis strongly suggests that if silver manages to sustain its position above the $30 benchmark, it could see a fresh bull run of 7-10%,” stated Rahul Kalantri, VP - Commodities at Mehta Equities.Conversely, failure to secure a close above $30 might see downward pressure, potentially leading to corrective movements towards the $28.50 and $27.90 levels. On MCX, the critical level lies at the 88,550 level, which stands as a pivotal make-or-break point for silver, Mehta added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

UK Prime Minister Rishi Sunak is expected to announce a crackdown on agents marketing graduate visa schemes overseas, aiming to project a tough stance on migration before this year’s general elections. This comes after UK's university regulator warned of severe financial strains on institutions due to a decline in international student numbers.According to a Financial Times report, the new measures, anticipated to be revealed next week, will coincide with the release of quarterly migration data from the Home Office and the Office for National Statistics. The crackdown could involve mandatory registration for agents and fines for malpractice.Sunak is also considering stricter criteria for the graduate visa scheme, potentially limiting visas to the "best and the brightest." However, this approach has not yet been formally discussed with ministers. This proposal faces resistance from Chancellor Jeremy Hunt and Education Secretary Gillian Keegan, who worry about the financial impact on universities if international student numbers drop further.The decision on whether to limit the scheme to top-tier students is expected to depend on upcoming net migration figures. Keegan supports measures to prevent system abuses by agents but opposes limiting access based on student quality or degree type. “This can’t all be about PPEs from Oxford,” she said.What the MAC report saidThe UK government’s independent migration adviser recently recommended maintaining the current visa scheme, which allows international students to stay for two years post-graduation. Despite this, Sunak plans to introduce measures targeting international agents amid pressure from his party to reduce legal migration ahead of the general elections. The Migration Advisory Committee’s report highlighted issues with some recruitment agents and suggested tighter regulation, including mandatory registration and transparency in university spending on these agents.A British government report highlights the Graduate Route visa's vital role in supporting universities financially and enhancing the UK's research landscape. In 2023, 114,000 Graduate Route visas were issued, primarily to nationals from India, Nigeria, China, and Pakistan. The majority of visa holders were postgraduate students from non-Russell Group universities. Despite concerns about exploitation by recruitment agents, the Migration Advisory Committee (MAC) emphasized the visa's positive impact. Businesses warn against crackdownHowever, universities and businesses caution against overly restrictive measures, arguing that the focus on elite students is misguided. Multinational companies investing in the UK have raised concerns that the government's migration policy could weaken cutting-edge research and innovation, as well as the talent pool they depend on for recruitment. In an open letter, these firms expressed alarm over reports of increasing research and teaching funding gaps and significant declines in international student applications due to government policy.“We are deeply concerned by reports of growing research and teaching funding gaps, as well as sharp declines in international student applications as a result of government policy,” the letter stated. “This not only risks undermining the positive impact that international students have on our skills base, future workforce, and international influence, but also reduces the funding that universities have available for their wider activities, including research and collaboration with industry.”The letter further warned that financial pressures over time could erode one of the UK's greatest strategic strengths, with broad implications for businesses, the economy, and society. Signatories included senior executives from German industrial giant Siemens, French defence company Thales, mining companies Anglo American and Rio Tinto, utility Severn Trent, and energy companies EDF and Neptune.The executives urged that no changes to graduate visa routes be made "without a detailed and comprehensive review of the consequences."109246767