Silver prices have reached record highs, exceeding $86 per ounce globally and Rs 2,70,000 per kilogram domestically. Analysts suggest a crash is unlikely, but a period of consolidation or correction is possible due to profit-booking after a rapid rally. While technically stretched, underlying buying interest is expected to re-emerge near support zones. The rally is driven by silver's dual role as a precious metal and an industrial commodity, benefiting from the energy transition and safe-haven demand.