India's stock market reached record highs on June 5, 2025, with the BSE index rising nearly 3%. Defence sector stocks experienced notable gains, led by Cochin Shipyard, which surged over 12% and has doubled in value since its February lows. Concurrently, silver prices in India hit an all-time high, reaching ₹1.04 lakh per kilogram, and continued to rise to around ₹1.07 lakh per kilogram the following day. This surge in silver prices positively impacted related stocks, such as Hindustan Zinc, whose shares rose by 6%. Globally, silver prices (tracked by the SLV ETF) reached 13-year highs, with market analysts highlighting a potential breakout that could lead to new decade highs. The rise in silver is attributed to strong industrial demand and soaring gold prices, alongside a reversal in the gold-to-silver ratio. Market observers suggest that silver may be entering the early stages of a new secular bull market. Other precious metals also showed strength, with platinum reaching its highest level in over two years and palladium experiencing notable volatility and significant price moves. Despite gold prices stalling, the focus has shifted to silver and platinum as attractive investment options in the commodities market.