Silver Rates: At present, the atmosphere is pleasant for gold and silver traders and silver has jumped so much in a day that its rise is surprising. A rise of Rs 5200 was seen in silver in a single day and on Wednesday it reached Rs 95,800 per kg in the bullion market. This rise of Rs 5200 in silver is the biggest rise in one day and is showing the maximum shine in the bullion market.
What is the price of gold and silver today?
In the commodity market, a decline in the prices of gold and silver on Multi Commodity Exchange (MCX) has been seen today. The price of gold on MCX has decreased by Rs 191 and has come to Rs 76325 per 10 grams. At the same time, precious metal silver, which is becoming a hot favourite, is available here at a price below Rs 90,000 per kg. Silver is being sold at Rs 89158 per kg, falling by Rs 603 in its March futures.
Why was there a huge rise in silver on Wednesday?
Amidst the strong global trend and vigorous buying by local jewellers, on Wednesday there was such a tremendous rise in silver that it surprised the jewelers and buyers by rising by Rs 5200. Earlier, a decline in silver was seen for 2 consecutive days. The rise of Rs 5200 in the price of silver in Delhi was recorded as the biggest rise in a day and it reached the level of Rs 95,000 per kg. This jump was seen after two weeks and before this, the biggest one-day increase in the price of silver was recorded on October 21, when it had increased by Rs 5,000. Due to this, silver had fallen by Rs 2700 in the last two days and on Tuesday it closed at Rs 90,600 per kg.
Motilal Oswal Private Wealth’s report on silver
Motilal Oswal Private Wealth (MOPW) has released a report on silver in which it has been said that from the year 1990 to October 31, 2024, silver has shown volatility and has performed more or less like Indian equities. Standard Deviation, in which data from 1990 to October 2024 has been taken on the basis of monthly returns and monthly decline data, in which the return of silver at 26.6 percent is almost equal to the average return of the stock market which is at 26.8 percent. .
opportunity to buy silver
A huge jump in the silver MCX rate was seen on October 29 this year on the occasion of Dhanteras when it crossed Rs 1 lakh. There are still opportunities to buy silver because many commodity experts have already expressed the possibility of a big increase in the average returns of silver in the future and on MCX they have predicted it to go up to Rs 1.25 lakh i.e. Rs 1.25 lakh.
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