Gold Silver Rate: On Thursday, there was a tremendous rise in silver prices in the bullion market of the national capital Delhi. Silver rose by Rs 2,000 to reaching its highest level of Rs 1,04,100 per kg so far. This is the fourth consecutive day when silver prices have risen.
Strong global trend and limited supply effect
According to experts, this boom has come due to strong demand, limited supply and inflation prevention strategy in the international market. HDFC Securities analyst Saumil Gandhi said that silver prices have gone up rapidly due to industrial demand and lack of global supply.
Gold also shines 430 rupees
Along with silver, gold has also become expensive. 99.9% purity gold rose by Rs 430 to Rs 99,690 per 10 grams, while 99.5% purity gold rose by Rs 400 to Rs 99,100. Due to weakness in the dollar and global uncertainty, this jump in gold prices was seen.
A boom atmosphere in foreign markets too
Gold and silver prices also topped the international markets. The spot gold rose by nearly $ 21.58 to $ 3,393.93 an ounce, while silver rose around 4% to $ 35.80 an ounce. This shows that investors worldwide are relying as safe investment in gold and silver.
The price boom in Indore too
Gold and silver prices were also seen in Indore city of Madhya Pradesh. Gold rose by Rs 850 to Rs 98,000 per 10 grams, while silver rose by Rs 3,300 and reached Rs 1,02,500 per kg. The price of silver coin was recorded at Rs 1,150 per piece.