Silver Rate Today: There is a fall in the price of silver on the morning of Diwali on 20th October. It has come to Rs 171900 per kg. The price of silver has come down by Rs 8000 in a week. In Delhi’s bullion market, the price of silver fell by Rs 7,000 to Rs 1,70,000 per kg on Dhanteras. From last Dhanteras to this year’s Dhanteras, silver has become costlier by Rs 70,300 or 70.51 percent. Let us know what is the rate of silver in 10 big cities of the country…
Demand for silver was more than gold on Dhanteras
Consumer demand for silver overtook gold on Dhanteras. Sales of silver coins registered an annual increase of 35 to 40 percent, while the total value more than doubled. Silver prices in the international markets fell by more than 6%, which is considered to be its biggest fall in the last six months. After the recent sharp rise in the price of silver, investors booked huge profits on Friday.
The “supply shortage” that has been going on for the last two weeks in the London silver market is now gradually reducing. On October 9, i.e. just a week before Dhanteras, the London silver market reached its biggest crisis ever. In London, suddenly there was no liquidity in the market, that is, there was a shortage of sellers. This caused panic and the cost of borrowing silver increased by 200% overnight. To avoid this risk, big banks started withdrawing from the market. As a result, there was a huge difference between the bid and ask prices, which almost brought trading to a halt.