Silver Price Surge: The price of gold has been rising for the last few days. After reaching a record high level on MCX on Friday, December 12, the last day of the week, its prices increased due to profit booking by investors, while a decline in silver was seen during this period.
In this session, at around 9:10 am, MCX Gold February futures contract was seen trading up by 0.10 per cent at Rs 1,32,599 per 10 grams, while MCX futures trade silver for March delivery slipped by 0.50 per cent to Rs 1,97,951 per kg.
Silver reached all-time high
However, a tremendous rise in silver was seen on Thursday. During this period, silver reached its all-time high level of Rs 1,98,814 per kg and closed at Rs 1,98,799 with an increase of 5.33 percent. MCX Gold February contract jumped 2 percent and closed at Rs 1,32,469 per 10 grams. Gold and silver prices are showing strength after the US Federal Reserve cut interest rates by 25 basis points and indicated that they may be cut again next year.
Silver crossed Rs 2 lakh
Today the price of silver has crossed Rs 2 lakh per kg. According to a research report of Kedia Advisory, on November 17, 2005, the price of one kg silver on MCX was Rs 12000. After about 20 years, silver completed this journey of reaching Rs 2 lakh per kg. Today, the price of one kg silver in the country has increased by Rs 2,900 to a new high of Rs 2,00,900, while the rate of 100 grams and 10 grams of silver is Rs 20,090 and Rs 2,009 respectively.
Today the price of one kilogram of silver in Delhi, Kolkata and Mumbai is Rs 1,97,900 per kilogram. At the same time, the price of one kilogram of silver in Chennai is Rs 2,09,900. Last week, the price of silver increased by about 6 percent. At the same time, silver has increased by 115 percent so far compared to last year, due to which it is strong demand in industries, its inclusion in the list of important minerals of America and low inventory.
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