support@headlinenews360.com
Silver Prices Update: The shine of silver has increased strongly in recent times. Be it domestic or global market, a sharp increase in silver prices has been seen everywhere. Recently, in the domestic market, silver has succeeded in crossing Rs 1 lakh per kg, while in the international market, silver has reached a 12-year high of $ 34 per ounce. According to Motilal Oswal Financial Services, the price of silver on MCX can go up to Rs 1.25 lakh per kg.
Why is silver rising?
Since the beginning of 2024, an increase of $ 10 per ounce has been seen in the prices of silver. The rise in silver prices is due to rising tensions in Western Asia and interest rate cuts by the US Federal Reserve Bank. Due to this, silver is being seen as a safe investment just as investment in gold is considered safe. Due to this, the attraction towards silver has increased among investors. Prices have also increased due to increased demand for silver on the occasion of festivals in India. According to Teji Mandi, some estimates are indicating that the price of silver on COMEX may touch $ 40 an ounce by the end of 2024. In April 2011, silver touched a lifetime high of $ 50 per ounce.
increased shine of silver
Silver prices in India have been influenced by economic and global reasons. There was a sharp fall in silver prices during the financial crisis of 2008, although after that there was a sharp recovery. In 2011, in the environment of global instability, a sharp rise in the prices of silver was seen and like gold, it also got the status of safe investment. There has been a sharp rise in the prices of silver during the Corona epidemic.
Silver gave 42 percent return in 2024
In 1981, silver was available at Rs 2715 per kg, which reached Rs 27,255 per kg in 2010 and Rs 63,435 per kg in 2020. This shows that in an environment of instability, the price of silver increases. There has been a 42 percent jump in silver prices in 2020, which is more than the 32 percent return on gold. Silver has given better returns than the stock market.
The rise in silver will continue!
Silver prices are going to continue rising. According to experts, increase in industrial demand, China’s economic relief package, cut in interest rates by the US Federal Reserve will bring good days for silver. According to Motilal Oswal Financial Services, in the medium to long term, investing in silver can give returns equal to or better than gold. In 12-15 months, silver can go up to Rs 1.25 lakh per kg on MCX and $ 40 per ounce on COMEX.
read this also
Dabba Trading: Dabba Trading is back, daily volume reaches Rs 100 lakh crore!
