Today, Saturday, May 30, a slight increase in gold and silver prices is being seen across the country. According to GoodReturns website, the price of 24-carat gold rose by Rs 10 during early trading hours today. As a result, its price stabilized at Rs 1,57,650. Similarly, the price of silver also increased by Rs 100. After this increase, today the price of one kilogram of silver has reached Rs 2,80,100.
This is an indication that gold and silver prices are once again seeing a strong improvement in the Indian bullion market. Demand for gold and silver as “safe investments” has once again increased amid uncertainties over a potential conflict between the US and Iran, as well as concerns about global inflation.
silver prices
Today, domestic silver prices also recorded a significant rise of up to Rs 5,000 per kg. As a result, the price has now come in the range of Rs 2,80,000 to Rs 2,85,000. However, in some areas of South India like Chennai, the price of silver has reached Rs 2,90,000 per kg.
Why did prices rise again?
According to market experts, the ongoing tension between America and Iran has worsened the market environment in the global markets. There are continuous ups and downs in the stock markets also. As a result, investors are pulling out their capital from equities and reinvesting it in gold and silver to safeguard their assets; This change has greatly supported the prices of these precious metals.