There are no signs of decline in gold and silver prices. Especially the prices of silver are showing no sign of stopping, the prices are increasing significantly every day. The speed of increase in the price of silver can be gauged from the fact that in just two trading days this week, 1 kg of silver has become costlier by more than Rs 32,000. On the other hand, the price of gold is also continuously increasing.
The rising trend of silver continues
Talking about the increase in silver prices, it has increased by Rs 32,187 per kg in two days. On the last trading day of last week, the futures price of 1 kg of silver had closed at Rs 2,87,762, while on Tuesday, the silver price opened at a new all-time high of Rs 3,19,949 on the Multi Commodity Exchange (MCX). At the time of writing, silver was trading with a gain of Rs 7,000 on MCX.
Even gold is not stopping
Not only silver, gold too is showing no signs of stopping. MCX gold rate also increased by Rs 2500 in one go upon opening. If we look at the change in gold prices in two trading days, 10 grams of 24-carat gold with expiry of February 5 has become costlier by Rs 5,479. Actually, this yellow metal had closed at Rs 1,42,517 last Friday. When trading began in the commodity market on Tuesday, gold opened at Rs 1,45,500, slightly lower than its previous closing futures price of Rs 1,45,639 per 10 grams, but then recovered from the initial fall to hit a new all-time high.
Gold and silver shine amid global tension: Regarding the reasons behind the sharp rise in gold and silver rates, Donald Trump has once again stoked the tariff tension, which has increased global tension. In this situation, investors have once again chosen gold and silver as safe investments, due to which the demand and prices of both have increased. Additionally, volatility in the currency market has also contributed to the rise in prices.