As soon as the commodity market opened today, both gold and silver are racing at the speed of a superfast train. Silver is seeing a greater increase than gold. This is a long time coming. Such a rise was previously seen during the festive season. Let’s find out what experts are saying about this and what you should do.
As soon as the commodity market MCX opened, gold (Gold Price Today) and silver (Silver Price Today) witnessed a sharp rise. This rise has been seen after many days. But what happened suddenly that caused gold and silver (Silver Price Hike) to rise at such a speed? Gold and silver had been softening since the festive season. But everyone is surprised to see such a sudden increase in both. Let’s find out the reason behind this from the experts.
We spoke with commodity expert Ajay Kedia about this. Let’s find out what he said about the rise.
Silver Price Hike: Why is silver so high?
Commodity expert Ajay Kedia has cited several reasons for the rise in silver prices:
- Silver reached above $49 per ounce in the international market, its highest level in three weeks.
- The primary reason for this increase is that the dollar is weakening, and this increase has been recorded due to demand for safe investments.
- The US Consumer Price Index fell to a low of 50.3, its lowest level on record.
- According to data, 153,000 jobs were lost in the US in October. This is the worst data in 22 years for the US.
- In addition, two different perspectives are being seen regarding the Fed rate cut in December.
What is the price of silver?
At 1:05 pm on MCX, silver is trading at ₹151,841 per kg. It has increased by ₹4,113 per kg. So far today, silver has touched a low of ₹149,540 per kg and a high of ₹151,969 per kg.
8th Pay Commission Latest Update : Huge salary and pension hike expected by Diwali 2027
