During the Bhogi festival, gold and silver prices have surprised buyers. The price of 24-carat gold rose by ₹1,090, reaching ₹1,43,620 for 10 grams. Similarly, 22-carat gold increased by ₹1,000 to ₹1,31,650. Notably, gold prices have been rising for the past five days.
Silver prices have surged even higher during the Sankranti festival. The price per kilogram of silver climbed by ₹15,000, setting a record at ₹3,07,000. On January 1, silver was priced at ₹2,56,000 per kilogram. The increase of ₹51,000 in just two weeks showcases the rapid rise in silver prices. Internationally, silver traded at 88.37 dollars per ounce, marking the highest level ever. Over 13 months, silver increased by 210%, surpassing other precious metals like gold and platinum.
Trade tensions between the US and China, inflation, and fluctuations in the prices of precious metals have significantly impacted silver prices. Changes in the dollar index, Federal Reserve interest rates, and bond yield variations also affect global silver value. International instability, the arrest of Venezuelan President Nicolas Maduro, the Iran crisis, and decisions by Trump are influencing silver price volatility. Experts believe investors are turning to silver as a safe asset and due to increased industrial demand. The supply-demand gap in major silver-producing countries like Mexico, China, and Peru further contributes to the sharp rise in silver prices.
