Silver is creating havoc in Delhi markets. The special thing is that for the second time in the current week, an increase of Rs 6 thousand or more has been seen in the prices of silver. Due to which the price of silver has increased to Rs 1.63. The main reasons for the increase in silver prices are increase in industrial demand and geopolitical and economic uncertainty. On the other hand, the Fed may announce a cut in interest rates in the coming days. Due to which silver prices seem to be getting support. On the other hand, no change has been seen in the prices of gold in Delhi. Due to which gold prices have remained at a record level above Rs 26 thousand. Let us also tell you what the price of silver has become in the country’s capital Delhi.
Record rise in silver prices
In the country’s capital Delhi, the price of silver increased by Rs 6,000 on Thursday and reached a new record level of Rs 1,63,000 per kg. Its purchases increased as a safe investment in the global market amid geopolitical, economic uncertainties and expectations of interest rate cuts by the US Federal Reserve. This is the second time within a week there has been such a sharp rise in silver. On October 6, it had risen by Rs 7,400 to reach Rs 1,57,400 per kg. Due to which an increase of Rs 13 thousand has been seen in the prices of silver in the current week. On the last trading day of last week, silver prices were seen at Rs 1.50. If we talk about the current year, an increase of 73,300 i.e. 82 percent has been seen in the prices of gold. On the last trading day of last year, the price of silver was seen at Rs 89,700. According to All India Bullion Association, at the end of trading on Wednesday, the price of silver was seen at Rs 1,57,000 per kg.
No change in gold prices
On the other hand, no change was seen in gold prices in Delhi. In the local bullion market, gold of 99.9 per cent and 99.5 per cent purity remained unchanged at its all-time high of Rs 1,26,600 and Rs 1,26,000 per 10 grams (including all taxes) respectively on Thursday. However, in the current month, an increase of Rs 6600 has been seen in the prices of gold. In the current year, an increase of Rs 47,650 per ten grams has been seen in the prices of gold. On the other hand, at the global level, spot gold fell marginally to $ 4,039.26 an ounce, while silver increased by more than one percent to reach a high of $ 49.67 an ounce.