Gold and silver prices in Delhi may reach historical levels in the next 24 hours.
The continuous increase in the prices of silver and gold is taking both the metals to new levels. In the next 24 hours, the prices of gold and silver can be seen at historical levels. If it is said that in 24 hours the price of silver can reach Rs 4 lakh and the price of gold can reach Rs 1.75 lakh, then it would not be wrong. A day ago, an increase of more than Rs 40 thousand was seen in the prices of silver. Whereas on Wednesday an increase of Rs 15 thousand was seen in the prices.
As per the figures being seen now, only Rs 15 thousand is needed for silver to reach the level of Rs 4 lakh. This means that silver prices may be seen at the level of Rs 4 lakh in the next 24 hours. This situation is not only seen in the Delhi bullion market, but is also being seen in the futures market of the country.
During the trading session, an increase of more than Rs 25 thousand was seen in the prices of silver. Here too, the price of silver can cross the level of Rs 4 lakh on Thursday. Let us also tell you at what level the prices of gold and silver are trading from the country’s capital to the futures market and foreign markets.
Record rise in silver prices
There were no signs of softening in gold and silver prices in the capital on Wednesday. Both precious metals set new records amid weak US dollar and strong buying trend in global markets. Looking at the data of Delhi Bullion Market, silver prices increased by Rs 15,000 or 4.05 percent for the third consecutive day and reached a life time high of Rs 3,85,000 per kg (including all taxes). In the previous session, the price of the white metal rose by a sharp Rs 40,500 to Rs 3,70,000 per kg from Friday’s closing price of Rs 3,29,500 per kg. The special thing is that in the current month, an increase of Rs 1,46,000 has been seen in the prices of silver. On December 31, the price of silver in the country’s capital Delhi was Rs 2,39,000.
Gold also made record
If we talk about gold, its rise is showing no signs of stopping. Even if this rise is not visible like that of silver. In the country’s capital Delhi, gold of 99.9 per cent purity increased by Rs 5,000 or 3 per cent and reached a new peak of Rs 1,71,000 per 10 grams (including all taxes). According to traders, the price of gold stabilized at Rs 1,66,000 per 10 grams on Tuesday. The special thing is that in the next 24 hours, gold prices may see an increase of another Rs 4 thousand and the price may reach the level of Rs 1.75 lakh.
Why did gold and silver increase?
Saumil Gandhi, Senior Commodity Analyst, HDFC Securities, said that gold and silver prices are witnessing a continuous and strong rise, and bullish investors are finding new reasons almost every day, due to which the prices are rising further. Gandhi said that due to increasing geopolitical tensions and persisting trade uncertainties, the demand for precious metals as safe investments has increased, due to which the prices have increased. The dollar index, which measures the dollar’s strength against six currencies, witnessed a decline, which provided further support to international gold prices.
Sona also made record on MCX
On the other hand, there has been a huge increase in the prices of gold and silver on the country’s futures market Multi Commodity Exchange. First of all, if we talk about silver, during the trading session an increase of Rs 26,821 was seen in the price of silver and the price was seen at the level of Rs 3,83,100. However, at 7.10 pm, silver prices were trading at Rs 3,80,750 with an increase of Rs 24,471. This means that 15 to 20 thousand rupees are needed for the price of silver to reach Rs 4 lakh in the futures market. Which can be seen on Thursday.
On the other hand, there has been an increase in the prices of gold. If we look at the data, gold prices have seen an increase of Rs 7,201 per ten grams during the trading session. By the way, at 7:12 pm, the price of gold has increased by Rs 6,392 to Rs 1,64,091 per ten grams. However, it may take time for gold to reach Rs 1.75 lakh in the futures market of the country.
Gold and silver prices in foreign markets
According to FOREX.com, the price of gold increased by US $ 74.57 or 1.44 percent and reached US $ 5,256.35 an ounce. Spot prices rose by US$130.13 or 2.51 per cent during the day and hit a new record high of US$5,311.38 an ounce in global markets. Praveen Singh, Research Analyst, Mirae Asset Sharekhan, said that spot gold prices continued to rise for the eighth consecutive day on Wednesday and reached a new record high of US $ 5,311 an ounce in foreign markets, while the US dollar remained weak. Singh said the dollar fell to a four-year low after disappointing US Conference Board consumer confidence data and signs of a slowdown in employment growth.
Spot prices of silver in the foreign market increased by 0.12 percent to US $ 112.22 per ounce. On Monday, the price of the metal rose by US$14.42, or 14 percent, to a new peak of US$117.73 an ounce. Renisha Chainani, head of research at Augmont, said silver’s rise above US$115 an ounce is a decisive surge in the precious metal’s bullishness, mainly due to the sharp weakening of the US dollar and increasing policy uncertainty.
What could happen next?
Analysts say US President Donald Trump’s easing comments on a weaker dollar and expectations of interest rate cuts under a new Federal Reserve chair have further reduced real yield support for the dollar. Adding to the uncertainty, new tariff threats and concerns over the independence of the Federal Reserve have also increased geopolitical and policy risk premiums, boosting gold and silver prices, Chainani said. Jatin Trivedi, Vice President (Commodity and Currency), LKP Securities, said that the Federal Reserve’s FOMC meeting is starting later today. He further said that interest rates are expected to remain stable at 3.50-3.75 percent, but the market’s eyes are fixed on Fed Chairman Jerome Powell’s statement on the outlook for 2026.