Silver prices have almost doubled in Delhi in the current year.
There was a tremendous rise in the prices of gold and silver in the country’s capital Delhi on Monday, but the feat that silver has done will happen in the year 2025. Even silver has not done that till date. This is the first time that before the end of a year, silver prices have doubled as compared to the previous year. Due to the increase seen in Delhi on Monday, the prices of silver have increased by almost 100 percent in the year 2025. The special thing is that the price of silver did not cross Rs 1.75 lakh in one go. In fact, they have also moved forward rapidly for Rs 2 lakh. Now it seems that if a similar rise is seen in the prices of silver, then by Dhanteras or rather Diwali, the prices of silver will cross the level of Rs 2 lakh.
According to experts, the physical demand for silver is very high. But there is a huge shortage in supply. Due to increase in industrial and festive demand, silver prices are increasing. At the same time, due to American tariff war, geopolitical tension and possible cut in interest rates by the Fed, silver prices are increasing. If experts are to be believed, further increase in silver prices may be seen in the coming days. Let us also tell you what the price of silver has become in Delhi bullion market.
There was a tremendous rise in the price of silver
There was tremendous growth in the Delhi bullion market on Monday. If we look at the data, an increase of Rs 7,500 per kg has been seen in the prices of silver. After which the price of silver crossed the level of Rs 1.75 lakh and came to Rs 1,79,000. Whereas on the last trading day i.e. Friday, silver prices had closed at Rs 1,71,500. The special thing is that this is the fourth such occasion in the month of October when an increase of 6 thousand or more has been seen in the prices of silver. On October 6, an increase of Rs 7,400 was seen in the prices of silver. After that, on October 9, an increase of Rs 6 thousand was seen in the prices of silver. After that, on October 10, the price of silver increased by Rs 8,500. Such a huge rise in silver prices may be seen even more in the coming days.
Silver prices doubled in 286 days
The special thing is that till October 13, 286 days of the current year have passed. During this period, the prices of silver have almost doubled. On the last trading day of last year, silver prices were at Rs 89,700. Which has reached Rs 1,79,000 on Monday. This means that in these 286 days, an increase of Rs 89,300 i.e. 99.55 percent has been seen in the prices of silver. This means that the prices of silver in Delhi have doubled in the current year. If we talk about the month of October, the last trading price of silver of last month was at Rs 1,50,500. In which till now an increase of 28,500 i.e. 19 percent has been seen. According to experts, this is not a normal rise. This kind of increase in silver prices has been seen after many decades.
Prices will reach up to Rs 2 lakh by Diwali
Diwali is on 20th October. It is Monday. Delhi bullion market will also be open on this day. Experts believe that an increase in silver prices may also be seen on the day of Diwali. In such a situation, silver will need an increase of Rs 21 thousand to reach Rs 2 lakh in the next 6 days. This means that by Diwali, we may see an increase of up to 11 percent in silver prices. Experts believe that the rise in silver prices is not going to stop till the festive season. It will not be a big deal if the price of silver touches the magical figure of Rs 2 lakh by Diwali.
State of the country’s futures market
If we talk about the country’s futures market Multi Commodity Exchange, the silver race is going on. By the time the market closed on Monday, the price of silver increased by Rs 8,179 and closed at Rs 1,54,645 per kg. Whereas during the trading session the price of silver reached Rs 1,55,093 per kg. In the current month, an increase of Rs 12,500 has been seen in the price of silver. Last month, on the last trading day of the month, the price of silver on MCX was Rs 1,42,145. This means that the price of silver has seen an increase of about 9 percent during this period. If we talk about the current year’s rise in the futures market, then on the last trading day of last year the price of silver was seen at Rs 87,233 per kg. Since then, it has seen an increase of 77.28 percent i.e. Rs 67,412 per kg.