Gold, Silver Prices Soar in India Amid Rising Demand
Gold and silver prices have surged in India on 18 September, according to the India Bullion and Jewellers Association (IBJA). The price of one kilogram of silver has increased by ₹6,474 to ₹2.36 lakh.
The price of 10 grams of 24-carat gold has risen by ₹1,809 to ₹1.54 lakh. This marks a significant increase from the previous day's prices, where gold was priced at ₹1.52 lakh and silver at ₹2.30 lakh.
Anindya Banerjee, Senior Vice-President and Head of Commodity Research at Kotak Securities, believes that gold has widespread support among ordinary investors and central banks, including the Reserve Bank of India, which continue to purchase gold.
Looking ahead, Banerjee predicts that gold prices could reach ₹1.70 lakh by December, while silver prices may surge to ₹3 lakh under improved conditions.