Silver Price Surges ₹10,000 in One Week Amid Market Fluctuations
The price of silver has surged by ₹10,000 in just one week, causing confusion among investors and buyers. This rapid fluctuation is due to both domestic and global factors that influence gold and silver prices in India. According to the Indian Bullion Jewellers Association, the price of silver has fallen by more than ₹12,000 over the past 20 days.
The current price of one kilogram of silver stands at ₹240000 in major cities across India, including Delhi, Mumbai, Ahmedabad, Chennai, Kolkata, Hyderabad, Jaipur, Bhopal, Lucknow, and Thiruvananthapuram. However, the price has increased by ₹5,898 per kilogram since July 17, when it closed at ₹2,16,403 on the Multi Commodity Exchange (MCX).
Experts believe that buyers and investors should keep an eye on the latest rates due to constant market fluctuations. The impact of this rise in gold and silver prices is evident among those planning to buy for weddings, festivals, or investment.