Silver The price has reached Rs 1 lakh per kg. In the last one year, silver has also left gold behind in terms of returns. If we look at the rise in the price of silver since last Diwali, it has increased by more than 42%. Let us tell you that in the last Diwali, the price of silver was Rs 71,000 per kg, which has now increased to close to Rs 1 lakh per kg. In comparison, gold prices in the national capital have risen by more than 30% to Rs 80,450 per 10 grams since last Diwali. Commodity market experts say that the ongoing rise in the price of silver is not going to stop. Silver will rise further. Let us know how far the price of silver can go.
Silver can go up to Rs 1.25 lakh per kg
According to Anuj Gupta, Commodity and Currency Head, HDFC Securities, the all-time high price of silver was $ 49.8 in 2011. Currently, silver is trading around $34 in the international market. In such a situation, silver will continue to rise further in the coming months. Silver consumption has increased due to increase in industrial demand. This will also increase the price. Regarding silver, my first target is Rs 1.10 lakh per kg and the second target is Rs 1.25 lakh. This price is expected to come next year.
What is the next target of gold?
According to Anuj Gupta, globally Comex gold is near $ 2,744.30 an ounce. Talking about the domestic market, gold is at a record level of Rs 80,700 per 10 grams. More growth may be seen till Diwali. The next target of gold can reach Rs 83 to 85 thousand per 10 grams by the end of this year or in the new year. No big rise in gold is expected from here.
What is the reason for the big rise in silver?
Experts say that silver is used extensively in electronics, solar panels, batteries and semiconductors, making it an important component of modern technology. Silver’s price may rise further due to increasing industrial demand along with another interest rate cut by the Federal Reserve. Ongoing geopolitical tensions and the risk of economic instability in global economies are also attracting investors towards precious metals like silver.