There is a continuous increase in the brilliance of silver in the country. On Tuesday night, the price of silver crossed Rs 76,000 for the first time. About 16 hours later, silver set another new record. According to the data, silver has provided investors with a profit of Rs 15,642 per kg silver in the month of May. According to experts, the price of silver is increasing due to industrial demand from China and India.
In such a situation, a further rise in the price of silver may be seen in the coming days. The special thing is that in the coming weeks the price of silver may reach the level of Rs 1 lakh per kg. Let us also tell you what kind of silver price figures are being seen in the Indian market.
New record made in 16 hours
Silver has set a new record on the Multi Commodity Exchange after about 16 hours. According to the data, silver prices on MCX hit an all-time high of Rs 96,493 per kg after 11 am By the way, today morning the MCX silver opened at Rs 95,502 per kg. Currently, at 12:50 pm, the silver price shows an increase of Rs 722 and the price has crossed Rs 96,170 per kg. On Tuesday, silver closed at Rs 95,448 per kg.
How much did it increase in May?
There has been a tremendous increase in the price of silver in the month of May. According to the data, in the same month of May silver gave investors a return of 19.34 percent. According to MCX, the price of silver on the last trading day of April was Rs 80,851 per kg. Which increased to Rs 96,493 per kg on Wednesday. This means that in the month of May, the price of silver saw an increase of Rs 15,642 per kg. According to experts, such a large increase in the price of silver in one month would never have been seen.
Will one lakh gold be obtained?
According to Kedia Advisory, the price of silver may cross one lakh rupees in a few weeks. Kedia explained the reasons for this: there is an increase in industrial demand for silver. The way in which the improvement in China's economy is being seen. Its effect is being seen in the form of increasing demand for silver. On the other hand, India also manufactures solar panels and electric vehicles. Due to which an increase in physical demand is being seen. In such a situation, an increase in the price of silver occurs.
