A huge jump was seen in silver prices in the national capital on Wednesday. 1 kg silver increased by Rs 9,750 to reach Rs 2,27,000. Meanwhile, in the international markets the white metal crossed the level of $ 72 an ounce. This information was given by All India Bullion Association. On Tuesday, the price of silver was Rs 2,17,250 per kg. HDFC Securities Senior Analyst Saumil Gandhi said that spot silver has crossed the level of $ 72, touching a record high in the international markets.
In the calendar year, the price of silver has increased by Rs 1,37,300 or 153.06 percent to above Rs 89,700 per kg recorded on December 31, 2024. Gandhi noted that the weak US dollar, expectations of the US Federal Reserve’s soft monetary policy and geopolitical tensions continue to create favorable conditions for silver.
gold price today
Meanwhile, the precious metal gold of 99.9 per cent purity came down slightly from the record high in the local bullion market and traded at Rs 1,40,800 per 10 gram (inclusive of all taxes), down by Rs 50 from the previous closing price of Rs 1,40,850 per 10 gram on Tuesday.
Spot gold in international market
In the international market, spot gold crossed the level of $ 4,500 an ounce for the first time and reached $ 4,525.96 an ounce, which is an increase of 0.92 percent. Praveen Singh, Head of Commodities, Mirae Asset Sharekhan, said spot gold touched a new record of $4,525 an ounce in the Asian session as the US dollar remained weak, PTI reported. In the last four sessions, the price of gold has increased by $ 186.46 or 4.3 percent. So far this year, the price of gold has increased by $ 1,920.19 or 73.7 percent.
Spot silver rises for the fourth consecutive day
In the foreign market, spot silver registered gains for the fourth consecutive day and made a new high at $ 72.70 an ounce. Renisha Chainani, head-research at Augment, said spot silver hit a record $72 an ounce, driven by expectations of monetary policy easing from the US Federal Reserve and rising geopolitical tensions. In the last four sessions, the price of silver has increased by $ 5.56 or 8.3 percent. So far this year, silver has seen a rise of $ 43.73 i.e. 151 percent.
Chainani further explained that rising tensions between the US and Venezuela attracted investors to bullion as a safe haven investment. Moreover, the US dollar failed to strengthen due to two possible rate cuts by the Fed in 2026 despite US third quarter GDP data.
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