Silver Price Jumps: Amidst the increasing demand for safe investment options in the environment of global uncertainty, there was a strong rise in the prices of gold and silver in the bullion market of the capital on Friday. According to All India Bullion Association, silver prices jumped by Rs 6,500 to Rs 2,50,000 per kg, while gold rose by Rs 1,200 to close at Rs 1,41,700 per 10 grams (including all taxes).
Silver shines amidst global tension
In the earlier session, a sharp fall in the price of silver was recorded due to profit booking. On the last trading day, silver had fallen by Rs 12,500 or about five percent to Rs 2,43,500 per kg. It is noteworthy that on Wednesday, silver had touched a record level of Rs 2,56,000 per kg. At the same time, the price of gold of 99.9 percent purity also last closed at Rs 1,40,500 per 10 grams.
Saumil Gandhi, senior commodity analyst at HDFC Securities, said that the main reasons for the rise in gold are new demand for safe investments and positive capital inflows in exchange traded funds (ETFs). He said that the market is keeping a close eye on the warnings of US President Donald Trump regarding Iran. Additionally, ahead of the Supreme Court’s decision on tariff-related matters in the US, traders are adopting a cautious approach to avoid potential risks and fluctuations.
Investors alerted
Talking about the international market, silver closed at $ 76.92 an ounce. However, it saw huge fluctuations during trading and it fell by $ 4.32 or 5.53 percent to $ 73.83 an ounce. It is clear from this that the increasing uncertainty at the global level continues to affect the prices of precious metals.
Also read: This shocking news has come for India amidst President Trump’s 500 percent tariff threat.
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