Silver made a new record in 16 hours, earned Rs 15,642 in May - Newztezz Online

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Wednesday, May 29, 2024

Silver made a new record in 16 hours, earned Rs 15,642 in May

 


The shine of silver is continuously increasing in the country. On Tuesday evening, the price of silver crossed Rs 76 thousand for the first time. About 16 hours after that, silver set another new record. According to the data, silver has given investors a profit of Rs 15,642 per kg of silver in the month of May. According to experts, the increase in the price of silver is being seen due to industrial demand from China and India.

In such a situation, we can see a further increase in the price of silver in the coming days. The special thing is that in the next few weeks, the price of silver can touch the level of Rs 1 lakh per kilogram. Let us also tell you what kind of figures of silver prices are being seen in the Indian market.

New record made in 16 hours

Silver has set a new record after about 16 hours on the Multi Commodity Exchange. According to the data, the price of silver on MCX reached a lifetime high of Rs 96,493 per kg after 11 am. However, today silver opened at Rs 95,502 per kg on MCX in the morning. Currently, at 12:50 pm, the price of silver is seeing a rise 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 the increase in May

A tremendous increase in the price of silver has been seen in the month of May. According to the data, silver has given a return of 19.34 percent to investors in the month of May itself. According to MCX, the price of silver was Rs 80,851 per kilogram on the last trading day of April. Which has increased to Rs 96,493 per kilogram on Wednesday. This means that in the month of May, an increase of Rs 15,642 per kilogram has been seen in the price of silver. According to experts, such a big increase in the price of silver has never been seen in a month.

Will gold fetch one lakh rupees?

According to Kedia Advisory, the price of silver can cross Rs 1 lakh in a few weeks. Explaining the reason for this, Kedia said that there is an increase in the industrial demand for silver. The way China's economy is improving, its effect is being seen in the form of increasing demand for silver. On the other hand, India is also manufacturing solar panels and EVs. Due to which there is an increase in physical demand. In such a situation, there is a rise in the price of silver.

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