Silver price: Silver prices may cross the Rs 1 lakh mark on the rise.

Increase in the price of silver: Currently, the prices of gold and silver are seeing a huge increase. On Monday, April 8, the price of gold rose to Rs 70,850 per 10 grams. Silver is also moving at a faster pace and has touched a record high of Rs 81,313 per kg. This increase in the prices of gold and silver is due to several reasons. Now the price of silver is expected to reach one lakh rupees per kg.

A huge increase in the year 2024

Along with economic reasons, many wars going on in the world are also being blamed for the increase in the prices of gold and silver. This is the reason why the purchase of gold and silver has increased rapidly. In the year 2023, the price of gold increased by about 13%. On the other hand, the price of silver also increased by about 7.19%. If we look at the data for 2024, silver has risen by around 11% and gold by around 15% till April 8 this year.

Silver prices will not stop for now.

On this upheaval in the gold and silver market, brokerage firm Motilal Oswal said on Monday that there is still no possibility of stagnation in gold and silver prices. Currently, gold can go up to Rs 1 lakh per kg. It is expected to remain at the rate of Rs 92 thousand per kg in the medium to long term. Geopolitical tensions have changed investor behavior. Apart from this, the demand for silver in industry has also increased rapidly. These include automotive and consumer electronics. With the increase in demand for solar energy, the demand for silver will also increase.

Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing. ABPLive.com never advises anyone to invest money.

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