Silver Price Today: Silver prices saw a sharp rise on Monday morning. The price of 1 kg of silver on MCX is Rs 2,50,149, a gain of Rs 10,362 per kg. Silver has so far hit a low of Rs 2,47,194 per kg and a high of Rs 2,54,174 per kg, reported Jagran Business.
Silver Price Hike: Reason Behind Rise
Silver prices have been steadily rising over the past few days. On December 26, silver saw a sharp rise. This upward trend appears to be continuing on Monday. Around 10:30 am, silver prices were trading above Rs 9,600 per kg. Silver's rise is due to a shortage of supply. Demand is increasing, but supply is still tight.
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City-Wise Silver Price
Patna - Rs 2,48,370
Jaipur - Rs 2,49,080
Kanpur - Rs 2,48,180
Lucknow - Rs 2,49,180
Bhopal - Rs 2,49,370
Indore - Rs 2,49,370
Chandigarh - Rs 2,49,110
Raipur - Rs 2,49,010
According to the table above, Bhopal and Indore have the highest silver prices, standing at Rs 249,370 per kilogram. Jaipur has the lowest silver prices, with the price of Rs 249,080 per kilogram.
Gold Rate Today
Gold prices in India witnessed a slight increase on Monday, primarily due to a surge in global demand and persistent inflationary pressures. According to the latest market data, 24-karat gold is currently priced at Rs 1,41,210 per 10 grams, while 22K gold is priced at Rs 1,29,440. The price of 18-karat gold has reached Rs 1,05,910 per 10 grams.
Gold prices in India continue to witness an increase due to several factors, such as the international price of gold, the US Dollar exchange rate, and domestic jewellery demand, especially ahead of the wedding season.