Chandi ka rate: Silver prices increased by 11 percent, rates reached sky high

The Kalamkar News, Digital Desk- New Delhi: On one hand, gold is making huge profits for the investors. On the other hand, the price of silver is also seeing a rocket-like rise. In the country's futures market, the price of silver has crossed the level of Rs 83 thousand for the first time.

The price of silver can be estimated from the fact that in the month of April, an increase of about 8 thousand rupees i.e. 11 percent has been seen.

According to experts, the price of silver is increasing due to demand from China. On the other hand, due to the rise in the prices of base metals, the prices of silver have also skyrocketed.

Silver crosses Rs 83 thousand for the first time-

On the country's futures market Multi Commodity Exchange, the price of silver crossed Rs 83 thousand for the first time. There is an increase of Rs 952 in the price of silver and the price has reached Rs 82,827 per kg.  

Increase of about 11 percent in April-

In the month of April, the price of gold has given a return of 6 percent. On the other hand, the price of silver has given a return of 11 percent to the investors. According to the data, the price of silver on the last trading day of March was Rs 75,048. In which till now an increase of Rs 7,990 has been seen.

In the current year, the price of silver has seen an increase of about 10 percent. At the end of last year, the price of silver was Rs 75,500. In which an increase of up to Rs 7,538 has been seen. If experts are to be believed, the price of silver may rise in the coming days.

Why is silver becoming expensive?

The important reason for the increase in silver is increased demand from China. Anuj Gupta, Commodity Currency Head, HDFC Securities, said that China's manufacturing figures have improved. Due to increase in industrial demand, the price of silver is increasing. 

He further said that the prices of base metals like copper and zinc are also increasing. Its effect is also being seen in the price of silver. He said that the price of silver may also rise in the coming days.

​Gold also at record level-

On the other hand, gold prices have also reached record levels. During the trading session, gold prices are rising by Rs 586 in the futures market and the price is trading at Rs 71,498. 

Whereas during the day's trading session, the price of gold reached a life time high of Rs 71,739. However, today gold prices opened with a rise in the morning at Rs 71,026. An increase of 6 percent has been seen in the price of gold in the month of April.

Gold at record level in Delhi-

Following the strong global trend, gold and silver prices continued to hit records for the second consecutive day in the bullion market of the national capital on Tuesday and the prices of both the precious metals reached new life time highs.

In the national capital, gold price rose by Rs 140 to a new high of Rs 71,840 per 10 grams. On Monday, gold had closed at Rs 71,700 per 10 grams.

The price of silver also jumped by Rs 500 and reached a new record high of Rs 84,500 per kg, whereas on Monday, for the first time, silver had crossed the level of Rs 84,000.

Gold and silver in foreign markets-

HDFC Securities Research Analyst Soumil Gandhi said that taking cues from the strengthening trend in overseas markets, the spot price of 24 carat gold in Delhi markets was trading at a new record high of Rs 71,840 per 10 grams, which was 10% higher than the previous closing price. There is an increase of Rs 140.

In the foreign market Comex, spot gold was trading at $ 2,350 an ounce, which is $ 14 more than the previous closing price. Apart from this, silver prices also increased and were trading at $ 28.04 per ounce. In the last trade it had closed at $ 27.80 an ounce.