In the domestic market, silver has surpassed Rs 1 lakh per kilogram, while on the international market, it has reached a 12-year high of $34 per troy ounce.
What's Happening?
Since the start of 2024, silver prices have risen by nearly $10 per ounce. Various factors are contributing to this rise, including increasing geopolitical tensions in West Asia and interest rate cuts by the U.S. Federal Reserve. These factors strengthen silver's value as a safe investment, similar to gold, making it increasingly attractive to investors. Additionally, with seasonal festival spending, silver prices have been boosted, and experts suggest this upward trend may continue.
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