Silver reaches all-time high, gold also rises; why prices of precious metals are rising, check latest updates
Silver reached an all-time high today, December 11th. According to the India Bullion and Jewellers Association (IBJA), silver increased by Rs 1,500 to Rs 1,86,988 per kilogram. It was previously at Rs 1,85,488 a day earlier on Wednesday. This year, its price has increased by Rs 1,00,971 (117%).
Meanwhile, gold rose by Rs 747 to Rs 1,28,535 per 10 grams. It was previously at Rs 1,27,788. Gold had reached an all-time high of Rs 1,30,874 on October 17th.
So far this year, the price of gold has increased by Rs 52,373. On December 31, 2024, 10 grams of 24-carat gold was priced at Rs 76,162, which is now Rs 1,28,535.
Steep surge in gold, silver prices this year
Experts say that geopolitical tensions persist, which is supporting gold prices. This is increasing the demand for gold. Therefore, gold could reach Rs 1,35,000 per 10 grams this year, while silver could cross Rs 2,00,000 per kilogram.
The price of silver has increased by Rs 1,00,971 this year. On December 31, 2024, the price of one kilogram of silver was Rs 86,017, which is now Rs 1,86,988 per kilogram.
Silver is no longer just an investment instrument, but also an essential physical resource. Manufacturing companies need it more, so demand is increasing. This is leading to a continuous rise in prices.
Another major reason for the surge in silver prices is the fear of tariffs being imposed on silver under Donald Trump's trade policies in the US. Due to this fear, American companies are accumulating large stocks of silver, leading to a shortage in other parts of the world.
Manufacturers worldwide are scrambling to secure supplies to avoid disruptions to their production. This is driving up prices in the global market. High silver prices are expected to persist in the coming months.