Silver became cheaper from all time high to Rs 21000 in a single day, know the price of silver today

Silver Rate Today: The price of silver surprised everyone on Monday. After the market opened in the morning, silver reached all-time high but when the market closed, it recorded a decline of 9 percent. On Monday, the price of silver on Multi Commodity Exchange (MCX) had reached Rs 2,54,835 per kg. At the time of market closing, there was a fall of about Rs 21 thousand, which is considered to be the biggest fall of silver till date. There is a possibility of a rise in prices on Tuesday.

Today i.e. on Tuesday, the price of silver on MCX is around Rs 2,33,500 per kg. Which is an increase in the price as compared to the closing of the market on the previous day i.e. Monday. Apart from silver, a decline has also been recorded in the price of gold. On Tuesday, the rate of 10 grams of 24 carat gold is Rs 1,37,600.

There was a decline in both gold and silver

If we talk about Monday, a huge fall of 3.5 percent was recorded in the February expiry gold, after which the price of gold reached close to Rs 1,34,950 per 10 grams. If we talk about silver, the March expiry silver fell by 6.40 percent and reached near Rs 2,24,500, but today again it has increased with the opening of the market.

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Why did the price suddenly fall?

According to stock market experts, silver and gold have given good returns at the end of the year. A bumper increase was seen on Monday. Meanwhile, selling became dominant as soon as the all-time high was reached. When traders saw tremendous growth, they thought it better to protect their profits. After which an overbought situation arose. Besides this, it is also the end of the year, so the lack of liquidity in the market has deepened the fluctuations.