New Delhi. The trend of fluctuations in the prices of gold and silver continues. On Friday, the last trading day of last week, there was a sudden jump in the prices of both the precious metals, but before that they were continuously falling. Despite this rise, while on one hand silver seems to have crashed from its high level and it is still getting cheaper by more than Rs 1.75 lakh per kg, on the other hand the gold rate is also running much below the high even after the recent rise and it is cheaper by around Rs 36,000 per 10 grams.
Read :- Silver Price Crash: Continuous decline in silver prices, trend of falling prices continues
Talking about the latest prices of silver, the price of 1 Kg Silver with expiry of March 5 on Multi Commodity Exchange (MCX) closed at Rs 2,44,360 at the end of futures trading last Friday, which was Rs 7,925 more than its previous close, but, if compared with the all-time high level of silver (Silver Life Time High), then despite this rise, silver is getting quite cheap.
Silver is still this cheap from high
On January 29, the price of silver, creating history, first crossed the historical level of Rs 4 lakh and reached a high of Rs 4,20,048 per kg, running at a stormy pace. However, after this a series of Silver Price Crash started such that it fell to the level of Rs 2.25 lakh. If we look at the current price, it still remains cheaper than its high by Rs 1,75,688 per kg.
Gold rate is also much lower than high
Read :- Trump’s ‘tariff card’ set the market on fire, gold and silver rates rose and ‘broke’ all records.
Regarding gold rate, it is also getting much cheaper than its high level. The futures price of gold on MCX with expiry of April 2 had closed at Rs 1,55,895 per 10 grams on Friday and it had closed higher than its previous close i.e. Thursday. But like silver price, gold rate is also getting much cheaper than its high level. If we look at Gold High, on January 29 itself, along with silver, gold also touched a new peak and running like a rocket, it reached the level of Rs 1,93,096 per 10 grams. After this, Gold Rate Crash was also seen. However, if compared to the previous close, even after Friday’s rise, the 10 Gram 24 Karat Gold Rate is getting cheaper by Rs 37,201 from its high.
Comments are closed.