Silver rate today has surged to an all-time-high of Rs 1,43,750 per kg according to India Bullion, on Monday. The prices of the white metal surged by Rs 1,490 when compared with Friday's price of Rs 1,42,170.
Silver's superior performance is broadly attributed to silver's dual role, according to Kedia Advisory. Unlike gold, which is primarily seen as a store of value, silver benefits from both investment demand and its widespread use in industries like electronics, solar panels, and medicine.
Silver Price Today: Rates In Delhi, Mumbai, Chennai
In New Delhi, the price stood at Rs 1,43,400 per kg, and in Mumbai, it stood at Rs 1,43,650 on Monday.
In Bengaluru, the rate stood at Rs 1,43,860, while in Kolkata, it was Rs 1,43,460 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,44,060 per 10 gm.
Silver Future Prices And Outlook
The Dec.5 future prices of the white metal rose 1.18% to Rs 1,43,565 according to the Multi-Commodity Exchange. This industrial demand has given silver an extra edge in a year of global economic recovery and renewed manufacturing activity, making it the brighter performer of the two precious metals.
Further, Gold prices today were trading at a new high of levels above the Rs 1,14,000 mark, driven by festive demand and safe-haven demand.
In India, the prices held steady at Rs 1,14,940 per 10 gm, according to the India Bullion Association, compared to Rs 1,13,170 on Friday. The previous high that the yellow metal hit was on Sept. 23, when the price rose to Rs 1,14,360.
"As the labour market and inflation are still a cause of concern for the Fed, they want to keep an eye on the data. The trend of gold is looking positive for the longer term," Gupta stated. In the very near term, there might be some profit booking as the event passes off.
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