Rise in silver price by ₹ 20000: Know 3 big reasons for the rise
Silver Price Today: After US President Donald Trump's global tariff announcement, a huge rise in silver was seen at the beginning of the trading week. Surprising the investors, the price of silver increased by almost ₹ 20000 in a single day (Silver price hike).
While a rise of more than ₹ 13000 was recorded on MCX, silver jumped to a new level by almost ₹ 19986, according to the data of Indian Bullion Jewelers Association (IBJA).
What are the latest silver prices?
On Multi Commodity Exchange i.e. MCX, silver for delivery on March 5 jumped by 4.65 percent today and the price increased by Rs 11,756 to Rs 2,64,700 (silver rate today) per kg.
During trading its low level was Rs 2,60,028 and high level was Rs 2,68,875 (silver price today). Whereas during the last trading session it had closed at Rs 2,52,944.
On Friday, the price of silver on IBJA was Rs 2,45,564 per kg. Today it increased to Rs 2,65,550 per kg. That means a strengthening of about 20,000 in one stroke.
At the same time, by 3 pm in the global market there was a jump of about 5 percent and the price increased by $ 4.10 and crossed $ 86 an ounce.
Also read- Gold Target Price 2026: There is going to be a huge rise in gold, will it cross ₹ 2 lakh in 4 months? Prices will increase due to these 3 reasons
Ajay Kedia told 3 big reasons for the surge
Now the big question is why there was a sudden surge in silver? Ajay Kedia, director of Kedia Advisory, gave three big reasons for this.
1. Effect of expiry: The expiry of silver futures contract is near. Short covering often occurs at the time of expiry, leading to a sharp rise in prices. This time also the same trend was seen.
2. China's Lunar New Year ends: China is the world's largest commodity consumer. After the Lunar New Year holidays, industrial demand becomes active again. This created expectations of increased demand for silver and prices rose.
3. US-China tension and Trump Tariff Donald Trump's global tariff announcement has deepened the fear of trade war. As US-China tensions increase, investors lean towards safe investments. Along with gold, safe haven purchasing in silver has also increased.
Silver Target Price 2026: Ajay Kedia gave target price
Ajay Kedia believes that there may remain instability in the market at present. If geopolitical tension and tariff dispute increases, fluctuations in silver may remain sharp. However, profit booking can also be seen at higher levels. He believes that in the coming days silver can touch the figure of Rs 2,90,000.
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