Jagran correspondent, Agra. Silver Price Today: Silver crashed on MCX on Friday after crossing its new milestone of Rs 4 lakh on Thursday. The market opened with losses in the morning, but by 12 noon it fell by more than 10 percent and entered the lower circuit. Even after this, the market did not stop and by evening the price fell by Rs 63 thousand and reached Rs 3,32,000 per kg.
The spot market also broke down at such a pace that it did not stop. After falling by Rs 50 thousand, it reached Rs 3,35,000 per kg. There was silence in the market only after noon and people were seen searching and asking about many businessmen in the major markets.
Price decreased by 63 thousand on MCX, price reached Rs 3,32,000 per kg
Silver was breaking its old records everyday and reaching all time high. Since January till now, several times an increase of Rs 15 to Rs 23 thousand and a similar decline has been recorded. Even after this, new speculations and figures were being made every day regarding the market.
Due to global instability and tension between many countries, the movement of silver has deteriorated. Buyers are those who have compulsion or who are investors. Sahalag is going on, but buyers are not reaching even a quarter of the market.
50 thousand broken market in spot, price reached Rs 3,35,000 per kg
The number of investors has increased manifold. Along with private investors, central banks of different countries are also investing. The tariffs imposed by America and the increasing use of silver in the industrial sector are also giving new shine to its prices every month. Meanwhile, the biggest decline has occurred in the market.
When MCX lost Rs 63 thousand in one day, many traders stayed away from the market in the afternoon. There was heated discussion among the traders present at Chaubeji Gate, Kinari Bazaar and other markets.
Dipanshu Aggarwal, owner of Deendayal Anand Kumar Saraf, said that not even a quarter of the customers are left, the business has come to a standstill. In such a situation, a big difference will further affect the market. President of Agra Bullion Manufacturers Association, Braj Mohan Rapuria says that the daily surge in silver prices will also create new problems in the market. This is the speed of prices
Silver spot 3,35,000MCX 3,32,000Notes, prices are in per kg.
Global instability has made silver prices unstable. Such big corrections will definitely keep coming, but the new level of silver is now above five lakhs.
Anand Prakash, Director, Abhushan Jewellers
There has been a big fall in the price of silver. These are the cause of international tension and new decisions every day. The market is definitely broken, but the prices do not seem to be stopping at the moment.
Nitesh Aggarwal, President, Agra Bullion Association
Chyawanprash is a part of every Indian's life, it reduces diseases and increases energy.