Earning 1 kg of silver after Diwali sets a record, you will forget gold
While gold prices have already seen a rise of about 5% since Diwali, silver prices are expected to rise by about 35% by December 22nd. Silver still needs to rise by about 16% to reach Rs 2.5 lakh. If this pace continues, this record could be reached in the first week of January.
Even though gold prices have reached their peak, silver has surpassed all other currencies in terms of returns, especially since Diwali. In the Indian futures market, gold has yielded investors approximately 5% returns from Diwali until December 22nd.
Silver, on the other hand, has made investors rich. During this period, silver has given investors returns of approximately 35%. However, prices of both are expected to rise on Tuesday, December 23rd.
The prices of both have once again reached their peak. Experts believe that the main reasons for the increase in silver prices are industrial demand and a decrease in supply.
Additionally, investor sentiment has been more pronounced in the past few months, leading to an increase in investment demand. Let us tell you how much the prices of gold and silver have increased since Diwali.
First, let's talk about gold prices: Since Diwali, gold prices have risen by about 5 percent. Diwali fell on October 20th, and the country's futures market was open for the full day.
When the market closed, gold prices were ₹130,624 per ten grams. Gold prices peaked on October 17th. On December 22nd, gold prices closed at ₹136,744 per ten grams. This represents an increase of ₹6,120, or 4.68 percent.
Gold prices are also seeing a rise on December 23rd. At 9:40 am, gold was trading at ₹138,370 per ten grams, up ₹1,626 in the national futures market.
During the trading session, gold prices reached a new peak of ₹138,381. Gold had previously opened higher at ₹138,297 in the morning.
What a wonder silver has done
Meanwhile, silver prices have performed wonders in the country's futures market. Data shows a dramatic increase in silver prices. When the market closed on Diwali, October 20th, silver prices were ₹1,57,987 per kilogram.
Since then, silver prices have increased by ₹54,885, reaching ₹2,12,872 per kilogram on December 22nd. This means that silver has generated 34.74% returns for investors so far.
This means that in just 60 days, silver has broken all earnings records. However, experts believe that the month of December is not over yet. Silver prices may see further increases by the end of the year.
Silver prices are also seeing a significant increase on December 23rd. According to data, at 9:45 am, silver prices rose by ₹2,961 to trade at ₹215,833.
During the trading session, silver prices increased by ₹3,724 per kilogram, reaching ₹2,16,596 per kilogram. This morning, the price opened higher at ₹2,14,498.
Can silver go up to Rs 2.50 lakh?
According to experts, silver prices could reach ₹2.50 lakh by the end of March 2026. Silver needs to rise approximately ₹34,000 from its current level to reach ₹2.50 lakh.
This means that silver prices need to rise by approximately 16%. If silver's current momentum continues, it could reach ₹2.50 lakh within the first week of trading.
According to Anuj Gupta, director of Yaa Wealth Management, both industrial and investment demand for silver are increasing, but supply is significantly low. This is causing the price to rise, and the impact of this could be further evident in the coming days.
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