By Admin 
Silver Rate Today: A huge rise in silver prices is being seen on Monday, the first trading session of the week. On December 29, silver crossed the price mark of Rs 2,50,000 for the first time on Multi Commodity Exchange (MCX).
Apart from the Indian market, there has been a rise in the prices of silver in the international market also. Today the price of silver had crossed 80 dollars for the first time. However, after this tremendous rise, profit booking started in the white metal and prices declined. Let us know the reason for this rise in silver prices…
Latest price of silver on Multi Commodity Exchange
There is a rocket-like rise in silver prices in the domestic futures market on Monday, December 29. Silver futures with expiry of March 5, 2026 opened at Rs 2,47,194 (per kg) on Multi Commodity Exchange (MCX) on Monday. On its last trading day, silver on MCX closed at Rs 2,39,787.
At 10:00 am on December 29, silver was trading at Rs 2,48,982 on MCX. Which shows a jump of about Rs 9,200 from the previous day’s closing price. MCX Silver had reached a high level of Rs 2,54,174 in early trade.
The reason for this rise in silver
There is a continuous increase in the demand for silver in the industrial sector. Its use in sectors like solar panels, electric vehicles and semiconductors has strengthened the prices. In the current situation, about 60 percent of the demand for silver from the entire world is coming from industries only. Besides, the increasing gap between silver production and demand is also a reason for the rise in silver prices.
Apart from this, the weakness of the dollar and indications of interest rate cut by the US Federal Reserve are also supporting the market. In such a situation, investors are turning towards safe options, the direct impact of which is visible on the prices of gold and silver on MCX.
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