By Admin 
Silver Price Record High: Silver prices have reached their highest ever record high level on Monday. Today, creating history, silver has crossed the level of Rs 3 lakh per kg. In future trade on Multi Commodity Exchange (MCX), silver for March delivery has reached a record Rs 3,01,315 per kg for the first time today with an increase of Rs 13,553 or 4.71 percent.
There has been a surge in silver prices in the last one week, which has increased by 14 percent or 35,037, which reflects the strong demand among investors, positive global signals and its increasing demand as a safe haven.
Why are silver prices increasing?
Last week itself, the price of silver in the global market increased by $9.2 i.e. 11.6 percent, leaving gold far behind. The price of gold had increased by $94.5 i.e. 2.09 percent. Analysts attributed the sharp rise in silver prices to rising geopolitical tension, weakening US dollar, supply-related concerns and strong industrial demand, especially from the green energy and electronics sectors.
Silver left gold behind
Silver’s recent rally has far outpaced gold’s rally, reflecting its dual role as both a precious and industrial metal. Let us tell you that silver is used in making solar panels, which is helpful in generating clean energy. Apart from this, silver is also used in electric vehicles as well as in AI chips and data centers.
Latest price of silver in cities
Today, silver prices remain high in many cities across the country. In Chennai and Hyderabad, silver is being sold at the rate of Rs 3,01,350 and Rs 3,00,950 per kg respectively. At the same time, the price in Bengaluru is around Rs 3,00,710 per kg, while in Kolkata the price remains around Rs 3,00,080 per kg.
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