By Admin 
Silver Price Rally: Amidst the increasing uncertainty in the international market and the weakness of the US dollar, investors are increasingly turning towards silver. Silver is becoming more popular than ever as a safe investment option for investors. Due to which its demand is continuously increasing.
In the global market, silver is trading at around $ 115 per ounce, while on the domestic MCX its price has reached Rs 3.83 lakh. Not only technical reasons are behind this rise, but bigger reasons like China’s strong retail demand and global economic situation are also playing an important role. Let us know the reason for this rise…
Silver got support due to strong demand from China
The interest of retail investors in China is continuously increasing in silver. A large number of people are investing in silver. The race to buy silver was so intense that a silver fund had to stop trading for some time. In fact, the premium of that fund had gone much above its Net Asset Value (NAV). This clearly shows that Chinese investors are placing their bets on silver.
Apart from this, Chinese manufacturers are also now focusing more on producing 1 kg silver bars instead of making silver jewellery. This change shows that the demand for silver from investment point of view is strengthening. In such a situation, it is expected that the current rise in this precious metal is not just for some time, but can continue for a long time.
Dollar weakness and increasing demand
The weakness in dollar prices along with the circumstances arising at the global level has also supported silver. Talking about the figures, the US dollar has reached its lowest level in the last 4 years. Besides, the demand for silver is continuously increasing in different industries. For the last few days, silver prices have remained rising due to industrial demand.
Silver price on Multi Commodity Exchange
On the Multi Commodity Exchange (MCX) at around 3 pm on Wednesday, January 28, silver futures with expiry of March 5, 2026 were trading at Rs 3,76,899 (per kg).
Silver started the trading day at Rs 3,64,821. If we compare the prices with the previous day’s closing, a rise of around Rs 20,500 is being seen in silver. During the trending day, silver futures had reached a high level of Rs 3,83,100.
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