Silver Price Today: There is a continuous rise in the prices of precious metals like gold and silver. Silver prices are skyrocketing. On Friday’s trading day, the price of silver in the country’s capital Delhi had jumped by Rs 9350 per kg.

After this rise, silver had reached the level of Rs 2,36,350. Talking about the last one week, on December 19, silver was trading around Rs 2,04,100. Now its price has gone above Rs 2,36,000. Let us know the reasons for this rise and the condition of the foreign market…

foreign market situation

There has been a strong rise in the prices of silver in the international market. Spot silver has reached above $75 per ounce for the first time. During this period, the price has increased by $ 3.72 or about 5.18 percent. During trading, the price of silver has increased to a record level of $ 75.63 per ounce.

Why is the demand for silver increasing?

The main reason for the rise in silver prices is the continuous increase in demand related to the industrial industry. Demand for silver has increased in factories and technical sectors. Also, limited global silver production and increasing demand have led to increase in silver prices.

Silver is an important element in emerging segments like solid-state batteries. Silver is used in EV vehicles, solar energy sector etc. This is the reason why industrial demand is continuously supporting the price of silver.

Experts believe that currently about 850 million ounces of silver is being produced in the world, while the demand for silver is 1.16 billion ounces. Besides, tension between America and Venezuela may also affect silver exports.

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