Gold and silver prices in India have shown recovery over the past week but remain substantially lower than their all-time highs, with silver currently ₹1.67 lakh cheaper per kilogram.
In India, the past week witnessed a significant recovery in gold and silver prices, as both precious metals saw a sharp increase. Despite this rise, they remain much cheaper compared to their peak levels. As of now, silver is trading at over ₹1.67 lakh cheaper per kilogram, while 10 grams of 24-carat gold is over ₹36,000 below its high price. This situation highlights the volatility and market dynamics affecting precious metal prices.
Specifically, silver prices surged by ₹8,584 per kilogram over the week, moving from ₹2,44,360 to ₹2,52,944. This increase occurs against a backdrop of sharp declines previously observed, which were partly attributed to market fluctuations. This recent uptick was marked on the Multi Commodity Exchange, with significant investor interest indicating a potential rebound in the commodity market.
However, even with the recent gain, silver remains significantly lower than its historic high, reached on January 29 when prices soared to over ₹4 lakh per kilogram for the first time. This persistent difference illustrates the challenges both investors and consumers face in navigating the current economic landscape, marked by uncertainty and fluctuating commodity values.
