Silver Rates In India Spike By Rs 11,000, Beats Gold In 10 Days

New Delhi: In a latest update in silver price in India, it has recovered the losses today, suffered in previous two days. The price of 1 kg of silver increased to Rs 11,000 on Saturday. On the contrary, the price of silver crashed Rs 8,000 on January 9 and 8. After the recent surge in silver price, silver now holds around the Rs 2.6 lakh mark. With this constant fluctuation in silver price in last 10 days, it has outperformed gold in Jaunary.

What is the price of silver on January 10?

The price of 1Kg silver, on January 10, surged by Rs 11,000 to Rs 2.60 lakh mark. Meanwhile, the price of 100 grams and 10 grams silver rates increased by Rs 1,100 and Rs 110 to Rs 26,000 and Rs 2,600 respectively. The price of 8 grams silver soared by Rs 88 to Rs 2,080. 

What is silver vs gold price?

In the last days, the price of both silver and gold witnessed quite a fluctuation. If compared with gold, silver rate has rallied by 9.24%, while gold rate soared by 4% across 24 carats, 22 carats and 18 carats.

What are silver price prediction?

Silver made the highest record on January 10. Predicting the silver price, Ponmudi R, CEO of Enrich Money, stated the future performance of silver. Notably, Spot Silver Price Outlook COMEX Silver has recorded a sharp rebound to $79.79 per ounce. According to his further prediction, ''A immediate support is seen in the $75-$78 zone, coinciding with recent swing lows and channel support. A sustained breakout above $82 could open the door toward $85-$90, with further upside possible as supply constraints and green-energy-driven demand continue to underpin the broader bull phase. Corrections, if any, are expected to remain shallow and short-lived.''

What will be the rate of silver in India? 

It is to be noted that the price of MCX silver has increased to Rs2,52,725 per kg, hinting re-entry a strong bullish channel. The prediction further states that it may reach Rs2,40,000-Rs2,45,000. Meanwhile, in the coming weeks, if the price soar above Rs2,53,000 could further lead it towards Rs2,60,000-Rs2,70,000. Structural fundamentals, including persistent supply deficits and rising demand from solar, EV, and electronics sectors, continue to favor aggressive accumulation on pullbacks.