Rs 65,000: The price of silver went past the Rs 65,000-per-kg mark on July 29.

Business Standard
30th July

Rs 65,000: The price of silver went past the Rs 65,000-per-kg mark on July 29.

  • This is the highest level for silver since the April 2011 high of Rs 75,000 a kg. According to experts, the metal could soon breach the all-time-high level.
  • In fact, in global markets, silver jumped to a seven-year high due to bets on a rebound in demand for the metal by industries.
  • Silver, which is used as an essential component in many industries, has a high standard deviation (a measure of the risk in price movement) and has been one of the most volatile metals.
  • The price volatility of silver in rupee terms is twice that of gold. With encouraging vaccine news coming in and optimism about China's economic recovery, commodity prices have risen across the board.
  • Another reason for rising silver prices is the inflows in ETFs in the west, which have hit a record high.

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