Silver beats gold! The price fell, but there was a queue of buyers, know the whole game

Silver rate today in India : Everyone is talking about the skyrocketing prices of gold, but this Diwali season, silver has played the real game. While gold is becoming costlier week-on-week, silver prices have declined, but the story is not so simple.

If you just look at the situation of last one week, you will feel that silver is getting cheaper. Its prices have fallen by about ₹ 8,000 per kg. Even on Dhanteras, the price in Delhi market fell by ₹ 7,000 to ₹ 1,70,000 per kg.

But wait… look at the whole picture! Last year on Dhanteras, the silver which was worth only ₹ 99,700, was sold for ₹ 1,70,000 this time. That is, silver in just one year ₹70,300 It has become expensive. So this recent decline is like a ‘comin in the camel’s mouth’.

Why did silver become people’s first choice on Dhanteras?

This was the biggest surprise of this year. Despite such high inflation, on Dhanteras people showered more love on silver than gold.

• Bumper sale of coins: There was a 35% to 40% jump in sales of silver coins compared to last year.
• Left the gold behind: It seemed as if the price of gold had become so out of reach of the common man that people considered silver as their best option for wealth and investment.

Let’s see, what is the price of silver in your city today:

Why are international prices falling?

This decline is being seen not only in India but all over the world. Silver prices fell by more than 6% in the international market, which is the biggest fall in the last 6 months. This is because when prices rose too high, big investors started charging their profits. Also, due to a slight reduction in tension between America and China, its demand as a safe investment has also reduced.

So next time someone talks only about gold, tell him this interesting story of silver.