Were you waiting for a recession? Silver gained such momentum that its price crossed ₹ 3.20 lakh.

News India Live, Digital Desk: If you were thinking of buying silver jewelery or utensils for an upcoming wedding or festival, then the news coming from the market can spoil your budget. In the last two days, silver has done something in the market which even big experts had not imagined. Silver prices on MCX have taken such a huge leap that now it has crossed the figure of ₹ 3.20 lakh per kg.

The most surprising thing is that within just 48 hours its price fell by almost Huge jump of Rs 32,000 Has come.

Why is there this commotion?
This sudden rise in the bullion market has left the common buyer wondering. People are not able to understand how the silver which was within the reach of the middle class till yesterday, suddenly became so expensive? According to experts, increasing demand and severe shortage of supply in the international market has made this white metal ‘black gold’. Now people have started saying that the day is not far when we will have to plan to buy silver in the same way as we do to buy gold.

Condition of cities: How much impact on your pocket?
Not only in Mumbai or Delhi, but also in cities like Jaipur, Lucknow and Indore, prices have gone up rapidly. There is silence in Jaipur’s Johri market as buyers wait for prices to stabilise. At the same time, in Chandni Chowk of Delhi too, people are forced to get new things made by giving old silver because the new prices are not affordable for everyone.

Is it still worth investing?
Now the question in the mind of a common investor is whether the prices will increase further or should we wait for a while? Experts say that when the market is so volatile, it is better to buy little by little. But the way silver has traveled 32 thousand rupees in 2 days, it has failed all the old predictions of the commodity market.

Overall, silver is no longer just shining, but is setting the market on fire. If you have to make a purchase, then definitely check the price of the local bullion market of your city, because the prices may be slightly different in every city depending on the making charges and local demand.