Gold and Silver Prices Surge Today: Silver Jumps by Rs 12,000 in Minutes, Gold Prices Also Skyrocket

Gold Silver Price Today: Gold and silver prices are witnessing a significant surge today, Wednesday. Silver prices have reached above ₹1,87,000.

Gold Silver Price Today: There is a significant surge in silver prices today, Wednesday. As the market opened, silver jumped by approximately ₹12,000. Meanwhile, gold has also reached new heights. In the domestic futures market, both gold and silver prices traded with substantial gains in early trading. On the MCX exchange, gold futures traded 0.50 per cent, or ₹705, higher at ₹1,42,946 per 10 grams.

Significant Jump in Silver

A substantial increase is being observed in silver prices. On the MCX exchange on Wednesday morning, silver traded 4.49 per cent, or ₹12,365, higher at ₹2,87,552 per kilogram.

Why This Surge in Gold and Silver?

The reason for this surge in gold and silver is the increased expectations of a US Fed rate cut. Inflation data from America has been encouraging. This has boosted hopes for a cut in US interest rates this year, providing support to gold prices.

Global Gold Price

Global gold prices are also seeing a rise today, Wednesday. On COMEX, gold traded 0.80 per cent, or $36.90, higher at $4,636 per ounce. Meanwhile, Gold Spot was trading 0.94 per cent, or $43.34, higher at $4,629.86 per ounce.

Global Silver Price

Global silver prices have seen a tremendous increase. On COMEX, silver traded 5.20 per cent, or $4.49, higher at $90.83 per ounce. Meanwhile, Silver Spot was trading 5.08 per cent, or $4.42, higher at $91.36 per ounce.