Gold Silver Price: Friday was no less than a tsunami for the bullion market. There was such a strong rise in the prices of silver that the faces of the investors lit up, but the tension of the buyers increased. While silver was at Rs 2,64,100 per kg in the morning, by evening it crossed Rs 2,75,249. The jump of around Rs 15,580 has created a stir in the market.

Gold is also not far behind in the race

Seeing the speed of silver, gold was not going to lag behind. The price of 24 carat gold has also now reached around Rs 1.62 lakh per 10 grams. Forgetting the decline of the last few days, buying has returned to the market.

Gold was recorded at Rs 1,61,710 in Delhi, Rs 1,61,580 in Mumbai and Kolkata, Rs 1,62,540 in Chennai and Rs 1,61,580 per 10 grams in Bengaluru. That means the shine of gold also remains intact.

Why the market turmoil?

Experts say that there are three big reasons behind this. First, the increasing tension between America and Iran. The ongoing talks regarding the nuclear program have not yielded any concrete results, which has created fear among investors.

The second reason is America’s new 15% tariff policy, which has affected global trade. The third and important reason is the weakness of the dollar. When the dollar weakens, the shine of gold and silver automatically increases.

Eye on Oman talks

Everyone’s eye is on right now oman I am in ongoing talks. If there is no agreement between America and Iran, then precious metals may rise further.

There is an atmosphere of fear and uncertainty in the market. In such a situation, even small news can make the prices go up or down. Therefore investors should keep an eye on every update.

Read Also:Gold Silver Prices Live Updates: Gold below ₹ 1.60 lakh, silver also slipped – know today’s latest price

Investors vs. Buyers: What to do?

If you are a common buyer and are thinking of buying jewellery, then it might be wise to wait a little longer. After such a huge surge, buying in a hurry can be heavy on the pocket.

At the same time, this could be an opportunity for investors who have been waiting for a long time to make profits. But keep in mind, market movement depends on politics and global situation. This will decide in the coming days whether the momentum of silver will remain intact or it will cool down.