chandi / silver price rise
Silver Price Rises To Rs 3 Lakh Per Kg, This Is Why The Price Increased Overnight : The price of silver on the Indian futures market (MCX) has surpassed the ₹3 lakh per kg mark. Silver, which was hovering around ₹95,000-96,000 per kg in April, has now skyrocketed to ₹300,532. This meteoric rise in the market isn’t just the result of normal demand, but rather a new economic “war” between the world’s two superpowers, the United States and Europe.
Money tripled in 9 months
If you had invested in silver instead of stocks or land over the past nine months, your profits would have astonished everyone. Since April, silver has delivered returns of over 200 percent to investors. In stock market parlance, this is the equivalent of a “multibagger” stock.
Surprisingly, prices have already surged by nearly 25 percent in January alone. Currently, silver has become the best-performing investment asset, surpassing all other asset classes (such as property or stocks).
The threat of a trade war
The primary reason for this market panic is US President Donald Trump and his ambitious plans. Trump is making a strong push to acquire Greenland. European countries that opposed his plans are now Trump’s target. Trump has made it clear that he will impose heavy tariffs on eight European countries, including France, Germany, and Britain.
It is reported that a 10% tariff will be imposed on goods from these countries starting February 1st, increasing to 25% by June. This move by the US has frightened investors. Whenever a trade war erupts between two major countries, people consider it safer to withdraw money from the currency or stock market and invest it in gold and silver, and this is precisely what is happening now.
America and Europe are facing each other
The issue isn’t limited to just US action. The European Union (EU) is also in no mood to sit idly by. According to reports, French President Emmanuel Macron and other European leaders are preparing a counterattack. Europe could use its most powerful weapon against the US, the Anti-Coercion Instrument (ACI). Under this, there are talks of imposing retaliatory taxes of approximately 93 billion euros ($108 billion) on American goods.
This tension is having a direct impact on global markets. Spot gold rose 1.6% to $4,668 per ounce in Singapore, and silver surpassed $93. Metals like platinum and palladium have also regained their luster.
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