Gold Silver Price Hike : After witnessing a sharp decline in October, gold and silver prices have started rising again. Following a few days of falling prices at the beginning of November, both precious metals have regained momentum. On Thursday, silver futures on the Multi Commodity Exchange (MCX) crossed Rs 1.90 lakh per kilogram. Gold prices also moved above Rs 1.45 lakh per 10 grams. This has disappointed buyers who were waiting for prices to fall further.

Gold Becomes Rs 2,875 More Expensive
On Thursday, 24-carat gold futures expiring on December 4 opened at Rs 1,46,109 per 10 grams on the MCX. Gold had closed at Rs 1,43,234 on Wednesday. This means its price increased by Rs 2,875 per 10 grams in a single trading session. The continuous rise in prices could increase concerns among people planning to purchase gold.

Gold Prices Had Fallen During October
Gold prices witnessed a significant decline during October. On September 30, the price of 10 grams of gold on the MCX stood at Rs 1,49,036. By October 30, it had fallen to Rs 1,38,485. This means gold became cheaper by Rs 10,551 per 10 grams in one month. However, prices have now increased by Rs 7,624 compared with the final trading day of October.

Silver Prices Also Cross Rs 1.90 Lakh
Along with gold, silver prices have also registered a sharp rise. On Tuesday, the price of one kilogram of silver on the MCX had fallen to Rs 1,79,698. It then jumped to Rs 1,87,735 on Wednesday. The upward trend continued on Thursday, with silver gaining Rs 3,211 to reach Rs 1,90,946 per kilogram.

Silver Jumps Rs 11,248 In Two Days
The extent of the recent rally in silver prices can be understood from the fact that its price has increased by Rs 11,248 per kilogram between Tuesday and Thursday. While one kilogram of silver cost Rs 1,79,698 on Tuesday, it reached Rs 1,90,946 on Thursday. This means silver has become more than Rs 11,000 costlier in just two days.

Silver Had Become Rs 44,574 Cheaper In October
Silver prices had also witnessed a major decline in October. On September 30, one kilogram of silver was priced at Rs 2,23,706 on the MCX. By October 30, the price had dropped to Rs 1,79,132. As a result, silver became cheaper by Rs 44,574 per kilogram in just one month. However, the trend has changed in November, with prices once again moving upwards.