Silver Prices Spiked After Demand for Bars And Coins

MCX Silver Tips: Buy MCX September Silver Futures at Rs 81,200—81,000 with a stop loss

Silver prices spiked after retail sites were overwhelmed with demand for bars and coins at the weekend. Comments on Reddit forum r/WallStreetBets suggested people buy exchange-traded funds linked to the metal because prices have been kept artificially low.

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Gold Prices Down by Rs 8,500 and Silver Rs 14,500 in last Five Months

Gold Prices

Gold prices witnessed a massive plunge in the past week and dropped to Rs 48,702 per 10 gram on the last trading day of the week. On Friday, gold prices registered a steep fall of Rs 519 on the MCX exchange, while the gold futures price of April 5, 2021, was closed at Rs 48,715 per 10 grams with a decline of 514 rupees on MCX on the last trading day of the week.

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