The bullion market has been bullish after the US Fed Reserve cut interest rates by 0.50 percent. The price of the precious metal has skyrocketed due to the global markets as well as domestic demand outstripping income. According to rates issued by Ahmedabad Choksi Mahajan, gold in the domestic market today was Rs. 300 has managed to cross the level of 78000 for the first time, with the price of gold at Rs. 78100 per 10 grams has touched an all-time high. On the other hand silver is more Rs. 1000 rose to Rs. 90500 per kg has been quoted. According to market experts, the current calendar year has been a boon for the precious metal due to factors including geo-political crisis, weak US dollar, cut in interest rates, increase in industrial demand. Investors have seen returns of 29 percent in Comex gold and 34 percent in Comex silver so far in the current calendar year. 19.60 percent return in gold and 22.19 percent in silver has been released in the domestic market. MCX Silver has returned over 24 percent, MCX Gold has returned over 20 percent.

Silver Rs. Strong probability of crossing 100000 :
According to commodity market experts, the fall in interest rates globally, growth in demand for the precious metal by China, momentum in EV-green energy have boosted demand for silver. Which shows the strong possibility that silver will cross the six-digit figure i.e. 1 lakh by the end of the year. According to the International Energy Agency (IEA), global renewable capacity is expected to increase by 50% by 2030, which will boost industrial demand for silver.