Tue Dec 30 03:40:00 UTC 2025: Okay, here’s a summary of the text and a rewritten version as a news article:

Summary:

The price of silver experienced significant volatility on December 29th. The commodity market opening saw a surge of over ₹9,000 per kilogram, with gold also experiencing an increase. While silver saw a high of ₹2,36,907 per kilogram, it experienced a sharp decline later in the day, attributed to the situation between Russia and Ukraine. Prices vary across cities, with Kanpur and Lucknow currently having the highest rates. Commodity expert Ajay Kedia advises investors to avoid fresh investments in silver due to the current instability, suggesting waiting for price stabilization. Elon Musk has expressed concern over the price surge, highlighting its widespread use in various industrial processes.

News Article:

Silver Prices Surge, Then Plunge Amid Market Volatility; Experts Advise Caution

New Delhi, [Date] – The silver market witnessed dramatic fluctuations yesterday, December 29th, with prices initially soaring by over ₹9,000 per kilogram upon the commodity market’s opening. Gold also saw a concurrent rise.

As of 9:45 AM, silver prices were up ₹9,053 per kilogram. In the MCX market, at 9:55 AM, 1 kg of silver was trading at ₹2,33,890, a jump of ₹9,461. Silver hit a high of ₹2,36,907 per kilogram during the trading session.

However, the initial surge was followed by a sharp decline later in the day. After opening up ₹10,000, the value of silver dropped ₹21,000 by the end of the day. The shift in price has been attributed to the situation between Russia and Ukraine.

Regional variations in silver prices are evident, with Kanpur and Lucknow currently exhibiting the highest rates, trading at ₹233,820 per kilogram. Raipur has the lowest price in the region, at ₹2,33,510 per kilogram.

Commodity expert Ajay Kedia advises investors to exercise caution amidst the volatility. “The current market conditions are not suitable for fresh investments in silver,” Kedia stated, suggesting that investors wait for price stabilization before considering any purchases. Kedia also forecasts a possible silver price value of ₹3,00,000 by 2026.

Tech entrepreneur Elon Musk has also voiced concerns over the rising silver prices, emphasizing the metal’s crucial role in various industrial processes, including electronics, solar technology, and electric vehicles. “Silver price increases are a concern,” Musk tweeted. “It’s used in so many industrial processes.” He worries that the surge in the price will negatively affect industry.

Investors are advised to closely monitor market developments and consult with financial advisors before making any investment decisions.

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