Tue Jan 20 08:00:00 UTC 2026: ### Silver Prices Soar to Record Highs in India, Surpassing ₹3 Lakh per Kilo

The Story:

Silver and gold prices in India have reached all-time highs for the second consecutive day on January 20, 2024. According to the India Bullion and Jewellers Association (IBJA), silver prices crossed the ₹3 lakh mark per kilogram in the bullion market for the first time, surging by ₹10,888 to reach ₹3,04,863. This follows a previous closing price of ₹2,93,975. On the Multi Commodity Exchange (MCX), silver had already surpassed the ₹3 lakh mark the previous day. In just 20 days of the year, silver prices have increased by ₹74,443. Gold also saw a significant increase, rising by ₹2,429 to reach ₹1,46,375 per 10 grams, compared to the previous day’s ₹1,43,946. Gold prices have increased by ₹13,180 so far this year. Experts predict further increases, with silver potentially reaching ₹4 lakh this year.

Key Points:

  • Silver prices hit an all-time high of ₹3,04,863 per kilogram on January 20, 2024.
  • Silver prices increased by ₹10,888 on January 20, 2024.
  • Silver prices have surged by ₹74,443 in the first 20 days of 2024.
  • Gold prices reached ₹1,46,375 per 10 grams on January 20, 2024.
  • Gold prices increased by ₹2,429 on January 20, 2024.
  • Gold prices have increased by ₹13,180 so far in 2024.

Key Takeaways:

  • Precious metals are experiencing significant price appreciation in the Indian market.
  • Silver is outperforming gold in terms of percentage gains within the given timeframe.
  • Market analysts anticipate further increases in both gold and silver prices, especially silver.
  • The appreciation is likely driven by factors affecting silver more dramatically, as indicated in the primary source (though the source lacks detail about those factors).
  • The data presented indicates a strong upward trend in precious metal investments.

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