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Indian Silver Rate Revives Sharply By Rs. 800, At Highest Level In August Today


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oi-Kuntala Sarkar

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Indian silver rates are significantly up today, following the international price trend. Silver prices, on August 13, in India, are quoted at Rs. 5930/100 grams, gaining sharply by Rs. 80/100 grams. So, the silver rate surged by Rs. 800 per 1 kg investment today. In the international markets, the metal has surged impressively today.

Today, in the Comex futures market, silver was quoted at $20.835 gaining by 2.39%, and yesterday the metal closed at $20.349. In the past 1 year, in Comex silver prices have fallen sharply by 11.08%. In the spot market, silver prices stood at $20.97, gained by 2.88%. Significantly, the US dollar index in the spot market stood at 105.67.

Commenting on the silver market trend, Jim Wyckoff told Kitco News, “September silver futures bears have the overall near-term technical advantage. However, bulls are working on a price uptrend on the daily bar chart. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $22.00. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at Thursday’s high of $20.605 and then at this week’s high of $20.83. Next support is seen at $20.19 and then at $20.00.”

Today’s silver rates in major Indian cities:

CitySilver rate (100 grams)
MumbaiRs. 5930
DelhiRs. 5930
AhmedabadRs. 5930
KolkataRs. 5930
ChennaiRs. 6480
BangaloreRs. 6480
HyderabadRs. 6480

Story first published: Saturday, August 13, 2022, 14:31 [IST]



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