Indian Silver Rates Fall By Rs. 400 Today, Prices Down 1.02% In July: See Gold & Silver Trend


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oi-Kuntala Sarkar

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Indian silver rates were mostly bearish since April this year. Although in July, the trend remained the same, but the range of price drop has improved a bit. In April silver fell by 6.07%, In May silver fell by 2.99%, and in June the metal fell by 3.30% domestically. However, showing an improvement, in July, silver prices fell only by 1.02%. Both Indian gold rates and silver rates revived in July, following the international trend. Since the first week of August, the US dollar index has fallen marginally, as a result, the metals’ prices surged a bit. Analysts are expecting a better performance from metals like gold and silver in the domestic markets.

Silver Rates Fall By Rs. 400 Today, Down 1.02% In July: See Gold & Silver Trend

However, Indian silver prices are marginally bearish today like the global trend. The metal’s rate, on August 12, in India, is quoted at Rs. 5850/100 grams, falling sharply by Rs. 40/ 10 grams. So, the silver rate fell by Rs. 400 per 1 kg investment today.

Today, in the Comex futures market, silver was quoted at $20.34 falling by 0.04%, and yesterday the metal closed at $20.349. In the past 1 year, in Comex silver prices have fallen sharply by 13.21%. In the spot market, silver prices stood at $20.46, gained by 0.37%. Significantly, the US dollar index in the spot market stood at 105.36, amplified marginally by 0.23%. In the Mumbai Commodity Exchange (MCX), silver September futures are quoted at Rs. 58543/kg, surging by 0.28%.

Today’s silver rates in major Indian cities:

City Silver rate (100 grams)
Mumbai Rs. 5850
Delhi Rs. 5850
Ahmedabad Rs. 5850
Kolkata Rs. 5850
Chennai Rs. 6440
Bangalore Rs. 6440
Hyderabad Rs. 6440

Story first published: Friday, August 12, 2022, 13:26 [IST]



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