Silver prices today: Another new high after Fed rate-cut cheer; Check 24K, 22K, 18K prices in your city

Silver Prices Today

Silver climbed to a new high on December 11 after the US Federal Reserve cut the lending rate by 25 basis points (bps) and on rising demand from the technology sector.

At 9 am, silver was hovering around $62 for an ounce in the spot market where investors buy and sell the precious metal for immediate delivery.

In the domestic market silver opened at Rs 1,92,408 for a kilogram in the futures market, where investors buy and sell contracts at a predetermined price.

Silver, which hit the $60-mark for the first time on December 10, largely over the widely anticipated 25 bps cut by the US Fed, gained 8.58 percent in a week and 21.09 percent in a month.

Check out below to see the prices of 1 kilogram of 999 purity silver.

Silver Rates in India Today (₹)

Source: Goodreturns

Silver rates across India were largely uniform, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Silver Rates in Top Indian Cities Today (₹)

Source: Goodreturns

"Silver marked an all-time high on domestic as well as on COMEX, as market participants digest yet another cautious cut by the US central bank. Fed delivered a 25-basis-point rate cut in a divided vote, but signal;ed that borrowing costs are unlikely to drop further as it waits for clearer signs on a softening job market and inflation that remains firm,” said Manav Modi, Commodities Analyst (Precious Metal Research) at Motilal Oswal Financial Services Ltd.

“This strong uptick is reflective of fresh bets from traders in anticipation of healthier trends from global manufacturing,” said Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA).

Kamboj warns of intraday volatility, given the pace of the rise, though the bias remains firm. “Further movement will likely be determined by how industrial metals perform globally and whether risk appetite continues to strengthen,” she added.