Silver price today: Slips 3.13% from record high of Rs 2 lakh; check 10g, 100g, 1 Kg prices in your city

Silver Price Today

Silver opened at Rs 1,95,298 for a kilo on the MCX, down 3.13 percent after hitting a new high of Rs 2,01,615 in the previous session.

In the international market, spot silver was trading lower at $62 an ounce in December.

Here is how silver is trading:

Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

The Augmont Bullion report published on December 15, noted that silver has seen a very sharp run-up in prices and advised profit booking at these levels. The increase in Silver to the Rs 2 lakh level has been fueled by tightening stocks, strong industrial demand, and the metal's inclusion on the US key minerals list. For silver, $65 (Rs 2,00,000) will be a difficult nut to crack. Prices are expected to touch the support of $60.50 (Rs 1,88,000) before rising higher to the resistance.

Demand has been especially robust in the solar, electric vehicle, and data centre sectors. Strong ETF inflows and retail buying bolstered forecasts of a market deficit next year. At the same time, rising leasing rates and higher borrowing prices for physical silver in London hinted at persistent delivery issues, the report said.