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 in India Today (₹) | |
|---|---|
| Type | Price (₹) |
| 1 Gram of Pure Silver | 197.90 |
| 10 Grams of Pure Silver | 1,979 |
| 100 Grams of Pure Silver | 19,790 |
City-wise silver prices in India today
Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.
Silver Rates in Top Indian Cities (₹) City 10 Gram 100 Gram 1 Kg Chennai 2,130 21,300 2,13,000 Mumbai 1,979 19,790 1,97,900 Delhi 1,979 19,790 1,97,900 Kolkata 1,979 19,790 1,97,900 Bangalore 1,979 19,790 1,97,900 Hyderabad 2,099 20,990 2,09,900 Kerala 2,099 20,990 2,09,900 Pune 1,979 19,790 1,97,900 Vadodara 1,979 19,790 1,97,900 Ahmedabad 1,979 19,790 1,97,900
Why are silver prices rising?
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.
Outlook: Will silver regain momentum this week?
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
