Silver Price Update: Silver ₹1.95 Lakh Below Record High, Check Latest Rates Today
Silver Price trends remained highly volatile this week as both gold and silver witnessed sharp movements in the bullion market. While silver prices jumped significantly on the Multi Commodity Exchange (MCX), the precious metal is still trading nearly ₹1.95 lakh per kilogram lower than its all-time high. Gold prices also recorded gains during the week but continue to remain over ₹50,000 cheaper than their peak levels.
According to the latest figures released by the Indian Bullion and Jewellers Association (IBJA), the domestic bullion market ended the week on a strong note, reflecting renewed investor interest in precious metals.
Latest Gold and Silver Rates in India
As per IBJA data at Friday’s market close:
Since bullion markets remain closed on Saturdays and Sundays, these rates will continue to apply over the weekend.
Gold Prices Rise During the Week
Gold prices witnessed a steady upward trend throughout the week on the MCX. The June 5 expiry contract for 10 grams of gold was trading at ₹1,51,352 on May 1. By the end of the week, the same contract climbed to ₹1,52,589 per 10 grams.
This indicates an increase of ₹1,237 per 10 grams within just a few trading sessions.
Despite this weekly rise, gold remains considerably below its record levels. Current market prices show that 24-carat gold is still cheaper by around ₹50,395 per 10 grams compared to its all-time peak.
Silver Price Surges Over ₹11,000 in Five Days
Silver prices recorded even sharper movement compared to gold. On the MCX, the July 3 expiry silver futures contract closed at ₹2,50,937 per kilogram on May 1. By last Friday, the price had surged to ₹2,61,999 per kilogram.
This means silver prices increased by ₹11,062 per kilogram in just five trading days. The rise reflects growing activity in the precious metals market amid fluctuating global trends and investor demand.
Silver Still ₹1.95 Lakh Below Peak Level
Although silver prices moved sharply higher this week, the metal is still trading significantly lower than its historic high.
Silver had touched a record level of ₹4,57,328 per kilogram on January 29. Compared to that peak, current prices are lower by ₹1,95,329 per kilogram.
This massive gap highlights the extent of correction silver has seen after hitting record highs earlier this year.
What Is Driving Bullion Market Volatility?
Market experts believe that global economic uncertainty, changing interest rate expectations, and fluctuations in international commodity prices continue to influence gold and silver rates.
Investors are closely tracking inflation trends, central bank policies, and geopolitical developments, all of which are contributing to frequent swings in bullion prices.
Should Investors Track Silver Prices Closely?
Silver remains one of the most actively tracked precious metals due to its dual role as both an industrial and investment asset. Sharp price fluctuations often create opportunities for traders and long-term investors alike.
With silver still trading far below its peak despite the latest rally, market participants are expected to keep a close eye on upcoming price movements in the bullion market.
According to the latest figures released by the Indian Bullion and Jewellers Association (IBJA), the domestic bullion market ended the week on a strong note, reflecting renewed investor interest in precious metals.
Latest Gold and Silver Rates in India
As per IBJA data at Friday’s market close:
- Gold price stood at ₹1,51,078 per 10 grams
- Silver price reached ₹2,55,600 per kilogram
Since bullion markets remain closed on Saturdays and Sundays, these rates will continue to apply over the weekend.
Gold Prices Rise During the Week
Gold prices witnessed a steady upward trend throughout the week on the MCX. The June 5 expiry contract for 10 grams of gold was trading at ₹1,51,352 on May 1. By the end of the week, the same contract climbed to ₹1,52,589 per 10 grams.
This indicates an increase of ₹1,237 per 10 grams within just a few trading sessions.
Despite this weekly rise, gold remains considerably below its record levels. Current market prices show that 24-carat gold is still cheaper by around ₹50,395 per 10 grams compared to its all-time peak.
Silver Price Surges Over ₹11,000 in Five Days
Silver prices recorded even sharper movement compared to gold. On the MCX, the July 3 expiry silver futures contract closed at ₹2,50,937 per kilogram on May 1. By last Friday, the price had surged to ₹2,61,999 per kilogram.
This means silver prices increased by ₹11,062 per kilogram in just five trading days. The rise reflects growing activity in the precious metals market amid fluctuating global trends and investor demand.
Silver Still ₹1.95 Lakh Below Peak Level
Although silver prices moved sharply higher this week, the metal is still trading significantly lower than its historic high.
Silver had touched a record level of ₹4,57,328 per kilogram on January 29. Compared to that peak, current prices are lower by ₹1,95,329 per kilogram.
This massive gap highlights the extent of correction silver has seen after hitting record highs earlier this year.
What Is Driving Bullion Market Volatility?
Market experts believe that global economic uncertainty, changing interest rate expectations, and fluctuations in international commodity prices continue to influence gold and silver rates.
Investors are closely tracking inflation trends, central bank policies, and geopolitical developments, all of which are contributing to frequent swings in bullion prices.
Should Investors Track Silver Prices Closely?
Silver remains one of the most actively tracked precious metals due to its dual role as both an industrial and investment asset. Sharp price fluctuations often create opportunities for traders and long-term investors alike.
With silver still trading far below its peak despite the latest rally, market participants are expected to keep a close eye on upcoming price movements in the bullion market.
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