Silver Price Today: Silver becomes cheaper on the first day of the week; check the latest rates in your city..
Silver Price Today: Silver prices are showing movement on the first day of the week. On the Multi Commodity Exchange (MCX), silver futures fell by 0.08%—a decline of ₹149—to stand at ₹2,25,606 per kilogram; in the previous trading session, silver had closed at ₹2,25,755 per kilogram. According to bullion market data, the price of silver stood at ₹2,25,950 per kilogram. Meanwhile, according to GoodReturns, the price of silver was ₹2,40,000 per kilogram.
Factors such as industrial demand, fluctuations in the international market, and the rupee's exchange rate against the US dollar can influence domestic silver prices. Prices may vary across different cities depending on local market conditions.
Let us take a look at the latest silver prices in major Indian cities on October 12:
City Price of 1 kg Silver
Delhi ₹ 2,40,000
Mumbai ₹ 2,40,000
Kolkata ₹ 2,40,000
Chennai ₹ 2,45,000
Lucknow ₹ 2,40,000
Patna ₹ 2,40,000
Jaipur ₹ 2,40,000
Ahmedabad ₹ 2,40,000
Pune ₹ 2,40,000
Bengaluru ₹ 2,40,000
Hyderabad ₹ 2,40,000
Bhopal ₹ 2,40,000
Chandigarh ₹ 2,40,000
Noida ₹ 2,40,000
Gurugram ₹ 2,40,000
Silver's Movement? Silver prices can be influenced by international market trends, the movement of the US dollar, and the status of the rupee. While the recent rebound following a decline signals a market recovery, the possibility of continued price volatility cannot be ruled out. Investors should monitor trends in the domestic futures market and international prices before deciding to buy or invest in silver.
Market experts note that the daily chart for spot silver indicates the price is trading within a triangle pattern. The recent surge in the silver market stemmed from support at the triangle's lower boundary. The price is now moving towards the 50-day SMA, situated around the $64 level.
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