Silver Prices Drop Amid Global Tensions
Silver prices have seen a significant drop amid geopolitical tensions. Market rates for both 10g and 100g silver bars are currently consistent across most Indian cities due to market closures.
Highlights
- •Geopolitical Tensions Impact Silver Prices
- •Silver Futures Fall by ₹10,901
- •City-Wise Silver Rates Remain Steady Across India
- •Market Closed Due to Public Holidays
The silver market saw a notable decline this week, especially amid the ongoing geopolitical tensions involving Iran, Israel, and the United States. The drop can be attributed to a mix of factors including global trade dynamics and investor sentiment.
According to reliable data, silver futures prices on the Multi Commodity Exchange (MCX) have dropped by ₹10,901, currently trading at ₹232,600 per kilogram. By Thursday's market close, the Indian Bullion and Jewellers Association reported a fall to ₹227,813 per kilogram.
Given that most markets are closed for Good Friday, Saturday, and Sunday due to national holidays, investors remain cautious before making any purchasing decisions. It is advisable to check the latest rates if you are considering buying silver today.
City-Wise Silver Prices
All across India, the cost per 10 grams of silver remains consistent at ₹2,500 while 100 grams sells for ₹25,000. Some key cities where you can find these rates include:
- Ahmedabad: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Bangalore: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Bhubaneswar: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Chandigarh: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Chennai: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Delhi: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Hyderabad: 10g Silver Price - ₹2,500, 100g - ₹25,000
- Jaipur: 10g Silver Price - ₹2,500, 100g - ₹25,000
Meanwhile, in Kolkata and Lucknow, the cost per 10 grams is also ₹2,500 with 100 grams priced at ₹25,000.
