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Indian Silver Price Sharply Down, Falls By Rs. 1500, Check Rates In The Cities Today

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Reflecting the international trend, Indian silver prices are sharply sown today. Silver price, on August 16, in India, is quoted at Rs. 5780/100 grams, falling by Rs. 150/100 grams. So, the silver price plunged by Rs. 1500 per 1 kg investment.

 
Indian Silver Price Sharply Down, Falls By Rs. 1500, Check Rates In The Cities

Today, in the Comex futures market, silver was quoted at $20.09 falling by 0.90%, and yesterday the metal closed at $20.272. In the past 1 year, in Comex silver prices have fallen sharply by 16.35%. In the spot market, silver prices stood at $20.23, gained by 0.67%. Significantly, the US dollar index in the spot market stood at 106.46, falling by 0.01%.

Commenting on the silver market trend, Jim Wyckoff told Kitco News, "September silver futures bears have the overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.00. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at the overnight high of $20.25 and then at $20.50. Next support is seen at $19.745 and then at $19.47."

Today's silver rates in major Indian cities:

CitySilver rate (100 grams)
MumbaiRs. 5780
DelhiRs. 5780
AhmedabadRs. 5780
KolkataRs. 5780
ChennaiRs. 6340
BangaloreRs. 6340
HyderabadRs. 6340

Read more about: silver prices silver
Story first published: Tuesday, August 16, 2022, 23:40 [IST]
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