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

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.

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: