Silver Prices Surge By Rs. 300 In Last 3 Days In India, See Silver Performances To Invest

Silver prices in India have surged by Rs. 300/1 kg. in the past three days. On July 9, the silver price is quoted at Rs. 5720/100 grams, gaining by Rs. 20/100 grams. In line with the international trends, the metal has gained in India today. However, the gain is quite a short-term movement. Silver has been one of the worst-performing metals this year. On a year-to-date basis, silver has fallen by around 18%. The interest rate hikes by the US have impacted this fall.

Analysts are bearish about silver now e remains bearish, "taking tactical shorts on U.S equities on any significant bounce targeting the Nasdaq and Russell 2000. The leveraged stocks that make up these indices are most at risk during a recession. We carry a bullish outlook on China as it continues to stimulate its economy, which will have a spillover effect on Copper and Silver," said analyst Phillip Streible to Kitco News. Additionally, the oil prices are also bullish now and is expected to be the same in near future.

Today, in the Comex futures market, silver was quoted at $19.23 gaining by 0.24%, and yesterday the metal closed at $19.188. In the past 1 year, in Comex silver prices have fallen sharply by 26.58%. In the spot market, silver prices stood at $19.40, gaining by 0.49%. Significantly, the US dollar index in the spot market surged to 106.91, gaining by 0.05%. In the Mumbai Commodity Exchange (MCX), silver September futures are quoted at Rs. 57,148/kg, surging by 0.37%.

Today's silver rates in important Indian cities:

City	Silver rate (100 grams)
Mumbai	Rs. 5720
Delhi	Rs. 5720
Ahmedabad	Rs. 5720
Kolkata	Rs. 5720
Chennai	Rs. 6280
Bangalore	Rs. 6280
Hyderabad	Rs. 6280