Silver Prices Up Above 2% In Comex Futures, Indian Silver Rates Gain By Rs. 680

Today, the US dollar is showing a weak performance in the spot market, pushing the commodity prices above. Gold and silver both are performing well globally. Today, on September 6, in India, the silver price gained by Rs. 680/kg, taking the metal's rate to Rs. 53,900/kg. In Chennai, Bangalore, and Hyderabad silver price is quoted at Rs. 59,000/ kg.

Investors are also waiting for the next US Federal Reserve meeting that will start on September 21. In the meeting, the central bank is expected to raise the interest rate by 75 bps, which will boost the US Bond Yields. So, the commodity markets can again come under pressure. Investors are now also looking forward to the rest of the session highlights like UK and EZ construction PMI and US ISM services PMI, to estimate the upcoming commodity prices.

However, risk sentiments remain in the Asian stock markets, Nikkei stood at 27,626.51 points, up only by 0.02%, while Hang Seng Index stood at 19,202.73 points falling by 0.12%, at the time of writing.

In the Comex futures, silver was quoted at $18.195 up by 1.76%, and yesterday the metal closed at $17.88. In the past 1 year, in Comex silver prices have fallen sharply by 26.99%. In the spot market, silver prices stood at $18.41, up by 0.88%. Significantly, the US dollar index in the spot market stood at 109.81, down marginally from the last trading day. In the Mumbai Commodity Exchange (MCX), silver September futures are quoted at Rs. 53866/kg, gaining by 0.89%.

Today's silver rates in major Indian cities:

City	Silver rate (100 grams)
Mumbai	Rs. 5390
Delhi	Rs. 5390
Ahmedabad	Rs. 5390
Kolkata	Rs. 5390
Chennai	Rs. 5900
Bangalore	Rs. 5900
Hyderabad	Rs. 5900