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Silver Rate Falls Highest In Past 10 Days: Good Time To Invest?

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Indian silver rates have been a bit flat this trading week. However, the metal has fallen to its highest level in the past 10 days. Today, on June 25, the silver rate was quoted at Rs. 5980/100 grams in India, falling by Rs. 20/100 grams. This month, silver prices have been quite volatile. Each week, the metal has been influenced by international data on inflation and interest rates. Recently, many countries have raised interest rates to control the rising inflation rates.

 
Silver Rate Falls Highest In Past 10 Days: Good Time To Invest?

Interest rate hikes leave significant impacts on the commodity markets, while inflation helps the commodities to stay bullish, interest rate hikes pull the commodity market to stay bearish. However, at present, the impact of the inflation rate is so high that most of the metals are staying bullish. But, silver prices on the futures markets have fallen sharply now, compared to the 2021 levels. In the past 1 year, the silver rates have dropped by 19.59% on Comex.

Today, in the Mumbai Commodity Exchange (MCX), silver July futures are quoted at Rs. 59755/kg, gaining by 0.42%. In the Comex futures market, silver was quoted at $21.13, surging by 0.42%, and yesterday the metal closed at $21.04. This month has not been a very significant time for retail sales for the metal markets, however, silver is largely used in the industrial sectors. So, the demand of silver will always be in place.

Today's silver rates in important Indian cities:

Read more about: silver prices silver
Story first published: Saturday, June 25, 2022, 23:54 [IST]
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