Silver Rates Are Flat This Week In India, Check Silver Rates In Major Cities Here

Indian silver rates are flat this week, however, with a bearish trend, investors can buy the precious metal now. Today, on July 19, the silver price is quoted at Rs. 5560/100 grams, falling by Rs. 40/100 grams. In the international markets, commodities are under pressure at present. With the fear of high-interest rate further, precious metal prices are down now.

Today, in the Comex futures market, silver was quoted at $55722.00 falling by 0.72%, and yesterday the metal closed at $18.84. In the past 1 year, in Comex silver prices have fallen sharply by 29.73%. In the spot market, silver prices stood at $18.86, gaining by 0.35%. Significantly, the US dollar index in the spot market stood at 106.67, falling by 0.71%. In the Mumbai Commodity Exchange (MCX), silver September futures are quoted at Rs. 55722/kg, falling by 0.66%.

"September silver futures bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $20.00 an ounce. The next downside price objective for the bears is closing prices below solid support at $17.50. First resistance is seen at $19.00 and then at $19.36. Next support is seen at today's low of $18.51 and then at $18.00," analyst Jim Wyckoff told Kitco News, estimating the upcoming silver rates for investment.

Today's silver rates in important Indian cities:

City	Silver rate (100 grams)
Mumbai	Rs. 5560
Delhi	Rs. 5560
Ahmedabad	Rs. 5560
Kolkata	Rs. 5560
Chennai	Rs. 6070
Bangalore	Rs. 6070
Hyderabad	Rs. 6070