Silver Rates Marginally Gain In India, Up To Rs. 5590: Check Prices In Major Cities

Silver prices in India have gained marginally today. Today, on July 19, the silver price is quoted at Rs. 5590/100 grams, gaining by Rs. 30/100 grams. In the international markets also, the precious metal has surged today, driving the silver rates in the country. However, in June, silver rates in India has fallen by 3.30%, and the trend is being continued in July. So, it is a good time for investors to buy, if interested alternative assets.

Today, in the Comex futures market, silver was quoted at $18.77 gaining by 0.30%, and yesterday the metal closed at $18.713. In the past 1 year, in Comex silver prices have fallen sharply by 25.07%. In the spot market, silver prices stood at $18.92, gaining by 0.40%. Significantly, the US dollar index in the spot market stood at 106.81, gaining by 0.13%. In the Mumbai Commodity Exchange (MCX), silver September futures are quoted at Rs. 55863/kg, gaining by 0.24%.

Commenting on the upcoming silver prices, analyst Jim Wyckoff told Kitco News, "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. The next downside price objective for the bears is closing prices below solid support at $17.00. First resistance is seen at today's high of $19.03 and then at $19.36. Next support is seen at this week's low of $18.51 and then at $18.00."

Today's silver rates in important Indian cities:

City	Silver rate (100 grams)
Mumbai	Rs. 5590
Delhi	Rs. 5590
Ahmedabad	Rs. 5590
Kolkata	Rs. 5590
Chennai	Rs. 6100
Bangalore	Rs. 6100
Hyderabad	Rs. 6100