Silver Rate in India Surges By Rs. 10000 Today Amid US-Iran Tensions: Check Latest Prices City-Wise, March 10

Silver prices in India today observed a spike after declining slightly by Rs. 5000 on Monday. The surge in silver prices today came after the drop in US Dollar and Crude prices which supported the precious metal. Both gold & silver are trading higher in domestic & international bourses.

Silver has remained volatile over the last 60 days where it touched both all-time high and recorded a massive crash. Presently in the international market spot silver added some gains after recent declines and is now above the $88 per ounce mark.

"The surge in crude oil prices, which soared 37.91% to $102.96 per barrel (about ₹9,498), has intensified concerns over rising costs, dampening the allure of precious metals as safe-haven investments. Additionally, geopolitical tensions, particularly the conflict involving the U.S. and Iran, further contributed to market volatility, despite typically boosting demand for gold and silver." said Gaurav Garg, Research Analyst at Lemonn Markets Desk

The surge in silver rate today was seen across major cities, including Bangalore, Delhi, Hyderabad, Chennai and Ahmedabad.

Silver Rate Today In India

On March 10, silver rate in India jumped by Rs. 10000 to cost Rs. 2,90,000 per kg, while the silver rate per 100 gram hovered near Rs. 29,000 after rising by Rs.100

According to a report by Nirmal Bang Securities, "Silver prices are expected to rise. Traders can buy at 280000 with a stop loss of 274000 for the target at 288000-293000."

MCX Silver Futures Prices

Silver on MCX is posting gains this morning. As of 10 am Silver futures prices were trading 3.62% higher at Rs. 2,76,823 per Kg.

As a report by IBJA "We expect precious metals prices on Indian bourses to trade rangebound to slightly higher for the day; as gold and silver prices advanced after President Donald Trump signaled the war in the Middle East could be nearing an end, sending the US dollar and oil prices lower."

Spot Silver Prices

Silver prices in the international market rose on Wednesday due to a fall seen in treasury yields ahead of key US jobs data. According to Reuters, Spot ​silver rose 2% to $88.73 per ounce

Silver Prices in Other Major Indian Cities On March 10

Chennai + Hyderabad

Both Silver prices in Chennai & silver prices in Hyderabad today jumped by Rs. 10000 to trade at Rs. 3,00,000 per kg.

Bangalore + Mumbai

Similarly silver rate in Bangalore & silver prices today Mumbai were retailing at same levels , on March 10, at Rs. 2,90,000 per 1 kg after rising by Rs. 10000.

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