Silver futures slip by Rs.124 due to global cues
The silver price in Delhi fell by Rs.124 to Rs.47,376 per kg as various speculators cut down their exposure even though the metal showed a firm trend in global markets.
The major reason for the fall in prices was the weakened domestic demand of the white metal. On the Multi Commodity Exchange, silver for delivery most-traded December was trading at a percentage low of 0.26% at Rs.47,376 per kg in a business turnover of 5,118 lots.
The metal for delivery for March 2020 fell by Rs.62 or 0.13% and is trading at Rs.48,484 per kg in 48 lots. In the international market, the price of metal increased by 0.41% to USD 18.25 an ounce in New York.
13 September 2019
Silver prices increase by Rs.160 in Delhi
On 5 September 2019, silver prices increased in Delhi to hit Rs.50,110 for a kg, increasing by Rs.160. Silver prices had closed at Rs.49,950 for a kg on 4 September 2019.
Gold prices also increased by Rs.83 and hit Rs.39,271 for10 grams in Delhi. The price for 10 grams of 99.9% pure gold also hit Rs.39,271 on 5 September 2019. 10 grams of 99.9% pure gold had closed at Rs.39,188 on 4 September 2019. International markets saw a decrease in gold prices to $1,542 for an ounce. Silver prices also decreased to $19.35 for an ounce. According to a senior analyst at HDFC securities, Tapan Patel, there has been a decrease in gold prices because of the easing geopolitical tensions in Hong Kong and the progression in talks between China and the US.
6 September 2019
Silver Rate Soar On Volatile Markets, Rising Demand
Silver price echoed trends seen across the gold market, surging to record highs on the back of steady demand and positive overseas cues.
Silver rate jumped to Rs.48,850 per kg, recording a rise of Rs.2,110 on rising demand from coin makers and industrial units. Weekly-based silver delivery traded at Rs.46,416 per kg to record an increase of Rs.1,289.
The surge in local bullion rates reflected trends seen overseas, where silver traded 0.61% higher at $18.38 per ounce.
Ongoing trade tensions and the possibility of further interest rate cuts by the U.S. Federal Reserve also ramped up demand for safe-haven bullion. Fears of a recession due to weak U.S. Treasury yields also bolstered demand for precious metals, seen as a hedge against equity fluctuations.
28 August 2019
Silver price increase to Rs.46,740 for a kg
On 27 August 2019, prices for a kg of silver increased by Rs.190 to hit Rs.46,740. The main reason for the increase in prices is due to the increase in offtake by coin makers and industrial units.
According to the All India Sarafa Association, gold prices remained steady at Rs.39,670 for 10 grams on 27 August 2019 after rising for five days in a row. Prices of gold hit an all-time high of Rs.39,670 on 26 August 2019. Despite the easing worries in the trade talks between China and the US and the recovery in gold equity indices, gold prices were firm in the international markets. In the national capital, 10 grams of 99.5% and 99.9% pure gold remained at Rs.39,500 and Rs.39,670, respectively. 8 grams of sovereign gold was also steady at Rs.29,500. Ready silver increased by Rs.190 to hit Rs.46,740 for a kg. However, delivery of weekly-based silver decreased by Rs.164 to hit Rs.45,127 for a kg. There was high demand in silver coins as well. Buying of silver coins traded higher at Rs.96,000, increasing by Rs.2,000. Selling of 100 silver coins was at Rs.97,000.
27 August 2019
Silver prices fall by Rs.307 per kg in futures trade on Wednesday
Amid a weak trend in global markets, the rates of silver fell by Rs.307 per kg on Wednesday. Following the fall in the prices, the precious metal was trading at Rs.43,634 per kg. On the Multi Commodity Exchange, silver for delivery in September was trading lower by 0.7 percent in a business turnover of 4,019 lots. The metal for delivery in far-month December fell by Rs.322 or 0.71 percent and was trading at Rs.44,960 per kg in 458 lots. Globally, silver prices fell by 0.72 percent and was trading for $17.02 an ounce in Singapore.
21 August 2019
Price of gold reduces by Rs.100 due to decrease in demand
Gold prices in New Delhi saw a drop by Rs.100 on 31 July 2019 due to a decreased demand from local jewellers even though the price of the yellow metal remained flat globally.
According to All India Sarafa Association, silver rate in Delhi increased by Rs.70 to Rs.42,120 per kg due to increased offtake by industrial owners and coin makers.
Globally, the price of gold was trading at a flat price of $1,430.70 an ounce in New York as the investors were awaiting the outcome of the United States Federal Reserve’s meeting which happened on 31 July.
According to various sources, the United States Federal Reserve is expected to cut its benchmark interest rate for the first time in 10 years. Contrary to Indian silver price trends, globally the white metal is trending at a low of $16.54 per ounce.
In the National Capital Region, price of 99.9% pure gold was priced at Rs.35,780 per 10 grams and 99.5% gold, priced at Rs.35,610 per ounce, both falling by Rs.100. Meanwhile, silver ready gained by Rs.70, priced at Rs. 42,120 per kg and weekly-based delivery of the metal increased by almost Rs.200 to Rs.41,434 per kg.
31 July 2019
Silver Price climbs by Rs.150 and gold climbs by Rs.160 amidst increased local demand
Today, Price of silver also increased by Rs.150 to Rs.42,050 per kg due to an increased offtake by industries and coin makers. Analysts and bullion traders stressed on the increase in demand resulted in the rise in prices of the precious metals.
Gold prices recorded an upward trend by Rs.160 to be priced at Rs.35,880 per 10 grams in New Delhi. The rise in prices was mainly attributed to a rise in fresh buying from jewellers amidst weak global cues.
However, global trend of gold remained flat at $1,427.60 an ounce in New York ahead of the trade talks between the United States of America and China, which made investors more cautious along with the United States Federal Reserve’s meeting for further updates on rate cuts.
Silver’s global trend was like gold at $16.54 per ounce with no movement due to various global factors.
In New Delhi, the price of 99.9% pure gold and 99.5% pure gold rose by Rs.160 to Rs.35,880 per 10 grams and Rs. 35,710 per 10 grams respectively and Sovereign gold prices were steady at Rs.27,500 per 8 grams. The demand for silver coins increased extensively and was trading at Rs.1,000 higher at Rs.85,000 per 100 pieces for buying and Rs.86,000 per 100 pieces for selling.
30 July 2019
Sluggish demand leads to gold and silver prices falling
On Monday, gold and silver prices fell in Delhi. Gold slipped by Rs.50 to close at Rs.35,720 per 10 grams and silver fell by Rs.100 to close at Rs.41,900 per kg. These details were provided by the All India Sarafa Association.
Gold of 99.9% purity declined by Rs.50 and gold of 99.5% purity also declined by the same amount. As mentioned earlier, prices of silver too, fell. This fall was due to reduced offtake by coin makers and industrial units. Silver coins also traded at Rs.84,000 for buying and Rs.85,000 for selling of 100 pieces.
In the international market, gold prices were flat as investors are waiting to see what the outcome of the U.S. Federal Open Market Committee’s (FOMC) meeting will be. This meeting is to be held at the end of July.
29 July 2019
Silver rates surge and gold prices hit a record high
Amid strong local demand, silver prices surged in India and gold prices hit a record high.
HDFC Securities Senior Analyst Tapan Patel stated that the increase in import duties on gold fro, 10% to 12.5% has increased interest in trading of gold and other precious metals.
He also stated that silver prices have seen a steady increase on expectations of monetary easing from central banks leading to an increase in industrial demand.
23 July 2019
Silver Prices Rise On Steady Spot Demand
A rise in spot demand bolstered silver futures prices, as positive overseas cues and a fluctuating dollar rate raised local demand.
Silver futures traded 0.98% higher at Rs.41,081 per kg after speculators raised their bets following a firm overseas trend. Silver for September delivery rose by Rs.399 to Rs.41,081 per kg in 18,411 business lots.
Silver for December delivery also saw a significant rise in price, trading Rs.378 higher to Rs.41,790 per kg in 1,109 business lots.
There was a marginal rise in spot silver overseas, with the metal trading 0.86% to $16.34 per ounce.
22 July 2019
Gold and silver prices increase
Gold and silver prices increased last week in Delhi.
Gold prices increased due to increased buying from jewellers and silver prices increased due to increased offtake by coin makers and industrial units.
The All India Sarafa Association stated that gold of 99.99% purity saw a Rs.100 increase in its price.
Silver prices increased to Rs.38,710 per kg while silver coins were Rs.81,000 for buying of 100 pieces and Rs.82,000 for selling of 100 pieces.
19 July 2019
Silver To Cost More As Govt. Increases Customs Duty
Silver will cost more after the Union Budget 2019 was announced, with the government increasing the customs duty on silver (including silver plated with platinum or gold).
The government has increased customs duty from 10% to 12.5% on unwrought, semi-manufactured or powder form silver. This is the second consecutive year that duty on silver has been hiked, being charged at 3% of aggregate customs duties in the 2018 Budget.
Ahead of the Budget 2019 being announced, silver prices dropped to Rs.37,030 per kg on the futures market as traders booked profits.
6 July 2019
Silver Drops on Weak Trends and Profit-Booking
Silver prices fell as profit-booking and a weak overseas trend resulted in a decline in bullion interest. Investor interest was weak as traders awaited further direction from U.S. unemployment data regarding a possible Fed interest rate cut.
The industrial metal traded Rs.70 lower at Rs.38,580 per kg. Weekly-based silver delivery dropped by Rs.198 to Rs.37,150 per kg as a spike in the dollar rate also deterred investors and industrial units.
There was no change in the price of silver coins, which continued to trade at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.
5 July 2019
Gold and Silver prices dip due to a weak overseas trend
In New Delhi, on 4 July 2019, the price of gold dipped to Rs.32,231 per 10 grams resulting in a percentage decline of 0.04%. This was mainly due to reduced exposure of the metal in the global market.
Various analysts have mentioned that the dip in price was a result of off-loading of positions by various participants in order to book profits. In the global market, the price of gold in the United States of America was $1,1416.70 per ounce in New York.
Coming to Silver, the prices dropped marginally as well by 0.16%. On the same day, silver was priced at Rs.37,150 per kg in the futures trade due to weak global trends. The contracts for silver fell by Rs.60 in July on the Multi Commodity Exchange.
The decreased prices of gold and silver were mainly due to participants off-loading their positions and weakening in global trends due to various geopolitical factors. Globally, silver was trending at a price of $15.28 an ounce in New York resulting in a low of 0.40%.
4 July 2019
Silver Futures Slip on Overseas Cues
Silver prices slid on the Multi Commodity Exchange (MCX) as speculators reduced their positions on weak overseas trends. Silver for July delivery dropped by Rs.306 or 0.82% to Rs.37,146 per kg in a business turnover of 3,489 lots.
Delivery for September also dropped as speculators withdrew from risky positions as silver traded at Rs.37,786 per kg or 0.85% lower in a business turnover of 17,150 lots.
The weak overseas trend was attributed to the dip in silver demand across markets, which was reflected in the spot price as well. Spot silver traded 1.02% lower at $15.19 per ounce in New York.
1 July 2019
Silver Futures Drop On Weak Trends
Silver prices dropped on weakening overseas demand, which resulted in speculators reducing their positions.
Silver futures for July delivery fell by Rs.61 to Rs.37,481 per kg in a business turnover of 7,813 lots. There was also a dip in September deliveries, with the metal dropping Rs.45 to Rs.38,021 per kg in a business turnover of 14, 859 lots.
On the global front, there was a marginal slide in silver prices, with the metal trading 0.06% lower at $15.29 per ounce.
Despite the recent slide in silver performance, market uncertainty as well as ongoing geopolitical tensions could boost demand for bullion.
28 June 2019
Silver Futures Gain on Spot Demand and Firm Global Trend
Silver prices gained as a firm overseas trend led to speculators raising bets. Silver futures for July were up by Rs.175 trading at Rs.38,250 per kg in a business turnover of 12,570 lots on the Multi Commodity Exchange (MCX).
Continuing with the incline, silver futures for September delivery also recorded a rise, climbing 0.44% or Rs.170 to Rs.38,740 per kg in a turnover of 8,646 lots.
On the global market, silver rose by 0.45% to $15.53 per ounce as rising geopolitical tensions in the Middle East as well as fears of a global recession increased bullion’s safe-haven appeal.
25 June 2019
Silver Price Rebound on Fresh Industrial Offtake
Silver prices in Delhi surged on increased demand from industrial units and coin makers as overseas demand for bullion also saw a steady rise.
On the international market, silver traded higher at $14.89 per ounce as fears of an escalation in the U.S.-China trade war increased demand for safe-haven bullion.
On the local exchanges, ready silver rose by Rs.330 to trade at Rs.37,890 per kg. Weekly-based silver delivery meanwhile rose by Rs.251 to trade at Rs.36,906 per kg. Despite the rise in silver on the markets, there was no change in the price of silver coins. They continued to trade flat at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.
12 June 2019
Silver Prices Rise on Positive Overseas Demand.
Increased demand from industrial units and coin makers, silver prices rose by Rs.250 in trading today. The industrial metal traded at Rs.37,750 per kg as local retailers and jewellers increased their orders due to positive overseas cues.
Despite silver falling to $14.79 per ounce in New York, the drop in the U.S. dollar rate prompted an increase in local offtake.
The weekly-based silver delivery also saw a rise, climbing by Rs.162 to trade at Rs.36,626 per kg as investors chose to maintain their positions. There was no change in the price of silver coins, which continued to trade at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.
4 June 2019
Rising Demand Leads to Rise in Silver Price
A pick-up in silver offtake resulted in the metal’s prices rising in trading on Thursday, 24th May, 2019. Industrial offtake rose marginally as overseas silver demand also rose, trading at $14.53 per ounce.
Ready silver rose by Rs.200 to trade at Rs.37,400 per kg as coin makers increased offtake at the local spot market. With regard to silver futures, profit booking saw prices drop by Rs.66 to Rs.36,234 per kg.
Despite fluctuations in overseas demand and local offtake, silver coins remained unchanged, trading at Rs.80,000 for the sale and Rs.79,000 for the purchase of 100 pieces.
24 May 2019
Silver Prices Surge on Rising Local Demand.
Increased demand from coin makers and industrial units boosted silver prices in India, as strong overseas cues also supported the metal’s performance.
Silver ready prices rose by Rs.230 to trade at Rs.38,750 per kg, with weekly-based delivery rising by Rs.179 to trade at Rs.37,560 per kg. There was no change in the price of silver coins, which remained at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.
On the international market, silver traded marginally higher at $15.10 per ounce in New York. The rupee also contributed to the rise in bullion offtake, trading at close to Rs.70 against the dollar.
26 April 2019
Decline in Industrial Demand Dents Silver Rates.
An overall drop in silver prices dented local demand, as weak industrial offtake and falling interest from coin makers impacted the metal’s value. On the overseas market, silver fell to $15.06 per ounce as subdued demand was reflected in the price.
Silver ready fell by Rs.145 to trade at Rs.38,425 per kg and weekly-based delivery also saw a drop of Rs.207 to Rs.37,320 per kg. Despite the drop in the metal’s trading value, silver coins remained unchanged at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.
23 April 2019
Silver Falls Steeply on Weak Offtake, Trends.
Falling demand from industrial units resulted in silver prices in Delhi plunging. Silver fell by Rs.370 to trade at Rs.39,530 per kg as coin makers also reduced orders on weak overseas trends.
Weekly-based delivery dropped by a minimal Rs.13 to trade at Rs.38,715 per kg. There was no change in the price of silver coins, which continued to be traded at Rs.80,000 for buying and Rs.81,000 for selling of 100 pieces.
Gold prices fell marginally, trading 0.2% lower at $1,295.81 per ounce on the international market as equity markets performed well. U.S. gold futures however dipped by 0.3% to $1,295.20 per ounce.
Local demand for the yellow metal was in contrast to international trends, with prices rising marginally. Gold of 99.9% purity traded Rs.80 higher, closing at Rs.33,250 for 10 grams. 99.5% purity gold also rose by the same margin to trade at Rs.33,080 per 10 grams.
11 March 2019
Silver Dips in Delhi On Weak Trends, Declining Industrial Demand
Silver prices saw little movement in trading as weak overseas cues and declining industrial interest capped gains. Ready silver traded flat at Rs.39,500 per kg on the bullion market today, 6th March, 2019.
Weekly-based silver saw a sharp rise in price, trading at Rs.38,709 per kg as the metal gained Rs.594 on rising investor interest in futures. Silver coins remained unchanged, trading at Rs.80,000 for buying and Rs.81,000 for selling 100 pieces.
Demand for bullion has seen a slight dip as the U.S. dollar recovers from a sluggish period characterised by volatile equity markets and domestic tensions which impacted investor confidence in the economy.
6 March 2019
Silver and Gold Rates in Delhi Rise on Firm Global Trends
Gold and silver prices in Delhi rose on the futures market, supported by a firm global trend and a slight rise in the spot market.
Gold rose Rs.20 higher on the Multi Commodity Exchange (MCX), trading at Rs.32,871 for 10 grams. A weakness in the dollar among other global currencies also positively impacted gold demand, with analysts expecting a rise in prices due to the metal becoming cheaper for non-dollar buyers.
Silver meanwhile rose by Rs.67 to trade at Rs.39,570 per kg. An increase in industrial interest and demand from coin makers boosted silver’s price on the futures market, while spot silver saw minimal change in price.
16 February 2019
Silver Falls on Weakening Investor Demand, Slow Local Offtake
A drop in silver rates in Delhi was recorded, with weekly-based delivery falling by Rs.150 to trade at Rs.39,450 per kg. Ready silver meanwhile fell by the same margin to trade at Rs.40,650 per kg due to reduced offtake by coin makers and local industrial units.
Gold rates also fared poorly, dropping for the fourth consecutive day as demand from local jewellers fell. Gold of 99.9% purity fell by Rs.50 to trade at 34,000 per 10 grams. 99.5% purity gold in Delhi also fell by Rs.50 to sell at Rs.33,850 per 10 grams.
The slide in demand for the yellow metal also impacted gold sovereign prices, which fell by Rs.100 to trade at Rs.26,000 per 8-gram piece.
On the global front, there was little movement in bullion prices with gold holding steady at just over $1,300 per ounce as a higher dollar capped gains. Uncertainty over the ongoing Sino-U.S. trade talks have also impacted sales in bullion, though analysts expect both metals to hold their prices into the next week.
14 February 2019
Silver rates drop by Rs.98 per kg
On Monday, silver rates in New Delhi were recorded lower than expected with the industrial trading at Rs.39,139 per kg owing to a decline silver futures as industries and coin makers halted purchases due to the day off in world markets. According to Multi Commodity Exchange (MCE), silver futures for March was priced at Rs.39,139 per kg - Rs.98 or 0.25% lower - in a 170 lots business turnover.
1 January 2018
Slight rise in Silver price on Wednesday
The increased purchase of gold in the domestic market helped the yellow metal rebound its price in both global and domestic markets.
The price of silver also seen a rise with one kg metal traded at Rs. 40,860 on Wednesday, a Rs. 345 increase from the previous day.
Price of standard gold rose by Rs. 195 and reached Rs. 30,065 per 10 grams, with pure gold also witnessing a similar margin at Rs 30,215 per 10 grams.
15 September 2017
Silver Futures Rates In New Delhi Rise Due To High Overseas Demand
Silver rates in New Delhi rose as demand for the white metal firmed overseas, with futures rising to Rs.39,880 per kg.
Silver futures for December delivery rose by Rs.407 to trade at Rs.39,880 per kg in early trading on the Commodity Exchange for 54 lots. The 1.03% rise in price was a result of a firm global trend as the U.S. dollar fell against the basket of global currencies. The Fed’s decision to keep interest rates as they are was a major reason behind the increase in futures trade
Silver futures for September 2017 also rose to Rs.39,358 per kg in 492 lots, rising by 1.02%.
17 August 2017
Silver Prices In Delhi Fall On Weak Demand
Silver prices in Delhi were on the decline today, 7th August, 2017 due to weak demand from markets. Silver price dropped by Rs.62 to trade at Rs.37,200 per kg for September delivery on the commodity exchange.
Weak demand was cited as the reason behind the decline, with futures for December 2017 delivery also dropping to Rs.37,790 per kg, a loss of 0.15%.
International silver prices were also poor, with the white metal trading at $16.23 per ounce in Singapore due to a strong recovery by the U.S dollar.
7 August 2017
Silver Futures Rise To Rs.38,488 Per Kilo in Delhi
The price of silver rose to Rs.38,488 per kg on 27th July, 2017 as higher global trend led to an increase in demand.
The white metal rose by Rs.397 per kg in a single day of trading in Delhi for September 2017 delivery for 1,330 lots.
With the U.S. dollar falling after the U.S. Federal Reserve’s position on slowing down monetary tightening, demand for bullion increased.
31 July 2017
Silver Futures Fall On Weak Demand
Silver futures fell to Rs.41,954 per kg due to a reduction in speculator bets on 31st march, 2017. The price fell by Rs.193 per kg for delivery in May at the Multi Commodity Exchange on 31st March, 2017.
Delivery for July 2017 also fell by Rs.159 per kg to trade at Rs.42,420 per kg in a turnover of 6 lots.
Profit-booking at current rates and a weak overseas trend were cited as the main reasons for the drop in price.
Silver prices on the international markets were also low due to reduced offtake.
31 March 2017
MCX outlook for gold and silver “sideways to bullish”
The current outlook (intraday) for Gold futures trading at the MCX (Multi Commodity Exchange) in India seems sideways to bullish, intraday support of 28200 has been noted for MCX gold with an April delivery date. Intraday resistance, however, is expected around the range of 29600.
Silver, too, shows signs of moving the same way as gold in the MCX. MCX Silver for delivery in March has intraday support of 37000, and resistance has been expected at 37620.
Concerns about the global economy and eventual financial volatility are holding the US Federal Reserve away from hiking US interest rates, encouraging support for the yellow metal which held steady at $1,230 (ounce) on Friday.
19 Febuary 2016
With weak global trends, gold futures dip 0.8%
With the global markets in a disarray and demand also being muted, gold futures have taken a dip by 0.8%. The price of gold being on the rise and the dollar also dropping, the precious metal are proved to be a safe-haven, forcing the future to drop. Even silver prices fell by another Rs. 278 amounting to Rs. 36,810 for a kilogram in futures trade today. The prices then picked up with the industrial units offtake, by Rs. 305 taking the price of silver to Rs. 37,515 per kilogram.
16 Febuary 2016