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  • Silver Related News/Updates

    • Gold, Silver Recover Smartly

      At the domestic bullion market, gold and silver bounced back after overnight losses amidst worldwide cues. Standard gold increased by Rs. 90 and as compared to Monday’s closing rate of Rs. 28,630 per 10 grams, the price was Rs. 28,720 per 10 grams. Pure gold also increased, closing at Rs. 28,870 for 10 grams while silver moved up by Rs. 135.

      Throughout the world as well, gold increased, bouncing from a three and a half month low but was on track for the biggest decline since the month of November amid increasing expectations of a rate hike in the U.S. Spot gold increased by 0.5% in London at $1,210.86 per ounce. Among other metals, spot silver has moving towards its biggest loss in a month since the month of September.

      2nd June 2016

    • Gold and Silver Prices Expected to Decline Further

      The prices of gold and silver are expected to drop further for the second successive week owing to positive remarks on rate increases from important FED members, stronger data flow and FOMC Minutes. The fact that the FED will be increasing rates is also expected to play a part in further weakening prices. Important members of the FED have been repeatedly reinforcing their intentions to increase rates in both key speeches as well as in the minutes. They also revealed that improving inflation in addition to strong employment will most certainly result in an increase in rates come June.

      26th May 2016

    • No dip in demand for gold, silver from jewellers, industrial units

      The firm and steady upward global trend of gold prices, which is currently trading at Rs.30,300 / 10 grams owes a small part of this sustainable growth to the unwavering demand by Indian jewellers.

      Silver, currently trading at Rs.41,850 / kg, is also been reported as having been in constant demand by industrial units and coin makers alike.

      In Delhi, 99.9% and 99.5% purity gold is currently trading at Rs.30,150 and Rs.30,000 respectively. This is an advancement of Rs.50 on each.

      2nd May 2016

    • Silver still a preferred bet over yellow metal

      Recently, silver has seen a great commodity price spurt, becoming the best performing metal. Turns out that Silver has become a strong alternative to gold in recent years, particularly since there has been restrictions on gold import three years before. Compared to the 21% return that gold has given in the current calendar year, silver has given a 23% cent return.

      Nevertheless, from a medium-term perspective, silver is still trading at much lower prices. This is mainly because a good percentage (55%) of the demand for silver is for industrial use. Further, the dip in China and other parts of the world has also steered it to being lowered.

      25th April 2016

    • Silver Futures shift down

      Based on inputs from the global economy, buying of the greyish metal declined affecting a 0.4% decrease in its rates. Silver prices were at INR 37,626 per kilo that was around INR 138 lower than the earlier rate.

      At the MCE, silver futures for May had a decrease of 0.37% in a business turnover of 250 lots. July contracts also fell by a similar percentile of INR 140 value to reach a rate of INR 38,080 per kilo in a business turnover of 38 lots. On the global front, silver traded at 0.66% lower at a rate of 15.80 dollars an ounce.

      13th April 2016

    • Weakening Dollar Leads to Increase in Silver Prices

      Silver has become the best performing precious metal in recent times as prices jumped again earlier this week following a decline in the value of the US dollar. The Federal Reserve is expected to be cautious with rising interest rates. The price of silver for delivery in May gained 3.9% to $15.98 a troy ounce on the New York Mercantile Exchange’s Comex division. The settlement price logged by the contract was its highest since the 17th of March. Followed by silver is platinum, gaining 2.2%, palladium, gaining 1.1% and gold, gaining 1.1%.

      12th April 2016

    • Gains in Silver in the National markets

      The future trade of silver allowed for a gain of INR 274 making silver’s price at INR 36300 per kilo. Investors favoured the safe haven metal and were trying to avert risk in the falling equities.

      Silver futures for delivery even in July went up by 0.76% through 7 increases. Futures in May had a lower increase of 0.72% or INR 256 per kilo. In the global market, silver had an increase of 1.17% which meant an increase of USD 15.08 per troy ounce.

      6th April 2016

    • Silver loses its shine

      Strengthening dollar, weak global trends and low local demand has caused silver to drop by INR 153 and come to rest at INR 36976 per kilogram in the trade of futures. Delivery in May went down by INR 150 and came to rest at INR 36519 for 1 kilogram. Overseas, silver traded at USD 15.17 dollars an ounce.

      29th March 2016

    • Silver Selling Increases Hopes of Rebound

      Silver has received support at 35768 and under same has the potential to witness a test of 35447 level. It is expected that resistance will likely be witnessed at 36698, and a move above might witness prices testing 37307.

      Silver prices on MCX were down -1.56% at 36088 following factory data that was stronger than initially anticipated from the Institute of Supply Management, and it offered some optimism with regards to the prolonged slump experienced by the manufacturing industry, with hopes of a rebound now well on the cards. .

      2nd March 2016

    • Global Market Strengthens Leading to Rise in Silver Futures

      On the heels of strong global cues and a growth concern in China, the prices of silver surged to Rs 36,855 per Kg in the futures trade clocking an impressive rise of 0.53%. The rise comes after strong global cues led to speculators enlarging their positions and fuelling the demand for safe haven.

      This increase of growth was also seen at the commodity exchange where silver was trading by 0.53% higher at Rs 36,855 per kg and had a business turnover clocking 307 lots.

      The prices of silver for delivery also rose for the month of March by Rs 174 to Rs 36.225 per Kg in 70 lots registering a growth of 0.48%. Growth of silver was also witnessed in International market with price in Singapore rising by 0.34% to $14.94 per ounce.

      1st March 2016

    • Gold prices have spiked up, while silver remains stable

      The prices for gold have risen for a tola, the cost is now Rs. 1,000 more, while silver remained unchanged for the week of 21st to 26th of February 2016. The international markets set the rates of the domestic market prices. The gold price per tola was at Rs 55,500, on Wednesday the price stood at Rs 56,500 for a tola. Silver remained rather stable at Rs. 735 for a tola

      29th February 2016

    • Silver drops in prices, as gold is up on the global level

      Global trends, help in keeping the prices of gold high for 3 days in a row, however, with speculation over industrial buying, silver slipped in prices Gold of purity 99.5 was up by Rs. 5 and settled at Rs 29,090 per 10 grams, while 99.9 purity stood at Rs 29,240 per 10 grams. Silver on the other hand dropped in price by Rs 190 per kg and closed at Rs 37,610 per kilogram. Even in the global markets, silver dropped 0.2% and stood at $15.25 for an ounce

      26th February 2016

    • Prices of gold remains steady and silver is on the path of recovery

      The prices of gold settled at the bullion market today, at Rs 28,420 per 10 grams. Silver, on the other hand gained slightly after their drop by Rs. 55 on the offtake from industries. Gold with 99.5 purity held it’s ground at Rs 28,420 per 10 grams. 99.9 purity Rs 28,570 per 10 grams. Even silver of .999 fineness dropped to Rs 275 per kg. On the global level, gold stayed at a rate above $1,200 an ounce

      19th February 2016

    • Increased offtake picks silver and gold up from 3 day slump

      After a 3-day decline, gold and silver have recovered by small margins.

      Increased offtake by industrial units and coin makers have resulted in silver closing the trade day at Rs.37,100 (1 kg).

      Gold in Delhi has hit Rs.28,850 and Rs.28,700 for 10 grams of 99.9% purity and 99.5% purity respectively.

      Silver coins are trading at Rs.54,000 (buying) and Rs.55,000 (selling) respectively.

      18th February 2016

    • Silver traded on the MCX gained 6%

      Silver futures traded on the MCX or Multi Commodity Exchange, has gained 6% in the last week. The key resistance is currently at Rs. 36,000 for a kilogram. But, the contract encountered resistance was priced at Rs. 38,800 per kilogram. The contract fell by 2.4% on Monday, to keep the correction from the overbought levels.

      16th February 2016

    • Global price trend and situation with the Rupee prompt increase in import duty for precious metals

      As the price for gold sank a further 1.9% to trade at $1,214.68 (ounce) in Singapore, Silver also lost 2.7% to trade at $15.31 (ounce). The Indian domestic market also saw gold and silver slide down for the second straight day to Rs.28,950 (10 grams) and Rs.37,025 (1 kg).

      While the drop in domestic markets has been linked to reduced offtake by coin makers and industrial units, India’s gold imports are up again by 85.16% hitting $2.91 billion. Due to the adverse effect this will have on India’s Current Account Deficit, the government decided to increase the import duty for gold and silver to $403 (10 grams) and $510 (1 kg).

      16th February 2016

    • Silver tumbles by Rs.806 per kilogram

      Silver prices fell by Rs.806 to Rs.37,178 per kg at the futures trade on 15th February, 2016. In the international market however the silver fell by 2.75 to $15.31 an ounce. The traders said that the fall in the silver prices at the futures trade was mainly because of the weak trend in the precious metals at the global market. The rising share market and a firm yuan reduced the demand for safe haven assets.

      16th February 2016

    • Silver futures Picks Pace at 1.04% on Cues in Foreign Markets

      Silver prices gained 1.04% to end at Rs 37,557 per kilogram in futures trading today in India, as traders built up for fresh new positions.

      The Multi Commodity Exchange saw delivery silver in May rise by Rs 387, or 1.04%, to end at Rs 37,557 per kilogram, involved in a business turnover of 60 lots.

      Silver for delivery in March gained Rs 325, or 0.88%t, to end at Rs 37,105 per kilogram in 922 lots. According to analysts fresh positions were created by participants lead by firming trend in global markets mainly causing gain in silver prices at futures trading market.

      The white metal surged 0.65% to USD 15.38 an ounce in the Singapore precious metal market.

      11th February 2016

    • Open interest for silver jumps by 7.75%

      Open interest for Silver jumped up by 7.75% which has initiated some fresh buying for silver. This has boosted the price of silver by about Rs.927. Silver currently is priced at Rs.34520-36396 per kg which is higher than the earlier price of the metal.

      The slid of the US Dollar is a primary reason for the sudden jump in the price as well as buying of silver. The Dollar recently hit the lowest as against the Euro and this prompted both the prices of silver and gold to go up.

      4th February 2016

    • Silver Prices Rise to $14.40 Amid Bullish Sentiment

      Silver prices on Thursday closed at $14.40, nearing the early December high of $14.63. If the prices continue to rise at this rate, the prices are likely to inch closer to $15.

      The price rise is attributed to the general rise in commodity prices. If the Federal Reserve decides to keep their rates lower, the white metal is likely to gain further.

      The last good price seen for silver was in October 2005, when it hit $16.17. Sentiment for silver in the short term will likely be strong if the prices do not go below $14.

      28th January 2016

    • Silver Demand Rises 10%

      According to an Economic Times report, demand for Silver in India has surged. It adds the imports for 2015 is somewhere around 7,500 tonne. This is a 10% rise as against the silver imports in the previous year.

      Silver often is favorable in India, since it is often considered as a poor man’s gold. The reasons for such a surge might be due to the drop in rural earnings. The unfavourable monsoon has led many people dependent on agriculture for their livelihood to opt for silver being a more reasonable option in 2015.

      An 18.5% drop in silver prices also rose the consumption of the white precious metal. Consumers have also shed their preference for imitation jewellery to silver.

      25th January 2016

    • Demand for silver goes up following its reduced rates.

      The demand for silver has gone up following the fall in its price. The price of silver has gone down 19% in 2015. The demand for silver in rural areas has gone up simultaneously as gold has become unaffordable to many people. Meanwhile the demand for silver jewelry has also gone up in metros as many branded sellers have flooded the market with designer silver jewelries.

      21st January 2016

    • Silver rates increase by 0.64%

      The price of silver increased by 0.64 per cent to Rs 34,169 per kg in the futures trade. At the Multi Commodity Exchange, silver futures for delivery in May 2016 jumped by Rs 218, or 0.64 per cent, to Rs 34,169 per kg in a business turnover of 122 lots.

      Silver futures rates for delivery in March 2016 increased by 0.51% or Rs 171 to Rs 33,704 per kg in 8,482 lots. According to analysts, this trend has been triggered by the demand for silver at domestic spot markets. In the global scenario, the rate of the white metal increased by 0.79% to $13.96 an ounce in London.

      January 13, 2016

    • Demand for Gold Rises, Silver Drops

      Gold prices increased at the local bullion market in Mumbai thanks to increasing interest from stockists owing to the festive season. In comparison with gold, silver prices dropped due to subdued industrial buying. The price of 99.5% pure standard gold increased by Rs.105 and ended at Rs.25,415 per 10 grams. Prices of 99.9% pure gold also increased by a similar margin and closed the day at Rs.25,565 per 10 grams from Rs.25,460 earlier. The price of silver, however, declined by Rs.115 per kilogram to close at Rs.33,870 from Rs.33,985 earlier. Gold prices have been rising around the world owing to rising tensions in the gulf and growth concerns in China.

      6th January 2016

    • Tensions in the Middle East lead to rising gold and silver prices in India

      Rising tensions between Saudi Arabia and Iran have led to rising demand for precious metals.

      In India, Gold has risen to Rs.25,615 – a rise of Rs.195.

      Silver has risen to Rs.33,625 (per kg) – a rise of Rs.325.

      In Singapore, gold hit US$1,070 (per ounce) – a rise of 0.9%, and silver hit US$13.93 (per ounce) – a rise of 0.8%.

      In New Delhi, the price for gold of 99.9% purity rose by Rs.195 to hit Rs.25,615 (per 10 grams), and gold of 99.5% purity rose by Rs.195 to hit Rs.25,465 (per 10 grams)

      5th January 2016

    • Silver Import in India Set to Hit New Highs

      The import of silver in India is expected to set a new record in 2016 thanks to a drastic change in consumer preferences from artefacts and imitation jewellery to silver. Between January and September, 2015, the quantity of silver imported by India was 5,819 tonnes. On a yearly basis, however, the overall silver import in 2015 was estimated at 7,759 tonnes, making it the highest ever quantity recorded and marking an increase of around 10% in comparison with 2014. In the whole of 2014, the overall import of silver was registered at around 7,083 tonnes. The increasing import of silver in the country demonstrates a drastic change in consumer preferences over the past three years ever since prices began to fall.

      4th January 2016

    • Silver rates increase globally

      The price of silver increased by Rs 97 to reach Rs 33,655 per kg in futures trading. At the Multi Commodity Exchange, silver futures for delivery in March 2016 traded higher by 0.29% or Rs 97, and ended at Rs 33,655 per kg, in a business turnover of 421 lots.

      The price of silver for delivery in far-month May 2017 was trading higher by 0.28% or Rs 94, to Rs 34,090 per kg in one lot. According to analysts a firm trend global markets for precious metals has influenced the price of silver at futures trade. Meanwhile, silver rate was up 0.14% at USD 13.96 an ounce in Singapore.

      4th January 2016

    • Silver futures on a high

      As the world gets ready to welcome 2016, silver witnessed a high to close the year. Silver futures reached Rs 33,655 per kg, up by Rs 97 as there was an increased global demand. The Multi Commodity Exchange saw silver futures for March 2016 go up by 0.29%, while those for May saw a 0.28% increase, trading at Rs 34,090 per kg, up by Rs 94.

      30th December 2015

    • Gold rises by Rs.70, Silver up by Rs.50

      Gold further rose by Rs.70 to Rs.25,600 for 10 grams (24 karat), following the rising global trend.

      Silver also rose by Rs.50, hitting Rs.33,850 per kilo on an increased offtake from industrial units and coin makers.

      Gold traders attribute the gains in gold rate to the US Federal Reserve hikes, which are slated to be gradual.

      Increased buying of gold jewellery also contributed to the rise in demand for the precious yellow metal, according to analysts.

      22nd December 2015

    • Gold Import Raised, While Silver Tariff Reduced by Govt.

      The government increased import tariff on gold marginally to US$ 34.7 for every 1 gram but decreased it on silver to USD 448 for every kilogram, based on the global price trend on the yellow metal. During the first half of this month the tariff value on imported gold was stable at US$ 34.4 for every 1 gram and on silver it was US$ 461 for every kilogram.

      The import tariff value is basically the base price on which the customs duty is decided to avoid under-invoicing. It is normally changed on a fortnightly basis. The revision in tariff value of these precious metals has been notified by the Central Board of Excise and Customs, based on our sources through a statement issued by the Finance Ministry.

      19th December 2015

    • Global supply of silver may fall by 3%

      Market analyst Thomson Reuters GFMS has predicted the overall global silver supply to drop by 3% to 1.02-billion ounces in 2015. The deficit is driven largely by flat mine production, a 5% drop in scrap return and net de-hedging of 12.6-million ounces of the metal.

      In 2015, mine production was slated to around 867.2-million ounces, increasing by 0.3% year-on-year, but marking the weakest performance since 2002, when mine production fell 2%.

      According to GFMS’s bullion coin survey, the sales of silver bullion coin reached a new record high in the third quarter of the year. It totalled to 32.9-million ounces and increased by 95% year-on-year. The dip in silver prices in July and August to six-year lows triggered an increase in buying in the silver coin market, particularly in North America, where coin sales surged by 103% to 23.6-million ounces in the third quarter.

      20th November 2015

    • Import Duty on Silver and Gold Reduced

      The government of India has slashed import duty on silver by $470/kg and gold by $354/10gram owing to weak trends in the global markets. In Delhi alone, silver prices reduced to Rs. 34,400/kg and gold prices dropped below Rs. 26,000/10grams, gold prices dropped below Rs. 26,000/10grams.

      The prices of gold in London hit a near five year low with the metal being valued at $1,083.85/troy ounce. Silver prices also recorded declines and stood at $14.36/ounce. After petroleum, gold is India’s second-largest import item. The country’s account deficit is adversely affected by the increase in gold import.

      16th November 2015

    • Gold, silver rates up in Diwali trading

      Gold prices increased by Rs. 15 at Rs. 26,250 for 10 grams in the Diwali Muhurat trading at the bullion market. This was a result of increased buying by jewellers due to the festive season. According to traders, token buying to mark Diwali and the beginning of Samvat Year 2072 also contributed to the price rise.

      The price of silver increased by Rs. 25 at Rs 34,900 per kg on increased offtake by coin makers and industrial units. However, in the global scenario, the price of gold in London dropped by 0.2% at $1,087.70 for anounce.

      12th November 2015

    • Gold and silver fall under pressure

      Gold and silver prices continued their downward descent due to low demand from jewellers and retail buyers. This is reflected in declining global prices which continue to be jittery in anticipation of rate cuts by the Federal Reserve next month.

      Gold rates saw a fall of Rs.110 whiles silver rates saw a fall of Rs.250. They closed at Rs.26,700/10g (99.9% purity) and Rs.36,250/kg respectively.

      Adding to the downward pressure on gold prices was lowered demand for gold-backed funds with a number of investors exiting such schemes over the last two weeks.

      This fall in gold prices closes a 5 day downward trend at the precious metal’s lowest price in 3 weeks.

      3rd November 2015

    • Silver Prices Expected to Rise in 2016

      Gold prices recorded a marginal increase at the local bullion market owing to demand from jewellery traders and stockists among buoyant worldwide cues. Silver prices continued to fall owing to dreary industrial offtake and speculative selling. Prices of 99.5% pure standard gold increased by Rs. 5 to Rs. 26,705 for every ten grams in one day. The price of 99.9% pure gold also increased by Rs. 5 to Rs. 26,855 for every ten grams. Prices of silver, on the other hand, decreased by Rs. 85 per kg to Rs. 37,425 in a day.

      3rd November 2015

    • Gold Prices Rise, Fall in Silver Prices Continues

      Gold prices recorded a marginal increase at the local bullion market owing to demand from jewellery traders and stockists among buoyant worldwide cues. Silver prices continued to fall owing to dreary industrial offtake and speculative selling. Prices of 99.5% pure standard gold increased by Rs. 5 to Rs. 26,705 for every ten grams in one day. The price of 99.9% pure gold also increased by Rs. 5 to Rs. 26,855 for every ten grams. Prices of silver, on the other hand, decreased by Rs. 85 per kg to Rs. 37,425 in a day.

      27th October 2015

    • Fall in Gold, Silver Prices

      Gold and silver prices dipped further at the domestic bullion market due to subdued buying interest and reduced off-take from retailers and stockists.

      Gold (with 99.9% purity) slipped down to a margin of Rs. 155 and finished at Rs. 26,850 per 10 grams as compared to the previous rate of Rs. 27,005. The prices of standard gold slipped by Rs. 155, from Friday’s rate of Rs. 26,855 to Rs. 26,700. The rate of pure silver (with .999 fineness) fell by Rs. 120 per kg and closed at Rs. 37, 510 from Friday’s price of Rs. 37,630. This was due to lower industrial demand and speculative selling.

      26th October 2015

    • Silver rebounds, as gold falls lower

      The Indian markets saw gold fall to a lower value while silver raised itself and rebounded at Rs.37.670 per kg as compared to Rs.37,620 yesterday. Silver is expected to rise even more considering the beginning of the festive season and the speculative buying by customers. At global levels, the prices of gold slipped as the dollar continued to gain strength. Gold has seen a totally roller coaster trend in the past one year which has led customers to become apprehensive in buying of the precious metal. The upcoming festive season in India is expected to lend some respite to the value of the yellow metal and help it to rebound.

      21st October 2015

    • Silver prices soar high along with gold

      Silver has moved upward to a prices of Rs. 36, 700 per kg, with a Rs 750 increase. The boost to the prices is due to the upcoming festive and wedding season. Even industry users and coin makers have a increased offtake. Silver coins as well are steady at Rs. 51, 000 for buying of silver coins and Rs. 52, 000 for selling of 100 pieces.

      6th October 2015

    • Silver Imports on the Rise, While Gold Remains Downward

      The white metal demand in the Indian market has risen significantly, as depicted in the import numbers. Silver imports has risen 35% to 3,824 tonnes in the first 6 months of 2015, as compared to last year, over the same period. Last year, this precious metal import was an all time high import, at 6,843 tonnes.

      The yellow metal prices were around $1,300 and the white metal prices were $21 an ounce, a year before. Also globally, silver prices have dropped down 29%, while gold has lost 16% in prices.

      Generally, as far as market observation goes, silver imports rise in the second half of the year. The rise in demand in August, is a result of the jewellery making and silverware industry, just before the festive season in Autumn as well as supplying for exports before Christmas.

      According to Nic Brown, heading commodities research, Natixis, forecasts the price of silver to continue dropping. He also added, that over the coming year, the white metal’s industrial demand will be stable but the lack of investment demand for silver might lead to further drop in prices. A distinct difference between gold and silver is that the latter’s proportion of global output largely, is as a by-product.

      28th July 2015

    • Precious Metals' Market Experience Nearing Five-Year Low in Asia

      Prices of gold and silver in Asia, have maintained trading close to their lowest in five years around the increased expectations of the U.S. Federal Reserve, later this year, augmenting interest rates.

      Gold fell to its weakest on Monday, since February 2010, leading prices in early trade hours in Asia to drop to $1,102.90 an ounce (31.1 grams). However, a slight rise has been noted with the yellow metal being traded at $1,104.08 an ounce.

      Victor Thianpiriya, a commodity strategist at ANZ Bank predicted that prices of the yellow metal may yet dip further. He added that the $1000 an ounce mark may be reached in the mid-term, which may lead mining companies to run at further losses.

      With the recent bearish tendency of yellow precious metal market triggered by the deprived state of hedge funds in gold futures too, gold prices see speculation for lowered buying prices. Lask week, Janet Yellen, chairwoman of U.S. Federal Reserve commented on the rise of interest rates, before which, analysts are not hopeful for any regain in gold prices.

      Other precious metals such as silver, platinum and palladium have fallen victim of the yellow metal's demise in the market Silver prices opened at $14.63 a troy ounce on Tuesday, gaining to $1476, depicting slightly more optimistic investment sentiments for the white metal than gold triggered by the bolstering U.S. economy and the industrial demands for the metal.

      21st July 2015

    Silver Rate In Metro Cities
    Silver Rate In Other Capitals
    Silver Rate In Other Major Cities
    Silver Rate In States
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