Once again a change has been seen in the movement of precious metals in the Indian bullion market. Weakness was recorded in the price of silver, which is considered important from the point of view of investment and jewellery. While yesterday evening there was a strong rise in the market and silver closed with gains, today it has softened due to profit-booking and global factors. If you are also planning to buy silver jewelery or are working on a plan to invest in it, then it is very important for you to know at what price silver is being sold in the major markets of the country today.
Latest price and decline of silver in major cities
During trading on Thursday, a fall in silver prices was recorded in the bullion markets across the country. In the bullion market of the national capital Delhi, the rate of one kilogram of silver fell to Rs 2,36,100, a decline of Rs 1,918. Based on this, the price of 100 grams of silver was Rs 23,600 and the price of 10 grams of silver was Rs 2,360. In Lucknow, the capital of Uttar Pradesh, the price of silver was recorded slightly higher at Rs 2,38,300 per kg, where the prices declined by Rs 1,580. At the same time, in Patna, the capital of Bihar, the price of silver was Rs 2,36,100 and here silver fell by Rs 1,909. Apart from this, in Jaipur, Rajasthan, silver became cheaper by Rs 1,865 and traded at Rs 2,36,100 per kg, while in the country's financial capital Mumbai, the price of one kg silver fell by Rs 1,933 and closed at Rs 2,36,362 per kg.
Why did silver prices suddenly fall?
According to market experts, mainly three major reasons are considered responsible for this fall in silver prices. The first reason is the slight reduction in tension on the global front, due to which investors slow down the buying of silver as a safe investment and this impacts the domestic market as well. The second and biggest reason is profit booking by investors at higher levels; When prices continuously rise, people start selling to make profits, which brings the prices down. The third reason is the strength of the US dollar, import duties and fluctuations in demand from industrial sectors (such as electronics and solar sectors), which dictate the direction of the Indian bullion market through international cues.