Silver Futures Slip to ₹2.19 Lakh as Spot Rates Hold Silver futures experienced a decline on July 16, with MCX silver futures for September delivery falling by ₹1,153 to ₹2,19,467 per kg, representing a 0.52% drop. This decline occurred despite global silver prices rising 1.23% to USD 57.08 per ounce, highlighting domestic market-specific selling pressure. Analysts attributed the fall primarily to participant sell-offs, which intensified the downward trend in futures trading. The volume of trades for the September contract reached 1,217 lots, indicating a significant shift in market sentiment. In contrast, the spot market showed relative stability, with silver prices remaining steady across key cities. On July 16, spot rates in Delhi, Mumbai, Bengaluru, and Kolkata were recorded at ₹2,34,900 per kg, while Chennai and Hyderabad quoted prices near ₹2,40,100 per kg. These figures suggest that spot prices have not mirrored the sharper decline observed in futures markets. The variation in prices between cities is attributed to factors such as local taxes and dealer margins, which influence pricing dynamics in different regions. Technical indicators for MCX silver have shifted into oversold territory, signaling potential for a rebound if key support levels hold. Analysts identified ₹2,18,000 as a critical support level, with sustained prices above this level expected to encourage buying activity and drive prices toward ₹2,27,000. A break below ₹2,18,000 could delay recovery and increase downside risks, as the metal’s technical outlook would shift toward a more bearish trajectory. The analysis underscores the importance of monitoring these levels to gauge short-term market movements. The broader market outlook for silver remains contingent on global macroeconomic factors.#delhi #mumbai #bengaluru #mcx_silver #abhilash_koikkara
Gold and Silver Rates Today: Live Prices for 24kt, 22kt, 18kt Gold and 10gm, 100gm, 1kg Silver on 22 March Gold and silver prices declined on Tuesday as traders grew cautious about the precious metals, fearing that a surge in crude oil prices could lead to prolonged inflation and higher interest rates amid a four-week-old conflict in the Middle East. The market saw its worst weekly drop in over a month, with gold and silver prices falling sharply. On Friday, the MCX gold price closed slightly lower at ₹1,44,825, after which trading was halted for the weekend. The gold rate at bullions remained at ₹1,45,520 on Sunday. Meanwhile, MCX silver prices in Delhi closed nearly 2% lower at ₹2,27,470 per kg on Friday, down by ₹3,990, with the silver bullion rate standing at ₹2,27,960 on Sunday. Here are the live gold and silver rates in major cities on Sunday, 21 March: Gold Rates Today in Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad, Jaipur, Nashik, Rajkot, Pune Delhi: ₹1,45,010 for 24kt, ₹1,32,926 for 22kt, ₹1,08,758 for 18kt Jaipur: ₹1,45,240 for 24kt, ₹1,33,137 for 22kt, ₹1,08,930 for 18kt Mumbai: ₹1,45,260 for 24kt, ₹1,33,155 for 22kt, ₹1,08,945 for 18kt Kolkata: ₹1,45,060 for 24kt, ₹1,32,972 for 22kt, ₹1,08,795 for 18kt Chennai: ₹1,45,680 for 24kt, ₹1,33,540 for 22kt, ₹1,09,260 for 18kt Bengaluru: ₹1,45,370 for 24kt, ₹1,33,256 for 22kt, ₹1,09,028 for 18kt Hyderabad: ₹1,45,490 for 24kt, ₹1,33,366 for 22kt, ₹1,09,118 for 18kt Nashik: ₹1,45,260 for 24kt, ₹1,33,155 for 22kt, ₹1,08,945 for 18kt Rajkot: ₹1,45,450 for 24kt, ₹1,33,329 for 22kt, ₹1,09,088 for 18kt Pune: ₹1,45,260 for 24kt, ₹1,33,155 for 22kt, ₹1,08,945 for 18kt Silver Rates Today in Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad, Jaipur, Nashik, Rajkot, Pune Delhi: ₹2,272 for 10gm, ₹2,27,470 for 1kg Jaipur: ₹2,27,960 for 1kg Mumbai: ₹2,27,960 for 1kg Kolkata: ₹2,27,...#kolkata #delhi #mumbai #mcx_gold #mcx_silver
