Silver prices rise by Rs 5000 on September 3

On September 3, an increase was recorded in the prices of gold and silver. Especially, the price of silver surged by Rs 5000 per kilogram, reaching Rs 2,50,000 per kilogram. This change was due to global market conditions and domestic trading.

Amid the ongoing crisis in West Asia, silver prices continue to fluctuate. On the Multi Commodity Exchange, the futures price of silver rose by 1.23 percent in early trading to Rs 2,32,763 per kilogram, while in the previous trading session it was Rs 2,29,943 per kilogram. According to Bullions, the price of silver reached Rs 2,38,350 per kilogram.

In the international market, silver was priced at $66.57 per ounce. In Delhi's Sarafa market, silver prices fell for the second consecutive day, dropping by Rs 5,000 to reach a two-week low of Rs 2,35,500 per kilogram. The strength of the dollar and rising tensions between the US and Iran reduced investor interest.

The price of the December delivery contract on the Multi Commodity Exchange was Rs 2,33,600 per kilogram, down Rs 1,841 or about 1 percent. In the foreign market in New York, the COMEX silver futures for the December contract traded down 1.22 percent at $64.57 per ounce.

Due to weakness in the global market, silver prices fell in Delhi, but domestic market saw gains in morning trading. On MCX, gold rose 0.75 percent to Rs 1,53,542 per 10 grams, while silver prices increased 0.88 percent to Rs 2,38,340 per kilogram.

Expert Gaurav Garg said that rising US bond yields and a stronger dollar reduced demand for precious metals, causing silver prices to continue falling in Wednesday's session. Meanwhile, Chairman John Williams said that reduced tariff effects indicate falling inflation and that high energy prices are not spreading to other services.

Amid fluctuations in silver prices, it is important for investors and consumers to keep an eye on market conditions.