Silver Prices Rise by Rs 5000 on 3rd September

On 3rd September, silver prices in the country rose by Rs 5000. According to Good Returns, the price of silver reached Rs 2,50,000 per kilogram. The increase in US bond yields and the strengthening of the dollar are affecting the demand for precious metals.

Amid the ongoing crisis in West Asia, silver prices continue to fluctuate. On the Multi Commodity Exchange (एमसीएक्स), silver futures 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 सर्राफा 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 have reduced investor interest.

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

Due to weakness in the global market, silver prices in Delhi have declined, but in the domestic market, silver prices showed gains in morning trading. On Thursday, gold on एमसीएक्स rose 0.75 percent to Rs 1,53,542 per 10 grams and silver rose 0.88 percent to Rs 2,38,340 per kilogram.

The rise in US bond yields and the strengthening of the dollar are reducing demand for precious metals. Gaurav Garg stated that silver prices continued to decline in Wednesday's session. Meanwhile, Chairman John Williams said that signs of inflation easing are emerging due to reduced tariff effects, and high energy prices are not spreading to other services.

Geopolitical tensions have increased uncertainty regarding the Federal Reserve's interest rate outlook, putting pressure on silver.

Experts' Opinion

Gaurav Garg said, "Silver prices continued to decline in Wednesday's session as demand for assets like precious metals decreased due to rising US bond yields and a stronger dollar." Chairman John Williams stated, "Signs of easing inflation are emerging due to reduced tariff effects, and high energy prices are not spreading to other services." Trump said, "This conflict will not last for a 'very long time.'"