Big Fall in Silver Prices In India Today! White Metal Slips Below Rs. 2 Lac/kg After Sharp Crash in Gold Rates

Silver rate in India Today fell sharply on Tuesday after the white metal underwent a surge of Rs 5000 per kg yesterday. Currently the retail price of silver slipped slightly below 2 lakh to cost Rs. 199,100 per kg after falling by Rs. 3,900.

Even on the Multi Commodity Exchange (MCX), silver futures for the March 5 expiry were trading at Rs. 195,620 per kg, down 1.15% at the time of writing.

Despite the dip, analysts expect the broader trend to remain positive. According to ICICI Direct, "MCX Silver March is expected to rise towards the Rs. 199,500-Rs. 200,000 zone as long as it stays above the Rs. 194,500 level. A move above Rs. 200,000 would open the doors towards Rs. 202,500."

Silver Rate in India Today

On Dec 16 the silver rates in India fell by Rs 3900 per kg to cost Rs 199,100. Similarly, 100 grams of silver cost Rs. 19,900 after declining by Rs. 390.

Silver Prices in Other Major Indian Cities

Chennai:

Silver prices in Chennai today also slipped, as 1 kg of silver in Chennai costs Rs 211,000 after falling by Rs 4,000.

Bangalore:

Bangalore silver prices today, on December 16th, are Rs. 199,100 per 1 kg, which fell by Rs. 3900.

Hyderabad

On a similar note, silver prices in Hyderabad today are standing at Rs. 211,000 after falling by Rs. 4000 per kg.

Mumbai

Just like in Chennai, Bangalore & Hyderabad, the silver rate in Mumbai fell by Rs.3900, bringing the prices to Rs.199,100 per kg.

Gold Rates in India Today

On 16th December, the 24-carat gold rates in India crashed by Rs.1520 to cost Rs.133,860, while the 22-carat gold rate today fell by Rs.1,400 to retail at Rs.122,700. Meanwhile, the 18-carat gold rates in India also declined by Rs. 1150, currently at Rs. 100,390.

100 grams of 22-carat gold slipped by Rs. 15,200 today, bringing the prices to Rs. 1,338,600. In a similar manner, the 24-carat gold per 100 grams fell by Rs.14,000 to retail at Rs.122,700. Lastly, 18-carat gold rates in India declined by Rs.11,500 per 100 grams, costing Rs.1,003,900.

Spot Gold Price & Spot Silver Price

"Today, gold slipped below $4,290 as market focus now shifts to delayed U.S. NFP, retail sales, and Dec S&P flash PMIs for clearer policy signals. Gold remains supported by a soft dollar and rate-cut expectations, though consolidation is expected ahead of key U.S. macro data." According to Kotak Securities Commodities Exchange Report.

"Spot gold settled modestly higher at $4,305 on Monday, trimming earlier gains as optimism emerged due to improved geopolitical sentiment, which encouraged some profit-taking in gold, even as the U.S. dollar remained broadly soft. Spot silver outperformed, surging over 3.5% to settle above $64, amid strong investor interest & momentum buying. Meanwhile, Fed officials' comments were mixed, as NY Fed President Williams struck a hawkish tone, emphasising policy's move toward neutral, while Governor Miran reiterated a dovish stance, advocating faster rate cuts." the report further added.

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