Silver Price Today In India: Futures of the white metal soared more than 3% on Monday
Silver Price: Domestic silver futures trimmed gains after rising more than 3 per cent on Monday tracking gains in global prices of precious metals. Multi Commodity Exchange (MCX) silver futures – due for a delivery on September 4 – quoted at Rs 69,300 at the strongest level recorded during the session, up 3.17 per cent or Rs 2,129 compared to their previous close of Rs 67,171. The MCX silver futures contract settled at Rs 69,080 for the day, up 2.84 per cent – or Rs 1,909 – from its previous close. (Track Current Silver Price Here)
Silver futures started the day on a negative note, falling to as low as Rs 52,113 in morning, but recovered early losses to push higher after the first 90 minutes of trade.
In the international market, silver gained 1.5 per cent to $26.81 per ounce. Spot gold was last seen trading 0.3 per cent higher at $1,949.09 per ounce. Domestic gold futures ended Rs 321 – or 0.61 per cent higher at Rs 52,585. (Track Current Gold Rate Here)
The dollar index – which measures the dollar against six currencies – was last seen trading 0.14 per cent lower, having fallen as much as 0.22 per cent earlier on Monday.
#Gold and #Silver Closing #Rates for 17/08/2020#IBJApic.twitter.com/lsBENZg4k3
— IBJA (@IBJA1919) August 17, 2020
The closing rate of silver jewellery stood at Rs 68,034 per kilogram on Monday, excluding Goods and Services Tax, according to Mumbai-based industry body India Bullion and Jewellers Association. Precious metal prices in the country vary from state to state due to VAT or value added tax.
Jewellery prices are calculated by taking into account factors such as excise duty and making charges.
