Silver rate today (10th June 2024): Leading Indian Cities
Jun 10, 2024, 11:47 IST
On Monday, the silver rate experienced a subtle increase across India. In Delhi, 10 grams of silver would cost you ₹ 96200 today. Meanwhile, on the MCX, silver contracts for June delivery traded lower 200, settling at ₹ 65,700 per 1kg.
Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.
Click to view the details of the silver rate for last Friday
The current silver COMEX price is $29.670, reflecting an increase of $0.230 or 0.78%. During the trading session, silver reached a high of $29.695 and a low of $29.230, with the market opening at $29.250. This uptick in silver prices highlights a positive shift in market sentiment, possibly driven by increased demand or favorable economic indicators. The stability observed in the session's range suggests that silver remains a valuable commodity, with investors closely monitoring its performance amid broader market fluctuations. Overall, silver's upward movement signals a resilient trend in the precious metals market.
Amid recent events, the Indian equity markets saw a week of high volatility, with significant swings in both directions. Following initial record highs, the market declined post-election but rebounded to new peaks, with the Nifty50 closing at a record 23,300, up over 3.30%. The Lok Sabha election results caused a roller-coaster week. Technically, Nifty stayed above key EMAs and the 'Rising Channel' upper band, indicating a bullish outlook. As it approaches the 23,500-resistance zone, support is anticipated around 23,000–22,800. Enhanced market participation has uplifted sentiment, while global developments will shape the intermediate trend. A consolidation period is expected.
Silver is regarded as a reliable hedge against inflation, owing to its historical tendency to maintain or appreciate in value during inflationary periods. As a result, it is a popular choice among investors seeking to shield their wealth from the adverse effects of inflation. This quality makes silver an especially attractive investment for those aiming to preserve their purchasing power during times of economic uncertainty.
The provided data points furnish significant insights into market trends and the drivers behind silver price fluctuations, aiding investors in navigating the market effectively. However, it is advisable for investors to conduct their own due diligence before reaching investment decisions. Throughout the day, investors are encouraged to stay vigilant and closely track gold rates for emerging trends and market developments. By remaining informed about these daily price fluctuations, investors can spot potential trading prospects and make informed investment choices, thereby enhancing their investment strategies.
For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.
Advertisement
Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.
Check silver rates in different cities on 10th June 2024
| City | 10 grams | 1kg |
| Delhi | ₹ 917 | ₹ 96200 |
| Mumbai | ₹ 917 | ₹ 91700 |
| Kolkata | ₹ 917 | ₹ 91700 |
| Chennai | ₹ 962 | ₹ 96200 |
| Bengaluru | ₹ 904 | ₹ 90400 |
| Hyderabad | ₹ 962 | ₹ 96200 |
| Ahmedabad | ₹ 917 | ₹ 91700 |
| Pune | ₹ 917 | ₹ 91700 |
| Surat | ₹ 917 | ₹ 91700 |
| Nagpur | ₹ 917 | ₹ 91700 |
| Vijayawada | ₹ 962 | ₹ 96200 |
| Kerala | ₹ 962 | ₹ 96200 |
Click to view the details of the silver rate for last Friday
The current silver COMEX price is $29.670, reflecting an increase of $0.230 or 0.78%. During the trading session, silver reached a high of $29.695 and a low of $29.230, with the market opening at $29.250. This uptick in silver prices highlights a positive shift in market sentiment, possibly driven by increased demand or favorable economic indicators. The stability observed in the session's range suggests that silver remains a valuable commodity, with investors closely monitoring its performance amid broader market fluctuations. Overall, silver's upward movement signals a resilient trend in the precious metals market.
Amid recent events, the Indian equity markets saw a week of high volatility, with significant swings in both directions. Following initial record highs, the market declined post-election but rebounded to new peaks, with the Nifty50 closing at a record 23,300, up over 3.30%. The Lok Sabha election results caused a roller-coaster week. Technically, Nifty stayed above key EMAs and the 'Rising Channel' upper band, indicating a bullish outlook. As it approaches the 23,500-resistance zone, support is anticipated around 23,000–22,800. Enhanced market participation has uplifted sentiment, while global developments will shape the intermediate trend. A consolidation period is expected.
Advertisement
Silver is regarded as a reliable hedge against inflation, owing to its historical tendency to maintain or appreciate in value during inflationary periods. As a result, it is a popular choice among investors seeking to shield their wealth from the adverse effects of inflation. This quality makes silver an especially attractive investment for those aiming to preserve their purchasing power during times of economic uncertainty.
The provided data points furnish significant insights into market trends and the drivers behind silver price fluctuations, aiding investors in navigating the market effectively. However, it is advisable for investors to conduct their own due diligence before reaching investment decisions. Throughout the day, investors are encouraged to stay vigilant and closely track gold rates for emerging trends and market developments. By remaining informed about these daily price fluctuations, investors can spot potential trading prospects and make informed investment choices, thereby enhancing their investment strategies.
For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.