Silver rate today (12th June 2024): Latest Rates in Major Cities

On Wednesday, silver rates saw a subtle raise across India. In Delhi, 1kg of silver would cost you ₹90500 today. Meanwhile, on the MCX, silver contracts for June delivery traded higher ₹800 settling at ₹ 91,300 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 on 11th June

The COMEX silver price was $29.455, reflecting an increase of $0.224 or 0.77%. During the trading session, silver reached a high of $29.585 and a low of $29.280, with an opening price of $29.385. This upward movement indicates a positive trend, suggesting increased investor interest and demand in the precious metals market. The narrow range between the high and low prices shows relative stability, yet the overall gain signifies a bullish sentiment. Investors are closely monitoring such fluctuations to capitalize on potential profits, especially in light of global economic conditions and market dynamics influencing precious metal prices.

The Nifty index started positively and rose towards the 23400 mark, but lacked follow-up buying, leading to profit booking and ending flat at 23265. A 'Doji' pattern on the daily chart indicates uncertainty and lack of momentum, with prices oscillating within 23200-23400, possibly extending to 23100-23500. The market's undertone remains bullish, suggesting traders may buy on dips and book profits at higher levels. Despite key indices having a lackluster session, mid-cap and small-cap indices hit new highs. Traders should adopt a stock-centric approach, be selective, and watch global cues for further market alignment.

Silver rates fluctuate daily due to numerous short- and long-term factors including supply and demand shifts, economic indicators, geopolitical events, currency movements, and investor sentiment. The precious metals market's dynamic nature necessitates continuous monitoring and analysis of pricing data for investors and traders to make informed decisions. These data points provide valuable insights into market trends and the factors driving price movements, aiding investors in effectively navigating the silver market.

Meanwhile, Investors are encouraged to perform their own thorough research before making any investment decisions. Staying vigilant and monitoring silver rates closely throughout the day for emerging trends or market developments is crucial. By keeping informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed decisions. This proactive approach helps in capitalizing on market conditions and mitigating risks associated with silver investments. Thus, continuous analysis and informed vigilance are key strategies for successful investment in the silver market.

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.