Silver Price – Silver ₹1.95 Lakh Cheaper from Peak, Check Latest rates

Silver Weekly Update: Significant fluctuations were observed in gold and silver prices over the past week. Both gold and silver prices witnessed a surge on the Multi-Commodity Exchange (MCX). Futures prices for silver changed by ₹11,000 per kilogram. Silver is currently trading at a discount of ₹1.95 lakh per kilogram compared to its all-time high. Meanwhile, gold is trading at a discount of over ₹50,000 per 10 grams relative to its peak.

According to the Indian Bullion and Jewellers Association (IBJA), by the time the market closed on Friday, the price of gold was ₹1,51,078 per 10 grams, while the price of silver was ₹255,600 per kilogram. Since the markets are closed on Saturdays and Sundays, these rates will apply on both days.

How ​​much did gold prices change over the week?
Gold prices rose over the past week. On the MCX, the contract for 10 grams of gold with a June 5th expiry closed at ₹1,51,352 on May 1st. However, by last Friday, the price had risen to ₹1,52,589 per 10 grams. This precious yellow metal has thus become dearer by ₹1,237. Nevertheless, the price remains significantly affordable. When compared to current market rates, 10 grams of 24-carat gold is still trading at a discount of ₹50,395 per 10 grams.

How ​​much did silver prices change?
In just five trading days, silver has become dearer by ₹11,062 per kilogram. At the close of trading on May 1st, the futures contract for silver with a July 3rd expiry closed at ₹2,50,937 per kilogram; by last Friday, it had surged to close at ₹2,61,999 per kilogram. Silver touched ₹457,328 per kilogram on January 29; since then, the price of 1 kg of silver has declined by ₹195,329.