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Silver prices rallied by Rs 6,066 to Rs 2.52 lakh per kilogram in futures trade on Monday as easing geopolitical tensions in West Asia and a weaker US dollar improved sentiment in the bullion market. On the Multi Commodity Exchange, the white metal for July delivery surged Rs 6,066, or 2.46 per cent, to Rs 2,52,252 per kilogram in a business turnover of 11,420 lots. In the past week, silver fell Rs 2,351, or nearly 1 per cent, to Rs 2.46 lakh per kg. The rebound comes after US and Iranian officials announced that they had reached an initial agreement to end the conflict, lift the US naval blockade on Iran and reopen the Strait of Hormuz, a key route for global energy supplies. In a post on Truth Social, US President Donald Trump said, "The deal with the Islamic Republic of Iran is now complete," adding that he had authorised the reopening of the Strait of Hormuz and the immediate removal of the US naval blockade. In the international markets, Comex silver futures for July contract
The Bureau of Indian Standards (BIS) is examining the regulatory framework and infrastructure readiness required to make hallmarking of silver jewellery and artefacts mandatory, Director General Sanjay Garg said on Thursday. Silver hallmarking has been voluntary since 2005 and from September 2025 onwards, hallmarked silver articles carry a Hallmark Unique Identification (HUID) number, enabling buyers to verify purity. "Silver hallmarking is far more complex than gold, not in terms of process but the kind of market it has," Garg told PTI on the sidelines of a Ficci event here. Unlike gold, silver jewellery and artefacts are sold across both small and large stores, and the category even extends to silver furniture, he noted. "We are studying the implementation process," he said. According to Garg, the entire hallmarking operation within BIS is run by just five people, with the rest of the workforce either private or outsourced. "Operating hallmarking centres with the help of privat