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Silver prices nosedived to hit their lower circuit in futures trade on Monday, tumbling by Rs 20,409 to Rs 2.06 lakh per kilogram amid weak global trends and sustained selling pressure. On the Multi Commodity Exchange, silver for May delivery slumped Rs 20,409, or 9 per cent, to Rs 2,06,363 per kilogram, its lower circuit limit. Analysts said the sharp fall came despite escalating tensions in West Asia, as broader macroeconomic factors weighed heavily on precious metal prices. Silver prices have fallen sharply on Monday despite escalating West Asian tensions due to overriding macroeconomic pressures, Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said. He added that a strong US dollar and rising Treasury bond yields have weakened bullion by increasing holding costs and making dollar-denominated metals more expensive for global buyers. In the international market, silver futures on the Comex for the May contract declined by USD 6.51, 9.34 per cent, to USD 63.15 per
Silver futures plunged by Rs 4,232 to Rs 2.55 lakh per kilogram in the futures trade on Monday, as weak domestic demand and a strong US dollar weighed on investors' sentiment. On the Multi Commodity Exchange, the white metal for the May delivery declined by Rs 4,232, or 1.63 per cent, to Rs 2,55,203 per kilogram in a business turnover of 5,787 lots. Analysts said silver prices remained under pressure as weak retail demand in the domestic market coincided with macroeconomic headwinds in global markets. Indian bullion dealers have extended discount offerings to unprecedented levels, reaching USD 83 per ounce over domestic official pricing -- inclusive of 6 per cent import and 3 per cent sales levy -- the highest discount observed since July 2016, compared to USD 28 in the previous week, Renisha Chainani, Head - Research at Augmont, said. The sharp increase in dealer discounts indicates a profound weakening in retail demand for precious metals, she said, adding that jewellers have ...
Precious metal prices climbed 3 per cent in the national capital on Monday, with silver surging to Rs 2.7 lakh per kilogram and gold advancing to Rs 1.6 lakh per 10 grams, due to strong safe-haven demand amid growing global trade uncertainties after the US Supreme Court ruling against Trump's tariffs. According to the All India Sarafa Association, silver jumped Rs 8,000, or 3.03 per cent, to Rs 2,72,000 per kilogram (inclusive of all taxes) from Friday's closing level of Rs 2,64,000 per kg. Gold of 99.9 per cent purity also increased by Rs 3,300, or 2.06 per cent, to Rs 1,62,800 per 10 grams (inclusive of all taxes). It had settled at Rs 1,59,500 per 10 grams in the previous market session. Silver and gold extended bullish momentum on Monday, with both metals trading at a three-week high, supported by renewed safe-haven demand. The rally came following a landmark US Supreme Court ruling against Trump's tariffs, which triggered sharp cross-asset volatility and prompted investors to
Silver prices on Monday rose nearly 5 per cent to Rs 2,65,282 per kg in the futures market as renewed global tariff tensions boosted demand for safe-haven assets. On the Multi Commodity Exchange (MCX), silver futures for March delivery zoomed Rs 12,338, or 4.88 per cent, to Rs 2,65,282 per kg in 6,024 lots. In the international market, comex silver futures for March contract rose 5.58 per cent, or USD 4.5, to USD 86.93 per ounce. Silver climbed to trade above 5 per cent, extending gains to a fourth session as renewed tariff tensions boosted demand for safe-haven assets, Jigar Trivedi, Senior Research Analyst at Indusind Securities, said. Meanwhile, US President Donald Trump raised a global levy from 10 per cent to 15 per cent following the US Supreme Court's rejection of his "reciprocal" tariffs. Amid this, India delayed talks aimed at finalising an interim deal with Washington. "Investors also grappled with growing fears that the Trump administration could initiate military acti