Silver rate today: Unless we see a sharp decline in gold or copper prices, silver is likely to trade with a bullish bias
Silver is expected to trade with a positive bias in near-term on the US presidential election uncertainties, healthy ETF inflows, and strong demand in India amid geopolitical tensions
The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 71,610
The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 71,410
Surging US Dollar Index and tumbling bond prices are acting as headwinds for the metal as the US rate cut pace has become somewhat uncertain in the short term. Dip buying is preferred.
The price of 22-carat gold also witnessed a decline of Rs 10, with ten grams of the yellow metal selling at Rs 70,990
On Tuesday, silver surged sharply higher on an unexpectedly huge stimulus package announced by China's Central Bank and the Chinese authorities.
Spot silver was extremely volatile in the wake of the US Fed cutting rates by 50-bps at its FOMC meeting concluded on September 18.
Silver price outlook by Sharekhan: Silver has got many supporting factors to push it higher as the Fed begins slashing rates.
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 68,640
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 68,810
On Thursday, spot silver rallied to a nearly three-week high on Fed rate cut bets and firmer industrial commodities.
Spot silver was steady around $28.30 at the time of the MCX closing. The MCX December silver contract at Rs 73,700 was up around 0.07 per cent.
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 67,160
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,940
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,690
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 65,540
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 64,440
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 64,690
The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 64,690