Silver Rate In India Frozen For 2nd Day After Rs15000 Crash; Still 31% Below Peak; Check Feb 26 City Wise Rate
Business
Silver prices in India today observed no major movement for the second consecutive day today after the volatility seen this week, where silver rates gained overall 10,000 per kg. The precious metal market has undergone a lot of ups and downs in recent times.
Silver entered a bullish phase in January this year where the prices infrared at an unprecedented level to reach the all time high of 4.15 lac per kg. However, this rally in the silver rate in India was short-lived, and the prices came crashing down sharply. As of today, silver is trading 31% below its record high level
Even In the international market, spot silver today experienced a slight drop after posting back-to-back gains. The white metal is now hovering near the $88 per ounce mark,
The silver rate today is stable across major cities, including Bangalore, Delhi, Hyderabad, Chennai and Ahmedabad.
Silver Rate Today In India
On February 26th, the silver rate in India was stable at Rs. 2,85,000 per kg, while the silver rate per 100 gram hovered near Rs. 28,500
According to a report by Nirmal Bang Securities, “Silver prices are expected to correct. Traders can sell at Rs. 2,64,000 with a stop loss of Rs. 2,70,000 for the target at Rs. 2,57,000- Rs. 2,50,000. Traders can also buy from Rs. 2,50,000 maintaining a stop loss of 2,45,000”
MCX Silver Futures Prices
Silver Futures Prices on MCX today are trading with losses. As of Midday Silver futures were quoting Rs. 2,64,500 per Kg down by 1.42%.
Spot Silver Prices
Silver prices in the international market rose on Wednesday due to a fall seen in treasury yields ahead of key US jobs data. According to Reuters, Spot silver was up 2.2% at $82.43 per ounce.”
As per Kotak Securities, ” Spot silver broke above $90 on Wednesday supported by trade jitters and expectations of potential Fed rate cuts . However, gold and silver settled near $5,165 and $89.2 respectively as trading was halted for more than half an hour. Risk sentiment deteriorated after Trump, during his State of the Union address, reiterated his commitment to expanding tariffs, including a newly implemented 10% global levy, with efforts to raise it to 15% following the Supreme Court’s rollback of earlier measures. Geopolitical risk premiums also firmed after Trump accused Iran of reviving nuclear ambitions, intensifying speculation of possible military action. “
Silver Prices in Other Major Indian Cities On Feb 26
Chennai + Hyderabad
Both Silver prices in Chennai & silver prices in Hyderabad today were stable at Rs. 2,95,000 per kg.
Bangalore + Mumbai
Similarly, silver rate in Bangalore & silver prices todayin Mumbai were retailing at the same levels, on February 26, at Rs. 2,85,000 per 1 kg with no movements today
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