Silver prices declined by over Rs 4,400 on the multi commodity exchange of India to an intraday low of Rs 2,29,711 per kilograms.
The silver august futures pared some losses to trade 1.5% or Rs 3,514 lower at Rs 2,30,493 per Kg as of 12:15 p.m. Spot silver slipped 0.29% to $63.22 an ounce.
In the morning, Silver 999 fine was at Rs 2,32,280 per kg at India level. Silver 925 sterling was at Rs 2,15,784 per kg. Notably, Silver prices have rallied 104.78% over the last one year. It was at Rs 1,13,920 per kg on August 19, 2025.
India depends massively on overseas imports for silver supplies, and is one of the world's largest consumers of the devil's metal. The higher local prices work in favour for trade they create incentives for traders to sell silver to the country.
Gold futures traded little changed on the MCX at Rs 1,53,953. In the earlier half of the day, the yellow metal 24K gold was quoted at Rs 1,54,570 per 10 grams at the India level, while silver 999 fine was at Rs 2,33,280 per kg as of 06:25 am.
However, spot rates edged upwards, with gold trading 0.54% higher at $4,358.12 an ounce.
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