Gold and silver prices continue to fall. Especially the price of silver is falling rapidly every day. On Monday, silver futures fell by ₹9,000 per kg on the Multi Commodity Exchange, while on Tuesday the price of one kilogram of silver fell by more than ₹10,000. Silver prices have fallen not only on MCX exchange but also in the domestic market.
Silver falling daily on MCX
If you are planning to buy or invest in silver, it is important to know its latest prices. There has been a continuous decline in silver prices for the last few days, and it has become much cheaper than its highest level. First of all let’s talk about MCX silver rate. On Friday, the last trading day of last week, the future price of silver with expiry date March 5 closed at ₹ 2,44,360, and during Monday’s trading it slipped to ₹ 2,35,208 per kg. However, by market close it recovered and fell by Rs 4,469 to Rs 2,39,891 per kg. After falling on Monday, silver prices again saw a big fall on Tuesday. MCX Silver Price fell sharply to Rs 2,29,352 per kg from its previous closing price of Rs 2,39,891. This means that silver became cheaper by Rs 10,539 per kg. As a result, the future price of silver has fallen by Rs 15,008 per kg in just two days.
Silver rate in domestic market
While the prices of gold and silver have fallen in future trading on MCX, the price of silver in the domestic market has also fallen by more than Rs 8,000 per kg in just two days. In fact, if we look at the updated rates on Indian Bullion Jewelers Association’s website IBJA.com, last Friday the price of 1 kg silver in the domestic market was Rs 2,42,433. However, at the end of trading on Monday, the first trading day of the week, it fell to Rs 2,40,947 per kg.
When trading started in the domestic market on Tuesday, it fell further to Rs 2,34,380. As a result, it has become cheaper by Rs 8053 per kg compared to Friday’s closing price. The thing to note is that the rates updated by IBJA are the same across the country, but when you go to buy it in the domestic bullion market, you have to pay 3% GST along with the making charges when you buy jewellery. This increases the price. Making charges may vary from state to state.
Gold and silver prices continue to fall. Especially the price of silver is falling rapidly every day. On Monday, silver futures fell by ₹9,000 per kg on the Multi Commodity Exchange, while on Tuesday the price of one kilogram of silver fell by more than ₹10,000. Silver prices have fallen not only on MCX exchange but also in the domestic market.
Silver falling daily on MCX
If you are planning to buy or invest in silver, it is important to know its latest prices. There has been a continuous decline in silver prices for the last few days, and it has become much cheaper than its highest level. First of all let’s talk about MCX silver rate. On Friday, the last trading day of last week, the future price of silver with expiry date March 5 closed at ₹ 2,44,360, and during Monday’s trading it slipped to ₹ 2,35,208 per kg. However, by market close it recovered and fell by Rs 4,469 to Rs 2,39,891 per kg. After falling on Monday, silver prices again saw a big fall on Tuesday. MCX Silver Price fell sharply to Rs 2,29,352 per kg from its previous closing price of Rs 2,39,891. This means that silver became cheaper by Rs 10,539 per kg. As a result, the future price of silver has fallen by Rs 15,008 per kg in just two days.
Silver rate in domestic market
While the prices of gold and silver have fallen in future trading on MCX, the price of silver in the domestic market has also fallen by more than Rs 8,000 per kg in just two days. In fact, if we look at the updated rates on Indian Bullion Jewelers Association’s website IBJA.com, last Friday the price of 1 kg silver in the domestic market was Rs 2,42,433. However, at the end of trading on Monday, the first trading day of the week, it fell to Rs 2,40,947 per kg.
When trading started in the domestic market on Tuesday, it fell further to Rs 2,34,380. As a result, it has become cheaper by Rs 8053 per kg compared to Friday’s closing price. The thing to note is that the rates updated by IBJA are the same across the country, but when you go to buy it in the domestic bullion market, you have to pay 3% GST along with the making charges when you buy jewellery. This increases the price. Making charges may vary from state to state.
