Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.
Click to view the details of the silver rate on 10th June
The current COMEX price of silver stands at $29.24 per ounce, reflecting a decrease of $0.634 or 2.12% from the previous trading session. The day's trading saw a high of $29.985 and a low of $29.135, with an opening price of $29.950. This price movement indicates a bearish trend, with investors potentially reacting to various market factors such as economic data, geopolitical tensions, or shifts in currency values. The silver market remains dynamic, influenced by both industrial demand and its status as a safe-haven asset, prompting traders to closely monitor fluctuations in its price.
The trading week began on a strong note, with prices briefly surpassing 23,400. However, this momentum quickly waned, leading to fluctuating prices throughout the session. By the end, profit-taking caused a minor decline of 0.13%, closing just above 23,250. The previous week was marked by significant price swings, but activity slowed after major events, resulting in a small negative candle on the daily chart. Moving forward, traders are advised to stay positive but selective, focusing on buying dips and taking profits regularly. Immediate support levels are at 23,130 and 23,000, with resistance between 23,400 and 23,500. Attention should shift to sectors poised to benefit from the upcoming budget.
Silver rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.
While these data points offer valuable insights into market trends and factors driving price movements to assist investors in navigating the silver market effectively, investors are advised to perform their own due diligence before making any investment decisions.
As the day progresses, we encourage investors to remain vigilant and monitor silver rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.
For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.