Silver Rate Today (May 24, 2024): Prices Across Major Indian Cities

On Friday, there was a decline in silver rates across India. In Delhi, the current rate for 1kg of silver is ₹92000. Meanwhile, on the MCX, silver contracts for June delivery rose by ₹500, settling at ₹ 92,000 per 1kg. The decline in silver prices indicates high investor interest amidst global economic uncertainties and fluctuating currency values, which is driving demand for this valuable metal.

Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.

Check silver rates in different cities on 24th May 2024

The current COMEX silver price sits at $30.695 per ounce, witnessing a $0.243 uptick, reflecting a 0.80% increase. Throughout the session, silver oscillated between $30.720 and $30.242, starting at $30.328. This upward movement indicates a positive trend in the silver market, showcasing heightened investor confidence and the possibility of continued advancement. Investors may find encouragement in this momentum, suggesting potential for further gains in the near future.

This dip in silver prices suggests strong investor interest amid global economic uncertainties and fluctuating currency values. The ongoing bullish trend in the silver market mirrors the upward momentum observed in the Nifty index, which closed with a significant gain of 1.65%, just below the 23000 marks. This surge was fueled by a breakthrough in resistance levels, indicating potential further gains in the silver market. Investors are advised to remain cautious and vigilant amidst the persisting volatility, refraining from aggressive overnight positions.

As the day progresses, remaining vigilant and closely monitoring silver rates for emerging trends or market developments is encouraged. 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.