Silver rate today rises on economic uncertainty
The white metal on the MCX (Multi Commodity Exchange) climbs upwards to cross Rs. 95,000 threshold on May 29, Wednesday.
As per the latest quotes, the silver rate for delivery in July stood at ₹95,968 per kilogram, marking a fall of ₹520 or 0.54% from the previous close of ₹95,448 per kg.
Silver rate in retail market today
For those looking to buy silver for investment or industrial purposes, the retail rate inclusive of the 3% Goods and Services Tax (GST) would be around ₹98,847 per kg.
Note: It’s important to note that silver prices may vary across different cities depending on local demand-supply dynamics and premiums charged by traders.
The rise in the silver rate today can be attributed to concerns over slowing economic growth and persistent inflationary pressures, which have boosted the safe-haven appeal of precious metals.
