Silver prices in Kolkata declined sharply on Wednesday, February 5, tracking the broader fall in global bullion markets. According to the latest available rates, silver is priced at Rs 3,000 per 10 grams in Kolkata, while 100 grams of silver costs Rs 30,000. The price of one kilogram of silver stands at Rs 3,00,000 in the city.
The drop in Kolkata silver prices mirrors the nationwide trend, with domestic rates reacting to a steep correction in international silver prices. Compared to the previous session, silver has recorded a notable decline across all weight categories, reflecting heightened volatility in the precious metals space.
Bullion traders in Kolkata indicated that local demand-supply conditions remained stable, and the price movement was primarily driven by global factors rather than city-specific developments. International silver prices came under heavy selling pressure after a brief rebound failed to hold, leading to sharp losses that were quickly reflected in domestic markets.
Globally, a stronger US dollar, hawkish signals from the US Federal Reserve, and easing geopolitical tensions reduced safe-haven demand for precious metals, weighing on silver prices. As India depends heavily on silver imports, such global developments tend to influence domestic prices swiftly, including in Kolkata.
With silver prices witnessing sharp swings, market participants in Kolkata are closely monitoring global cues and currency movements for further direction.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
