Silver Rate Today: White metal plunges by more than ₹1,000 on May 21st

Silver rate today gains ground on economic uncertainty

The Multi Commodity Exchange (MCX), registered an fall in the rates of silver, after the metal crossed the threshold of Rs. 95,000 on the previous day.

Advertisement

As per the latest quotes, the silver rate for delivery in July stood at ₹93,888 per kilogram, marking a fall of ₹1,379 or 1.45% from the previous close of ₹95,267 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 ₹96,705 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.