Silver Surges to ₹2.4 Lakh/kg as Gold Eases
On Friday March 20th silver prices rebounded sharply by Rs 8,540 or nearly four percent reaching a new high of approximately Rs 19.6 lakh per kg while gold futures eased to around ₹37 lakhs for ten grams on the MCX due to easing tensions in West Asia that boosted safe-haven appeal across bullion markets according to reports from The Hindustan Times and other outlets citing All India Sarafa Association data which noted a one percent increase of Rs 1,800 per kg.
Key Points
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1Silver prices rebounded sharply by approximately ₹8,540 to reach about ₹2.4 lakh/kg on Friday.
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2This recovery snapped a seven-day losing streak caused primarily by value buying pressure in the previous session.
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3Gold and silver both surged roughly 3% as easing tensions in West Asia boosted safe-haven demand across bullion markets.
Developments
Perspectives
Silver prices rebounded by approximately ₹1,800 to reach about ₹2.4 lakh (specifically Rs 2,40,500) per kilogram in the national capital on Friday.
— [Mar 20, 13:10] Silver rebounds Rs 1,800/kg...Silver prices surged due to easing tensions in West Asia and a rebound following sharp declines from previous sessions across bullion markets nationwide.
— [March 20], Check the latest silver price on Ma...In futures trade specifically at the Multi Commodity Exchange (MCX), Silver appreciated sharply by ₹8,540 to reach Rs.₹1 lakh per kilogram in May delivery contracts after a seven-day losing streak.
— [Mar 20], value buying halts...Silver prices rebounded on Friday at the MCX for futures trade with an appreciation of approximately four percent (Rs ₹8,540) to reach Rs.₹1 lakh per kilogram after a steep decline in recent sessions.
— [Mar 20], Silver Futures Rebound Sharply...Gold and silver both witnessed substantial price rises on Friday at the MCX with gains of approximately three percent driven by hopes that tensions would ease across West Asia, boosting safe-haven appeal for these precious metals.
— (Freepressjournal.in)Silver rebounded by Rs 1,800 per kg on Friday as it rose nearly one percent from Thursday's closing levels to reach a price of approximately Rs 240500 inclusive taxes while gold prices declined for three consecutive days. Gold fell further due to macroeconomic uncertainties and geopolitical tensions that have driven capital toward the US dollar despite some international market recovery, with analysts citing elevated interest rates as limiting upside potential in both metals globally
Silver futures climbed 3.68% on Friday as easing tensions between Israel and Iran boosted risk sentiment across bullion markets following a sharp decline earlier that day. Domestic silver prices recovered from an intraday low of Rs 2,37,500 per kg to close at approximately Rs 2,41,900 (up ~Rs 8,600 or roughly 2-3%), mirroring gains in international Comex markets which rose over the same period.
Silver futures rebounded sharply by ₹8,540 to close at ₹2.40 lakh per kilogram in India after a seven-day losing streak driven surging global oil prices and inflation fears that reduced expectations for interest rate cuts from major central banks including the ECB, BoE, Fed, Bank of Japan (BoJ), as well as rising energy costs fuelled by conflict
Silver prices rebounded sharply on Friday after a seven-day losing streak as investors reassessed positions following surging oil-driven inflation fears. Analysts attribute reduced demand for silver to rising energy costs and expectations of tighter monetary policy from major central banks, which have shifted investor preference toward the US dollar and Treasury bonds despite global futures halting their own decline temporarily in international markets.
Gold futures rose to approximately ₹1,47,534 per 10 grams and silver reached Rs 2,36,903 per kg on Friday as investors sought safe-haven assets amid easing tensions in West Asia. Analysts noted that while prices rebounded from Thursday's sharp decline due to hopes of reduced geopolitical risks, they remain influenced by rising inflation expectations driven by the US-Israel conflict and a strengthening dollar.