New Delhi, 5 December (H.S.): The domestic bullion market witnessed a slight softening in silver prices on Friday, with declines limited to around Rs 100 per kilogram. This marginal downturn pushed silver below the Rs 2 lakh per kilogram mark again in key centres like Chennai and Hyderabad.

Across various Indian bullion hubs, silver traded within a range of Rs 1,87,700 to Rs 1,95,900 per kilogram.In Delhi, silver prices slipped to Rs 1,90,900 per kilogram, while Mumbai, Ahmedabad, and Kolkata saw rates around Rs 1,90,700 per kilogram. Cities such as Jaipur, Surat, and Pune recorded rates close to Rs 1,91,000, accompanied by Bengaluru at Rs 1,91,200 and Patna and Bhubaneswar at Rs 1,90,800 per kilogram.

Chennai and Hyderabad continued to exhibit the highest domestic prices, with silver retreating to Rs 1,99,900 from the Rs 2 lakh threshold.Rajiv Datta, CEO of Capex Gold and Investments, indicated optimistic prospects despite the current price moderation. Internationally, silver maintained levels above $55 per ounce, trading around $58.57 per ounce on Friday.

Fueled by rising industrial demand, global prices could escalate to $63-$65 per ounce in the near term. Datta advised caution for retail investors navigating the ongoing price volatility while planning their investment strategies.

The silver price fluctuations reflect a complex interplay of domestic demand-supply dynamics and global market influences, highlighting the persistent significance of this precious metal in India’s financial landscape.

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Hindusthan Samachar / Jun Sarkar