New Delhi, 01 May (H.S.): Spot silver prices are witnessing a downward trend in domestic bullion markets today. In Delhi's bullion market, silver has declined by ₹5,000 per kilogram, trading at ₹2,49,900 per kilogram.

Similarly, silver is trading at ₹2,49,700 per kilogram in Mumbai, Ahmedabad, and Kolkata. Meanwhile, in Jaipur, Surat, and Pune, silver holds steady at ₹2,50,000 per kilogram.

In Bengaluru, silver trades at ₹2,50,200 per kilogram, while Patna and Bhubaneswar record ₹2,49,800 per kilogram. Hyderabad sees silver down ₹8,600 per kilogram at ₹2,69,800 per kilogram. Despite the decline, Chennai maintains the highest price at ₹2,70,100 per kilogram after falling ₹8,900 per kilogram.

Market expert Mayank Mohan attributes the decline to reduced industrial demand for silver due to ongoing conflict in West Asia. He notes limited fluctuations in this precious metal's price currently. Until tensions in West Asia subside, no definitive predictions can be made about stability or upward movement in gold and silver prices in international markets.

However, expectations persist that industrial activities will accelerate post-peace in West Asia, boosting international silver demand. This could trigger renewed price appreciation for the metal, inevitably impacting domestic bullion markets as well. Any potential silver price recovery hinges entirely on the cessation of conflict in West Asia.

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Hindusthan Samachar / Jun Sarkar