After swinging between losses and booking of profit, the silver price has been closing at Rs 42000 rupees per Kg. The market expert said that business sentiment direction in the local market has dimmed according to the trend of weakening overseas following the US Federal Reserve prompted the dollar's rise in interest rates this year.
Stronger dollar demand was more affected by the strengthening of the dollar. Apart from this, the prices of small local jewelry vendors and retail traders in the domestic spot market also kept the pressure on prices. Fine and good silver price (999), Britannian silver price (958), Sterling silver price (925) and jewelry silver price (800) update daily basis.
Silver ready also rose by Rs 251 to Rs forty-two thousand per kg on weekly offtake of the market, while in comparison to other silver weekly-based delivery closed at Rs 42 thousand per kg with a loss of some Rs. However, the price of silver coins remained steady and closed at the closing level of the last some weekend at Rs 925 Sterling Silver Price per Gram.
Silver ready fell by Rs 250 to Rs 42 thousand per kg and monthly-based delivery by Rs 925 per 1000gm. However, the other part price of silver coins remained unchanged. On Monday 16 May, gold in the New York market reached the lowest level of this year.
According to the Sarafa traders, pressure on gold and silver prices was also seen due to the reduction in demand from local jewelers and retailers. In the upcoming some month, fall may be more due to the problem in small-scale business. If you are planning to buy silver in large amount then this is not the best time to buy but in the upcoming month, it is on down position so that one is the best time to buy. Silver is the best investment to invest the money with respect to time. If you want to know more about silver make more research current basis or you can visit some more good side where silver.
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Also Read This Blog:- Silver and It’s Properties | Gold and Silver Buyer Delhi NCR
