Silver Slips 100 Rupees to Weekly Low
Indian silver prices dropped 100 rupees per 10 grams on Friday, breaking below the 2,500 rupee level held earlier in the week.
Silver traded at 245 rupees per gram in India on Friday. This represents a 100 rupee drop per 10 grams from Thursday. The price fell to 2,450 rupees per 10 grams. This level is the lowest recorded this week.
The decline erased all gains from the previous session. Seven of the ten tracked cities fell below the 2,500 rupee base. National pricing remains uniform across all major markets.
Uniform Pricing Persists Across Cities
All ten major cities recorded an identical 100 rupee decrease. This maintains the flat pricing map observed since Thursday. The two-tier pricing structure seen earlier in the week has disappeared.
Dealers in Delhi noted the recent volatility. They described Thursday's rise as a single-session pop. The standoff between buyers and sellers remains unresolved.
Global Factors Drive Domestic Rates
India's thin domestic demand leaves prices tied to global trends. Overseas industrial and investment buyers set the global spot price. A stronger US dollar weighed on silver during the session.
The rupee held steady against the dollar. This made imported silver cheaper for domestic buyers. GN auto markets/commodities: silver prices reflects this dynamic in its daily reporting.
Retail Demand Remains Steady
Silver serves as an accessible entry point for investors. Its lower cost per gram compared to gold attracts price-sensitive buyers. Dealers expect increased interest ahead of the Ganesh Chaturthi festival.
