Silver Rate Today, June 17: How much you have to pay for 999 silver?

Silver price in the Indian market were steady today. According to GoodReturns.in, the precious white-metal traded steady at ₹2,65,000 per kg.

The price has fallen a sharp over 40%, since the highs scaled early this year.

Factors influencing silver rates today

On the MCX, silver rates are down. Silver July futures at around 9:13 am quoted lower by 0.22% or ₹545 at ₹2,49,560.

This is even as US silver futures traded in the green, up 0.43% at $70.31 per ounce.

Analysts attribute the decline in precious metal to risk-on sentiment that is gathering pace with the easing geo-political tensions. The upbeat sentiment is taking sheen of the precious metal as they are losing their safe-haven appeal.

In the near term, silver price trajectory will be determined by the interest rate action of the US Federal Bank later today.