Silver Rate Today, June 19: Prices fall for second day; check 999 silver rate across major cities

Silver prices in the Indian retail market tumbled by ₹10,000 per kg. According to GoodReturns,in, prices at around 12:02 pm quoted at ₹2,50,000 per kg.

Over the past 10 days, silver prices after moving in a narrow range are unchanged at ₹2,50,000.

Factors influencing silver rates

Silver prices on the MCX are down significantly today mirroring weak sentiment in the international bullion market. At around the time of writing this copy, silver July futures traded with a cut of ₹6,306 at ₹2,31,266 per 10 gm.

In the international market, US silver futures were even dragly sharply by as much as 3.41% to $64.06 per ounce.

The brutal sell-off the precious metal continued for the second day, when silver declined 5% internationally in the previous session.

Amid inflationary pressure in the wake of the geo-political turmoil, an increasing number of central banks either took to raising borrowing costs or signaled a tighter policy stance for curbing inflation.

And higher interest rates weigh on precious metals such as silver as they do not yield any interest.