Silver Rate Today, May 8: How much you have to pay for 999 silver

Silver price continued to shine today, rallying for few days now. In the National Capital, silver prices gained by ₹5000 per kg to ₹2.75 lakh per kg. On Thursday, silver prices quoted at ₹2.7 lakh per kg.

In the last 10 days. after showing extreme volatility, silver prices gained from ₹2.6 lakh per kg to ₹2.75 lakh, marking an increase of ₹15,000 per kg.

Senco Gold: 1 kg 999 purity silver will cost ₹3,22,905 per kg ( the rates are inclusive of GST and making charges)

Joyalukkas: 20 gm silver bar costs ₹6,460.

Factors influencing silver rate today

Silver prices have been on an uptrend since the start of the week, mirroring sharp gains in the international market.

As we write at around 12:15 pm, silver US futures traded with gains of over 1% at $81 per ounce.

Meanwhile, on the MCX, silver July futures traded with gains of 1.17% at ₹2,61,559. At the day's high, the metal scaled ₹2,62,723 per kg.

The dollar's decline as well as softening in the crude oil, easing inflationary and higher-for-longer interest rates offered some support to the precious metals.

On the US-Iran war front, even as fresh clashes emerged between the two nations, Iran said normalcy was restored, while the US stated that it did not wanted to escalate the situation.