Silver prices remained under pressure in early trading on November 9, tracking weakness in international bullion markets. Comex silver was quoted around $51.815 per ounce, down approximately 0.24%, while MCX December silver futures were trading near Rs.1,85,011 per kilogram at around 7:07 a.m. IST.
Silver had settled at Rs.1,85,100 per kilogram during the previous day’s special Muhurat trading session, recording a marginal gain. However, the latest decline indicates that the metal continues to face pressure from currency movements, interest-rate expectations and changes in global investment demand.
Apart from its role as a precious metal, silver is widely used in solar panels, electronics and industrial applications. Demand from these sectors, alongside investment activity, will remain important factors influencing prices.
Source: NDTV Profit – Gold and Silver Rates; The Economic Times – MCX Silver Prices.
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