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Post by : Shakul
Silver prices in India surged sharply on Thursday as strong domestic buying pushed prices higher despite weakness in global markets. On the Multi Commodity Exchange (MCX), silver futures for May delivery opened 0.26% higher at ₹2,69,212 per kilogram, compared to the previous close of ₹2,68,491.
During the session, silver prices witnessed a sharp rally. The MCX silver price jumped by ₹5,323, or 1.98%, to ₹2,73,814 per kilogram.
In the global market, however, precious metals faced pressure due to the strengthening US dollar. Spot silver rose slightly by 0.3% to $86.06 per ounce, while gold prices slipped as higher crude oil prices increased inflation concerns and reduced hopes of near-term interest rate cuts.
Market analysts say silver prices remain highly volatile because the metal is widely used in industries such as electronics, solar panels and manufacturing, which often causes sharper price swings compared to gold.
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