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Economy

Silver rate today hits record high on MCX; global prices cross $65 for first time — Is it right time to buy?

Silver prices have surged to record highs, with MCX silver reaching ₹2,04,445 per kg and global spot silver crossing $65.63 an ounce, driven by weakened US labor data and expectations of Federal Reserve interest rate cuts. In contrast, gold prices have experienced slight declines amid a stronger dollar.

Silver rate today hits record high on MCX; global prices cross $65 for first time — Is it right time to buy?

Credit: Livemint

Key Highlights

  • MCX silver hit a record high of ₹2,04,445 per kg, rising 4%.
  • Global spot silver reached $65.63 an ounce for the first time.
  • Gold prices declined slightly, with MCX gold at ₹1,34,129 per 10 grams.
  • The surge in silver is attributed to weak US labor data and rate cut expectations.
  • The dollar index increased by 0.20%, impacting gold prices negatively.
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Sources

  1. Silver rate today hits record high on MCX; global prices cross $65 for first time — Is it right time to buy?
  2. Gold rates slip on dollar's rise; silver jumps 4% on MCX on strong spot demand; experts highlight key levels to watch

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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