{
  "type": "article",
  "title": "Silver Tumbles Rs 5,000 on Tuesday as Dollar Surge Drags 999 Purity Bullion Below Rs 2.50 Lakh",
  "summary": "Silver prices in India fell sharply on Tuesday, July 23rd, with 1 kg now at Rs 2.45 lakh in most cities after a Rs 5,000 single-day decline. A surging US dollar near a 13-month high and broad global safe-haven selling drove both MCX and spot silver significantly lower.",
  "content": "Silver markets in India took a heavy blow on Tuesday, July 23rd, as a combination of global safe-haven selling and a relentlessly strengthening US dollar pushed bullion prices sharply lower. International spot silver fell by over 4% to trade below $63 per ounce, while MCX silver shed more than 3%, dropping below Rs 2.27 lakh per kilogram. These twin pressures on global benchmarks dragged physical silver prices down across Indian cities, with 999 purity silver now below Rs 2.50 lakh per kg in the majority of markets. Adding to the selling pressure, the US dollar climbed above the 101 level, its highest point since May 2025, while investors are maintaining a cautious stance on precious metals as they monitor the progress of the US-Iran peace agreement.\n\nHow Much Did Silver Fall Today?\nThe price of 1 kilogram of silver declined by Rs 5,000 to settle at Rs 2.45 lakh. Proportional drops were recorded across every denomination: 100 grams of silver fell Rs 500 to Rs 24,500, and 10 grams slipped Rs 50 to Rs 2,450. At the single-gram level, silver is now priced at Rs 245, down Rs 5, while 8 grams shed Rs 40 to stand at Rs 1,960.\n\nMCX Silver and Spot Silver: Key Benchmarks\nAt the time of this report, MCX silver had fallen by Rs 7,481, or 3.2%, to trade around Rs 2,26,829 per kg, hovering close to its intraday low of Rs 2.26 lakh per kg. On the global stage, spot silver deepened its losses, crashing by nearly 5% to trade around $62 per ounce.\n\nWhat Is Driving the Silver Selloff?\nPinky Yadav, Commodity Fundamental Analyst at Choice Broking, attributed the decline to rising expectations of further Federal Reserve interest rate hikes, which have been boosting the US dollar and reducing the attractiveness of non-yielding assets such as gold and silver, keeping bullion prices under sustained pressure.\n\nYadav further noted that the dollar was hovering near a 13-month high, drawing support from several concurrent forces: optimism surrounding initial US-Iran peace negotiations, political uncertainty in the United Kingdom, and persistent weakness in the Japanese yen, which remains near its lowest level since 1986. At the same time, easing concerns over supply disruptions in the Middle East have softened inflation fears to some extent, though elevated energy prices continue to reinforce expectations of a tighter monetary policy stance.\n\nSilver Prices City by City\nA regional price split is visible across Indian cities today. In Chennai, Hyderabad and Kerala, 1 kg of silver is holding at Rs 2.50 lakh per kg. By contrast, most major markets including Mumbai, Delhi, Kolkata, Bengaluru, Pune, Vadodara and Ahmedabad have silver priced at Rs 2.45 lakh per kg.\n\n• Chennai: 10g Rs 2,500 | 100g Rs 25,000 | 1kg Rs 2,50,000\n• Mumbai: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Delhi: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Kolkata: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Bengaluru: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Hyderabad: 10g Rs 2,500 | 100g Rs 25,000 | 1kg Rs 2,50,000\n• Kerala: 10g Rs 2,500 | 100g Rs 25,000 | 1kg Rs 2,50,000\n• Pune: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Vadodara: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n• Ahmedabad: 10g Rs 2,450 | 100g Rs 24,500 | 1kg Rs 2,45,000\n\nWhat Is the Outlook for Silver Prices?\nPonmudi R, CEO of Enrich Money, has outlined a detailed technical view for both MCX silver and COMEX spot silver going forward.\n\nOn MCX, silver opened with a sharp gap down and is consolidating near the Rs 2,28,000 level, reflecting weak price action amid ongoing volatility. Immediate resistance is placed at Rs 2,30,500 to Rs 2,31,600, and a sustained move above this zone could strengthen momentum and trigger a recovery toward Rs 2,34,000 to Rs 2,35,000. On the downside, a decisive break below Rs 2,28,000 could drag prices toward Rs 2,26,000 and further toward Rs 2,24,000. The near-term bias remains cautiously weak: prices must hold above Rs 2,28,000 for stability, and reclaiming the Rs 2,30,000 mark is the minimum required to support any meaningful recovery. A failure at support could intensify selling pressure significantly.\n\nFor COMEX spot silver, the picture is equally guarded. The metal is currently trading near $63 with a weak undertone, and immediate resistance sits at $65 to $65.5. A sustained move above this zone could extend the recovery toward $66.3 to $67. To the downside, a decisive break below $63 could pull prices toward the $61 to $60 support area. Spot silver needs to reclaim the $65 level to improve momentum and build a recovery structure; however, a break below immediate support could weaken sentiment further and trigger additional corrective pressure.\n\nWhat this means for you\n• Across India: Silver is now Rs 5,000 cheaper per kg at Rs 2.45 lakh in most cities, giving buyers and small investors a more affordable entry point for physical silver purchases.\n• In Chennai, Hyderabad and Kerala: Prices here remain at Rs 2.50 lakh per kg, meaning buyers in these regions are still paying Rs 5,000 more per kg compared to most other cities.\n• For investors: The near-term outlook on MCX remains cautious, with the Rs 2,28,000 support level being the critical line to watch before committing to any large position.\n\nQuestions & Answers\n\n1. What was the price of 1 kg silver in India on July 23rd?\nIn most cities, 1 kg silver was priced at Rs 2.45 lakh, while Chennai, Hyderabad and Kerala held at Rs 2.50 lakh per kg.\n\n2. Why did silver prices fall so sharply today?\nExpectations of further Federal Reserve interest rate hikes pushed the US dollar near a 13-month high, reducing investor demand for non-yielding assets like gold and silver.\n\n3. How much did MCX silver fall today?\nMCX silver declined by Rs 7,481, or 3.2%, to trade around Rs 2,26,829 per kg.\n\n4. What is the 10-gram silver price in major Indian cities today?\nIn most cities including Delhi, Mumbai and Kolkata, 10 grams of silver is priced at Rs 2,450, while in Chennai, Hyderabad and Kerala it is Rs 2,500.\n\n5. Where is spot silver trading globally today?\nSpot silver fell by nearly 5% to trade around $62 per ounce.\n\n6. What are the key MCX silver support and resistance levels to watch?\nAccording to Ponmudi R of Enrich Money, key support is at Rs 2,28,000, immediate resistance at Rs 2,30,500 to Rs 2,31,600, and the recovery target beyond that is Rs 2,34,000 to Rs 2,35,000.\n\n7. What level is the US dollar at and how has it impacted silver?\nThe US dollar is trading above 101, its highest since May 2025, and this strength has directly weighed on silver by making dollar-denominated assets more attractive to global investors.\n\n8. How did US-Iran peace talks affect silver prices today?\nOptimism surrounding the initial US-Iran peace negotiations gave additional support to the US dollar, prompting investors to scale back positions in precious metals including silver.",
  "url": "https://trendkia.com/en/market/chandi-men-5-000-ki-bari-giravata-999-shuddhata-ki-chandi-2-50-lakha-se-niche-dekhen-shaharavara-reta-2435",
  "category": "Market",
  "publishedAt": "2026-06-23",
  "tags": [
    "Silver rates today India",
    "MCX silver price",
    "Silver price drop",
    "City-wise silver rates",
    "Bullion market",
    "Dollar strength",
    "Silver outlook",
    "Silver price per kg"
  ],
  "language": "en",
  "site": "TrendKia"
}