India's Silver Prices Slip by ₹100 Per Kilogram

Silver prices in India experienced a slight decline on Tuesday, August 18. The retail rate dropped by ₹100 per kilogram to ₹2,49,900 per kg across several major cities.

The difference between the current retail price and MCX silver futures is notable. On Monday morning, September silver futures on MCX traded at around ₹2,36,272 per kilogram, up 0.15% from Friday's levels.

However, the retail silver rate remains ₹13,600 above the MCX futures price of ₹2,36,272, representing a gap of roughly 5.8%. This discrepancy is largely due to GST, dealer margins, local charges, and fabrication costs.