Silver Breaks Out of Sideways Pattern, Rises ₹5 Per Gram

Silver prices in Mumbai rose by ₹5 per gram on August 5, ending a prolonged period of flat trading. This marks the metal's first notable gain after several sessions of unchanged rates.

The increase reflects improving sentiment in the broader bullion market and stronger international cues. Global silver and gold prices have been rising, which has contributed to the upswing in domestic silver prices.

Silver is also influenced by industrial demand, particularly from electronics, electric vehicles, and solar energy. As a result, its prices can be more volatile during periods of changing market sentiment.

The retail rate of silver now stands at ₹240 per gram, while 1 kilogram costs ₹2,40,000. This represents a ₹5,000 increase for bulk buyers and investors.