Silver Prices Hold Steady in India Amid Market Balance

Silver prices in India remained steady on Thursday, trading at ₹2,350 per 10 grams across major cities. This price stability marks a continuation of two consecutive sessions without any significant changes.

The metal's value has been well off from Monday's spike to ₹2,400 per 10 grams, triggered by fresh Iran-US tensions that led to safe-haven buying. However, this premium has since unwound, and prices have returned to their earlier range.

Bullion dealers attribute the market balance to a temporary equilibrium between silver's safe-haven appeal and its industrial demand from sectors like electronics and solar photovoltaic. The US Federal Reserve's decision to hold interest rates steady has added caution to precious metals trading this week, even as equity markets remain firm.

Traders predict that silver may remain range-bound in the near term unless a fresh trigger, such as a flare-up in West Asia or a shift in global risk appetite, forces a more decisive move. The city-wise comparison shows that rates have remained unchanged across major cities, with Kolkata being the only exception to edge up by Re 1.