Silver Prices Remain Stable in India Despite Global Weakness
Silver prices have remained stable in India at ₹2,35,000 per kg for the first four days of October. The price has been steady since it fell to ₹2,40,000 per kg on September 30 from its high of ₹2,55,000 per kg that month.
The decline in silver prices is mainly due to weaker global prices and a stronger US dollar. Profit-taking has also contributed to the decrease in price. The Federal Reserve's interest-rate outlook remains an important driver for gold, with recent US economic data producing mixed signals.
The weak jobs data reduced expectations of an October rate hike, but the gold market remains sensitive to broader inflation and interest-rate outlooks. Stronger inflation concerns and elevated oil prices have increased expectations of tighter US monetary policy, contributing to a sharp gold sell-off.