Silver Prices Stabilize at ₹2,350 Amid Easing Iran Tension
Silver prices in India remained steady on Wednesday at ₹2,350 per 10 grams, unchanged from Tuesday's level. The metal had slumped ₹50 the previous day due to escalating Iran-US tensions, but a truce between Washington and Tehran extended into a second day on Tuesday, prompting profit-booking by investors.
The national average rate has now stabilized at the lower band seen since Tuesday, with little fresh movement even as the broader Iran-US narrative continues to evolve through the week. Silver appears to have found a temporary floor after the sharp swings of the past week, but traders caution that any renewed escalation in West Asia could quickly reignite safe-haven buying.
The near-total absence of city-wise divergence reinforces dealers' earlier observation that domestic silver rates move in close alignment with international bullion prices and rarely stay misaligned across centres for long. This contrasts with the pattern seen through last week, when cities such as Chennai, Hyderabad, and Kerala had briefly traded at a discount to the rest of the country before falling in line.