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Silver flat on profit booking, but bullish sentiment remains strongIn India, silver traded at ₹119 per gram and ₹1,19,000 per kilogram. On the Multi Commodity Exchange (MCX), silver touched a record high of ₹1,15,136 per kg in the previous session.By Anshul   July 15, 2025, 11:29:58 AM IST (Updated)2 Min ReadSilver prices held steady on Tuesday (July 15) after hitting all-time high, as investors locked in gains ahead of key US inflation data.

In India, silver traded at ₹119 per gram and ₹1,19,000 per kilogram. On the Multi Commodity Exchange (MCX), silver touched a record high of ₹1,15,136 per kg in the previous session.

Globally, spot silver edged up 0.3% to $38.24 per ounce after hitting its highest level since September 2011 on Monday (July 14).

Weakness in the rupee also kept domestic prices elevated. If the rupee slides further against the dollar while global prices stay stable, silver will get more expensive for Indian buyers.

Experts say the US President’s announcement of new trade tariffs on Canada and Mexico added to supply concerns, lending support to both gold and silver. The market now awaits US inflation data, which could shape the Federal Reserve’s rate path and impact precious metals.

“Silver is benefitting from supply concerns and growing industrial demand,” said Tim Waterer, Chief Market Analyst at KCM Trade. “Gold’s rise over the past 18 months has had investors looking elsewhere for value and silver has been one of the metals to rise as a result.”

Harshal Dasani, Business Head at INVasset PMS, said silver has stepped out of gold’s shadow this year.

“What’s unique this time is that the rally isn’t driven by retail investors or jewellery demand—it’s a structural shift,” he said.

Analysts point to robust demand from green technologies and electric vehicles. The metal is in its fifth year of supply deficit, adding to bullish sentiment. Traders expect silver futures to trade in the ₹1.22–1.23 lakh/kg range in the coming months.

Rahul Kalantri, VP Commodities at Mehta Equities, said silver has support at $37.90–37.60 per ounce and faces resistance at $38.50–38.70 per ounce globally. In India, support is seen at ₹1,12,080–1,11,350 per 10 kg, with resistance at ₹1,13,850–1,14,700 per kg.

-With Reuters inputsContinue ReadingFirst Published: Jul 15, 2025 11:19 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagssilversilver investmentsilver prices