Silver rates in India remained unchanged on July 13, despite a sharp decline in the global bullion market. The 999-purity silver rate stood at Rs 2.35 lakh per kilogram.
The prices of 1Kg, 100 grams, 10 grams, and 8 grams of silver were unchanged, with the 1 Kg silver price standing at Rs 2.35 lakh, 100 grams at Rs 23,500, 10 grams at Rs 2,350, and 8 grams at Rs 1,880.
Silver rates in India were stable despite a 3-4% decline in MCX silver and spot silver prices, following new US-Iran tensions.
MCX silver ended the July 13 trading session at Rs 2,19,885 per kilogram, registering a decline of Rs 2,779 or 1.3%. Meanwhile, spot silver recovered some losses but continued to trade around $58 per ounce, with a nearly 2.5% decline.
The US Dollar Index held above 101, while the 10-year Treasury yield remained above 4.58%, reducing the appeal of non-yielding assets such as precious metals.
The US carried out its fourth strike in a week against Iran on Sunday, in retaliation for an Iranian attack on a Cyprus-flagged container ship. Tehran declared that the Strait of Hormuz would be closed until further notice, though the claim was dismissed by the US Central Command.
Investors are awaiting key US inflation data due this week for further clues on the Federal Reserve’s policy outlook. Markets currently expect the Fed to deliver one more interest-rate hike before the end of the year.
Silver prices remained under pressure, with MCX silver declining around 2% and COMEX silver falling nearly 3%, weighed down by a firm US dollar and higher Treasury yields.
Pinky Yadav, Commodity Fundamental Analyst at Choice Broking, pointed out that persistent US-Iran geopolitical tensions continued to offer some safe-haven support. Markets are closely watching speeches from Federal Reserve officials Michelle Bowman and Christopher Waller for policy signals.
Investment demand remained robust, with silver ETFs recording a record Rs 4,286 crore inflow in June. Registered COMEX inventory at 93.50 MOz has recovered to the highest since October 2025 but remains 53.4 per cent down from the record September 2025 peak of 201 MOz.
Choice Broking’s Pinky Yadav noted that investors should check the exchange rates to understand the impact of global market trends on silver prices.
