Silver rate today: Silver prices declined on Tuesday, April 21, as the dollar firmed and investors turned cautious ahead of potential peace talks between the U.S. and Iran following renewed tensions over the weekend.
MCX silver price fell around 1% to ₹2,50,210 per kg, while MCX gold rate was flat at ₹1,53,785 per 10 grams.
Spot prices fell 0.6% to $79.40 per ounce, tracking weakness across the precious metals complex. also remained under pressure, easing 0.2% to $4,807.91 per ounce as of 0217 GMT, extending losses from the previous session when prices hit their lowest level since April 13. U.S. gold futures for June delivery were steady at $4,827.30.
Among other metals, Platinum declined 0.7% to $2,074, while palladium rose 0.3% to $1,556.16.
What’s driving the prices?
The decline comes mainly on the back of a strengthening , making greenback-denominated commodities more expensive for holders of other currencies, weighing on metals including silver.
Investor focus has now shifted to geopolitical developments, particularly whether the U.S. and Iran would proceed with talks in Islamabad and whether a ceasefire could be extended or lead to a broader peace agreement. Uncertainty remains high as the two-week ceasefire approaches expiry this week, with Iran considering participation in talks following diplomatic efforts to ease tensions and remove obstacles to negotiations.
In today’s deals, slipped as investors reassessed supply risks amid expectations that potential peace talks could ease disruptions and allow more supply to flow from the region.
The war, now in its eighth week, has triggered a significant energy-supply shock, keeping inflation concerns elevated and influencing central bank policy expectations, which in turn dampened the sentiment for precious metals. While precious metals are often seen as a hedge against inflation, elevated interest rates reduce their appeal by making yield-bearing assets more attractive.
Technical Outlook: Will prices slip or rebound?
According to Renisha Chainani, Head – Research at Augmont, Silver has met its prior target of $82 ( ₹2,58,000).
“Prices are expected to consolidate in the near term before advancing toward $84 ( ₹2,65,000) and subsequently $90 ( ₹2,80,000),” predicted the expert.
Moreover, for gold, she said, Gold continues to face resistance at $4,850 ( ₹1,55,000). A sustained move above this level could push prices toward $5,000 ( ₹1,60,000). Key support remains at $4,600 ( ₹1,51,000), added Chainani.
Meanwhile, Mirae Asset Mutual Fund noted that silver prices are currently holding above the ₹2,48,000–2,45,000 support zone, which aligns with the 20-week moving average and remains critical for maintaining trend stability.
The fund house added that a deeper weekly support is likely to lie near ₹2,40,000–2,35,000, marking the prior consolidation base.
On the upside, Mirae Asset Mutual Fund noted that ₹2,60,000–2,65,000 remains a key resistance band, and only a sustained weekly close above this zone would confirm trend continuation, while failure could keep silver range-bound.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.