Silver Prices Slip on June 4: Check Latest Rates in Delhi, UP, Bihar and Other Major Cities

Silver prices witnessed a decline across major Indian bullion markets on Thursday, June 4, providing some relief to buyers after recent volatility in precious metals. The softening trend was visible in key cities including Delhi, Mumbai, Kolkata, Chennai, Lucknow, Patna, and several other markets.

The fall in silver prices comes amid mixed global cues, geopolitical uncertainties, and changing investor sentiment toward precious metals. While gold managed to attract some safe-haven demand, silver remained under pressure due to weakness in international markets and profit-booking by traders.

For consumers planning to purchase silver jewellery, coins, or investment-grade bullion, the latest correction may present an opportunity to enter the market at relatively lower prices.

Silver Prices Decline in Domestic Markets

According to market data, silver prices eased in most domestic bullion centres on June 4.

In several major cities, including Delhi, Uttar Pradesh, Bihar, Mumbai, Ahmedabad, and Kolkata, silver was trading around ₹2,62,820 per kilogram. Meanwhile, prices remained slightly higher in southern markets such as Chennai and Hyderabad.

The decline reflects broader movements in international precious metal markets, where silver prices also witnessed weakness during recent trading sessions.

Global Market Trends Impact Precious Metals

International bullion markets continued to react to developments in the Middle East and uncertainty surrounding global economic conditions.

While investors sought safety in gold amid geopolitical concerns, silver prices struggled to maintain momentum.

Global spot gold prices rose approximately 0.49% to around $4,489 per ounce, benefiting from safe-haven buying. In contrast, spot silver fell roughly 0.45%, trading near $73.36 per ounce.

The divergence highlights how gold and silver can sometimes react differently to the same market events, depending on industrial demand expectations and investor sentiment.

MCX Silver Futures See Sharp Correction

Domestic commodity markets also reflected weakness in silver prices.

On the Multi Commodity Exchange (MCX), July silver futures settled lower, falling approximately 1.43% to around ₹2,62,900 per kilogram.

Gold futures showed comparatively better resilience, with August gold contracts closing near ₹1,58,445 per 10 grams after a marginal decline.

Market participants continue to monitor global developments, which remain the primary drivers of price movements in precious metals.

Why Are Silver Prices Under Pressure?

Commodity analysts attribute the recent weakness in silver to several factors.

Rising Geopolitical Uncertainty

Ongoing developments involving Iran and broader Middle East tensions have increased uncertainty in financial markets. While such situations often support gold prices, silver has not benefited to the same extent.

Higher Interest Rate Expectations

Rising crude oil prices have renewed concerns about inflation globally. As inflation risks increase, central banks—particularly the U.S. Federal Reserve—may keep interest rates elevated for longer.

Higher interest rates generally strengthen fixed-income investments and reduce the appeal of non-yielding assets such as precious metals.

Focus on U.S. Economic Data

Investors are closely watching upcoming U.S. employment reports, including:

• Non-Farm Payroll (NFP) data

• Unemployment rate figures

• Wage growth statistics

These indicators can influence the U.S. dollar, bond yields, and overall demand for precious metals.

Latest Silver Prices in Major Indian Cities

Northern and Western India

Silver prices remained largely uniform across many major cities.

Southern India

Silver continued to trade at slightly higher levels in some southern markets.

The price difference is primarily due to local taxes, transportation costs, and regional demand patterns.

What Should Silver Buyers Do?

With prices correcting from recent highs, buyers planning purchases for investment or jewellery purposes may find current levels attractive.

However, experts advise that silver remains highly volatile and is influenced by multiple factors, including:

• Global economic conditions

• Geopolitical developments

• U.S. Federal Reserve policy decisions

• Currency fluctuations

• Industrial demand trends

Investors should therefore evaluate their financial goals and risk tolerance before making large purchases.

Outlook for Silver Prices

Analysts expect silver prices to remain sensitive to international developments over the coming weeks. Market direction may depend largely on upcoming U.S. economic data, global interest rate expectations, and geopolitical events.

Any major shift in these factors could trigger further volatility in both gold and silver markets.

Disclaimer

Precious metal prices change frequently based on market conditions. Buyers and investors should verify rates with local bullion dealers or jewellers before making any purchase decision.