Silver Price: Domestic silver futures moved in a range of Rs 1,030 on Thursday, a day after tumbling as much as 9 per cent on Wednesday tracking a fall in global precious metals. Multi Commodity Exchange (MCX) silver futures - due for September 4 delivery - quoted at Rs 66,250 and Rs 67,280 at the lowest and highest levels recorded during the session, as against their previous close of Rs 66,753. At 10:16 am, the MCX silver futures contract quoted at Rs 66,473, down 0.42 per cent (Rs 280) from its previous close. (Track Current Silver Price Here)
On Wednesday, trading in MCX silver futures had halted for 15 minutes when the price fell 6 per cent. Circuit breaks are aimed at protecting investors from sudden sharp losses in the markets.
In the international market, silver prices silver rose 1.5% to $25.94 per ounce 2.8 per cent to $24.11 per ounce, having plunged 15 per cent the previous day.
The dollar index - which measures the dollar against six currencies - declined as much as 0.25 per cent earlier on Thursday.
The opening rate of silver jewellery stood at Rs 66,256 per kilogram on Thursday, excluding Goods and Services Tax, according to Mumbai-based industry body India Bullion and Jewellers Association. Precious metal prices in the country vary from state to state due to VAT or value added tax.
Jewellery prices are calculated by taking into account factors such as excise duty and making charges.