Silver Price: Domestic silver futures fluctuated between gains and losses on Tuesday, but managed to hold the Rs 65,400 mark, tracking gains in global previous metal prices. Multi Commodity Exchange (MCX) silver futures - due for a September 4 delivery - were rangebound within Rs 65,425 and Rs 65,990, not far from their previous close of Rs 65,748. At 4:00 pm, the MCX silver futures contract quoted at Rs 65,633, down Rs 115 or 0.17 per cent from its previous close. (Track Current Silver Price Here)
The average price of the September 4 contract stood at Rs 65,779 on Tuesday, less than 3 per cent from its all-time high of Rs 67,560.
The opening price of silver jewellery stood at Rs 64,925 per kilogram on Tuesday, excluding Goods and Services Tax, according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
Meanwhile, gold futures eased after touching an all-time high of Rs 54,223 mark, as global rates hovered near their highest levels ever amid rising COVID-19 cases around the world. (Also Read: Gold Futures Ease After Climbing To Record Rs 54,223)
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.
International silver prices gained 0.40 per cent to $24.34 per ounce on Tuesday.
The dollar - often seen by investors as a rival safe-haven - traded in a narrow range to swingbetween gains and losses, and was last seen trading 0.04 per cent higher.