Today’s (February 20) Silver price in India
Silver prices rise, know the silver rate of February 20: Silver prices rose today, Friday, February 20. Silver is trading at ₹270,000 per kilogram in the bullion market. On February 20th, the international price of silver rose 1.13 percent to $78.51 per ounce. This increase was driven by global developments and signals from the US Federal Reserve regarding interest rates. Meanwhile, silver futures on MCX closed almost flat at ₹241,400 per kilogram.
The market is now focused on the minutes of the Federal Reserve’s January meeting. This will provide indications of the future interest rate trend. Interest rate decisions directly impact gold and silver prices.
According to a report by Augment Bullion, geopolitical tensions have stabilized somewhat in recent days. This has reduced demand for precious metals as a safe-haven investment. Some investors have also booked profits after the recent rally.
According to the report, silver may remain in the range of $70 to $90 (Rs. 225,000 to 285,000). If the price drops below $70, it could fall to $64 (approximately Rs. 200,000). Experts advise buying on dips and taking profits on rises.
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