Silver Prices Soar Over 6% Weekly; Check Today's Rates in Your City

• Spot silver price increased by 0.15% daily and 6.13% weekly, reaching $77.17 per ounce on January 8.
• Domestic futures on MCX closed at Rs 2,42,631 per kg, with a previous peak of Rs 2,59,692 on January 7, 2025.
• Profit booking ahead of the US NFP report, mixed US economic data, and geopolitical risks influenced prices.
• City-wise silver rates in India show marginal differences due to local taxes, jeweller margins, and logistics costs.
• Declining US job vacancies, anticipated rate cuts, and escalating geopolitical tensions (Venezuela, Greenland) are factors affecting prices.

Why It Matters: Silver prices surged over 6% weekly, influenced by economic data, profit booking, and geopolitics.