Silver price on January 3: On January 3 (Friday), silver prices increase to Rs 92,500 per kilogram and Rs 92.50 per gramme. Ten grammes of silver will cost Rs 925 today compared to Rs 905 yesterday (January 2); the price of 100 grammes of silver in India climbed by Rs 200 from Rs 9,050 on Thursday to Rs 9,250 on Friday; and the price of one kilogramme of silver bumped by Rs 2,000 from Rs 90,500 yesterday to Rs 92,500 today.
Here are the details of 'silver rates' in India's top 5 cities
Silver rate in Mumbai
Silver rate in Mumbai was Rs 90,400/Kg on January 2, while it was priced at Rs 90,500/Kg on the previous day.
Silver rate in Delhi
The silver rate in Delhi was Rs 90,400/Kg on January 2. The price of silver for 10 gram Rs 904/gram on January 1.
Silver rate in Kolkata
Today, the silver rate in Kolkata is Rs 90,400/Kg and for 10 gram, it was priced 904.
Silver rate in Chennai
The silver rate in Chennai today, January 2, is Rs 97,900/Kg and for 10 gram it is priced at Rs 979.
Factors which affect 'Silver prices'
- The price of silver constantly fluctuates due to various factors, i.e, both domestic as well as international.
- Global Demand: The overall demand for gold and silver worldwide plays a significant role in price changes.
- Interest Rates: Higher interest rates can make gold and silver less attractive as investments as they offer no interest income.
- Government rules/regulations: Government policies and regulations related to the gold and silver trade can impact prices.
- World Events: Economic conditions, geopolitical events, and other global factors can influence the demand for and price of precious metals.
- Insights from Jewellers: Jewellers, as experts in the precious metals industry, can provide valuable insights into market trends and potential price movements.
