Silver price on January 2: On Thursday (January 2), the price of silver fell to Rs 90,400 per kilogram.
Here are the details of top 5 cities of India for 'silver rates'
Silver rate in Mumbai
Silver rate in Mumbai was Rs 90,400 per Kg on January 2, while it was priced at Rs 90,500 per Kg on the previous day.
Silver rate in Delhi
The silver rate in Delhi was Rs 90,400 per Kg on January 2. The price of silver for 10 grams Rs 904 per gram on January 1.
Silver rate in Kolkata
Today, the silver rate in Kolkata is Rs 90,400 per Kg and for 10 gram, it was priced Rs 904.
Silver rate in Chennai
The silver rate in Chennai is Rs 97,900 per Kg and for 10 gram it is priced at Rs 979.
What are the 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.
- Currency Fluctuations: Changes in the value of currencies, particularly the US dollar, relative to other currencies can affect the attractiveness of gold and silver as investments.
- 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.
