Silver rates today: Silver prices in India as of December 27, saw a modest increase in its price compared to the rate on Thursday. The cost of silver in India as of Friday stood at Rs 92,500 per kilogram, reflecting an increase of Rs 900 in its rate, as on Thursday it was at Rs 91,600.
Silver is a safe option for investment when starting out but one should look for certification of the jewellery or other items. Fine silver is 99.9% pure silver and is soft in comparison to sterling silver.
Silver prices in major cities:
Delhi: Silver price in Delhi stood at Rs 92,500 per kilogram.
Mumbai: Silver price in Mumbai stood at Rs 92,500 per kilogram.
Chennai: Silver price in Chennai stood at Rs 1,00,000 lakh per kilogram.
Kolkata: Silver price in Kolkata stood at Rs 92,500 per kilogram.
Jaipur: Silver price in Jaipur stood at Rs 92,500 per kilogram.
Lucknow: Silver price in Lucknow stood at Rs 92,500 per kilogram.
Chandigarh: Silver price in Chandigarh stood at Rs 92,500 per kilogram.
Factors impacting silver prices in India:
Some of the key factors that affect silver prices in India include international silver rates, currency exchange rate (value of the Indian Rupee against the US Dollar), demand and supply dynamics, interest rates, Government policies and import duties, global economic conditions, jewellery and industrial demand. Since silver is priced in US dollars, changes in the value of the dollar can influence silver prices. When the dollar weakens, silver becomes cheaper for foreign buyers, leading to an increase in demand and rising prices. On the other hand, a strong dollar typically causes silver prices to dip.
The price of silver is tracked globally through various exchanges, including the COMEX (Commodity Exchange) in the US, and the fluctuations in its price can be observed every day.
