Silver rates today: Silver prices in India as of December 30, saw a modest decrease in its price on Monday compared to last week’s. The cost of silver in India as of Monday stood at Rs 92,500 per kilogram, reflecting a decrease of Rs 100 in its rate.
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 remained stable at Rs 92,400 per kilogram.
Mumbai: Silver price in Mumbai decreased by Rs 100 at Rs 92,500 per kilogram.
Chennai: Silver price in Chennai remained stable at Rs 99,000 per kilogram.
Kolkata: Silver price in Kolkata remained stable at Rs 92,400 per kilogram.
Jaipur: Silver price in Jaipur stood at Rs 92,400 per kilogram.
Lucknow: Silver price in Lucknow stood at Rs 92,400 per kilogram.
Chandigarh: Silver price in Chandigarh stood at Rs 92,400 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.
