Silver prices witnessed a significant dip in India today, with the metal trading at Rs 90,500 per kilogram, down from Rs 92,500 yesterday. This marks a price drop of Rs 2,000 per kilogram. Similarly, the price for 10 grams of silver decreased from Rs 925 to Rs 905, and 100 grams of silver is now priced at Rs 9,050, down by Rs 200 from Rs 9,250.
Silver prices in top north Indian cities
- Delhi: Rs 95,400 per kilogram
- Jaipur: Rs 95,800 per kilogram
- Lucknow: Rs 96,300 per kilogram
- Chandigarh: Rs 94,800 per kilogram
- Patna: Rs 95,500 per kilogram
Silver prices in top south Indian cities
- Chennai: Rs 1,02,500 per kilogram
- Bangalore: Rs 94,400 per kilogram
- Hyderabad: Rs 1,03,100 per kilogram
- Visakhapatnam: Rs 1,01,500 per kilogram
- Vijayawada: Rs 1,03,900 per kilogram
Key factors influencing precious metal prices
- Global demand: The demand for silver and gold on a global scale heavily impacts price fluctuations.
- Currency fluctuations: Variations in currency values, especially the US dollar, influence metal prices.
- Interest rates: Rising interest rates can reduce the appeal of precious metals, which yield no interest.
- Government regulations: Policies regarding the trade and taxation of gold and silver can impact prices.
- World events: Geopolitical events, economic conditions, and market trends play a crucial role.
Expert insights
Jewelers and financial analysts emphasised monitoring these trends for better investment decisions. Silver remains a favored investment option for many due to its diverse applications and lower entry point compared to gold.
Note: Silver prices are subject to daily market changes and may vary across cities due to local taxes and transportation costs.
Also read | Gold price today December 31: Check latest rates in Delhi, Chennai, Mumbai, Kolkata and other major cities
