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Home Silver Rate In India Today

Silver Rate In India Today

Silver Price in Bangalore Silver Price in Mumbai Silver Price in Delhi
 
Silver Price in Hyderabad    Silver Price in Chennai     Silver Price in Kolkata
 
Today's Silver price in Indian Cities
City Silver (1 gram) Silver (1 Kg)
Agra ₹37.73 ₹37,730
Ahmedabad ₹37.73 ₹37,730
Aligarh ₹37.73 ₹37,730
Allahabad ₹37.73 ₹37,730
Ambala ₹37.73 ₹37,730
Amravati ₹37.73 ₹37,730
Aurangabad ₹37.73 ₹37,730
Bangalore ₹37.73 ₹37,730
Bareilly ₹37.73 ₹37,730
Belgaum ₹37.73 ₹37,730
Bellary ₹37.73 ₹37,730
Bhilai ₹37.73 ₹37,730
Bhopal ₹37.73 ₹37,730
Bhubaneshwar ₹37.73 ₹37,730
Chandigarh ₹37.73 ₹37,730
Chennai ₹37.73 ₹37,730
Coimbatore ₹37.73 ₹37,730
Cuttack ₹37.73 ₹37,730
Dehradun ₹37.73 ₹37,730
Delhi ₹37.73 ₹37,730
Dindigul ₹37.73 ₹37,730
Erode ₹37.73 ₹37,730
Faridabad ₹37.73 ₹37,730
Ghaziabad ₹37.73 ₹37,730
Gulbarga ₹37.73 ₹37,730
Guntur ₹37.73 ₹37,730
Gurgaon ₹37.73 ₹37,730
Guwahati ₹37.73 ₹37,730
Haldwani ₹37.73 ₹37,730
Hisar ₹37.73 ₹37,730
Hosur ₹37.73 ₹37,730
Hyderabad ₹37.73 ₹37,730
Indore ₹37.73 ₹37,730
Jabalpur ₹37.73 ₹37,730
Jaipur ₹37.73 ₹37,730
Jalgaon ₹37.73 ₹37,730
Jammu ₹37.73 ₹37,730
Jamnagar ₹37.73 ₹37,730
Jamshedpur ₹37.73 ₹37,730
Jodhpur ₹37.73 ₹37,730
Kakinada ₹37.73 ₹37,730
Kannur ₹37.73 ₹37,730
Kanpur ₹37.73 ₹37,730
Karnal ₹37.73 ₹37,730
Karur ₹37.73 ₹37,730
Kochi ₹37.73 ₹37,730
Kolhapur ₹37.73 ₹37,730
Kolkata ₹37.73 ₹37,730
Kota ₹37.73 ₹37,730
Kozhikode ₹37.73 ₹37,730
Kurnool ₹37.73 ₹37,730
Lucknow ₹37.73 ₹37,730
Ludhiana ₹37.73 ₹37,730
Madurai ₹37.73 ₹37,730
Malappuram ₹37.73 ₹37,730
Mangalore ₹37.73 ₹37,730
Meerut ₹37.73 ₹37,730
Mumbai ₹37.73 ₹37,730
Mysore ₹37.73 ₹37,730
Nagercoil ₹37.73 ₹37,730
Nagpur ₹37.73 ₹37,730
Nanded ₹37.73 ₹37,730
Nasik ₹37.73 ₹37,730
Nellore ₹37.73 ₹37,730
Noida ₹37.73 ₹37,730
Panaji ₹37.73 ₹37,730
Patna ₹37.73 ₹37,730
Pondicherry ₹37.73 ₹37,730
Proddatur ₹37.73 ₹37,730
Pune ₹37.73 ₹37,730
Raipur ₹37.73 ₹37,730
Rajahmundry ₹37.73 ₹37,730
Rajkot ₹37.73 ₹37,730
Ranchi ₹37.73 ₹37,730
Ratlam ₹37.73 ₹37,730
Salem ₹37.73 ₹37,730
Sangli ₹37.73 ₹37,730
Shimla ₹37.73 ₹37,730
Shimoga ₹37.73 ₹37,730
Siliguri ₹37.73 ₹37,730
Solapur ₹37.73 ₹37,730
Srinagar ₹37.73 ₹37,730
Surat ₹37.73 ₹37,730
Thane ₹37.73 ₹37,730
Thanjavur ₹37.73 ₹37,730
Thiruvananthapuram ₹37.73 ₹37,730
Thrissur ₹37.73 ₹37,730
Tiruchirapalli ₹37.73 ₹37,730
Tirunelveli ₹37.73 ₹37,730
Tuticorin ₹37.73 ₹37,730
Udaipur ₹37.73 ₹37,730
Udupi ₹37.73 ₹37,730
Vadodara ₹37.73 ₹37,730
Varanasi ₹37.73 ₹37,730
Vellore ₹37.73 ₹37,730
Vijayawada ₹37.73 ₹37,730
Visakhapatnam ₹37.73 ₹37,730
Warangal ₹37.73 ₹37,730
Kerala ₹37.73 ₹37,730
 

*Disclaimer: Indianmoney.com makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

 

History of Silver

The evolution of the name ‘silver’ for the very sought after white shining metal is quite interesting. The term ‘silver’ is derived from ‘seolfor,’ the Anglo-Saxon for the shiny white metal, silver. Seolfor, in turn, comes from ancient Germanic ‘silabar.’

Silver’s chemical symbol is Ag. It is an abbreviation of ‘Argentum’, the Latin word for silver which originates from argunas, a Sanskrit word meaning shining.

Though the discoverer and the discovery date of silver is unknown, the fact is that its existence goes back to prehistoric times is very evident. It was one of the first five elements to be used by man. Silver artifacts date back to 3000 BC which were found in the Sumerian city of Kish.

Silver as an Investment

Silver is the second most sought-after metal for investment. Be it industrial process, jewelry or long-term investment, silver has always been the next best alternative to invest. Not only that, silver has also gained popularity in the commodities exchange market. This is also a major factor that is rendering to the volatility of silver rate. That silver offers good returns and is liquid in nature makes it an attractive avenue of investment.

Silver Standards

Silver is available in various purities and grades but 99.9% silver is the purest form and is termed as “fine silver”. Next comes sterling silver with a purity of 92.5%.

Determinants of Silver Prices in India

Like most commodities in the market, silver rate is also affected by multiple factors. It has been observed time and again that gold and silver prices are closely linked. That is to say, when gold prices rise, silver prices also rise. Vice versa is also true. Also, silver rate in the market today is a direct reflection of its usage as an investment and not mostly asjewellery. Following are some of the key factors that affect the silver rates in India:
Hash Trade Deficits:Like gold, silver production in India is low. Therefore, silver prices are by far affected by the global rates. Also, the government introduces additional taxes when faced with a high trade deficit. Excise duty is one such additional tax charged on silver imports. All this leads to an increase in the silver rates.
Hash Gold Price:As mentioned, prices of gold and silver have a close correlation. An increase in gold prices shoots silver prices too. This tendency is because investors prefer to invest in silver when gold prices are too high. Now, this leads to an increased demand for silver which in turn leads to the price rise.
Hash Price of Oil:Mining is dependent on the price of oil. A rise in oil prices, in turn, triggers a rise in silver rates. Hence, when oil prices rise, cost of mining silver also rise leading to increasing silver rates.
Hash Demand in the Industry:Silver is an important metal which is an input for various industrial processes. Therefore an increase in industrial demand for silver causes a rise in silver price.
Hash Currency Values:The performance of currency also plays an important role in pricing of silver. Silver price in India is inversely correlated to the value of USD. That is to say, a decrease in the value of USD causes a rise in the prices of silver and vice versa.
Hash Import Duty:As mentioned earlier, most of the silver in Indian market is obtained as imports. Hence, increase in import duty by the government leads to a rise in the silver price. Thus, changes in the import duty will affect silver prices.
Hash Increase or Decrease in Inflation:Inflation and deflation also affect the silver prices. An increase in inflation encourages investors to minimize their risks by investing in metals like silver which leads to increase in silver prices.

Various Forms of Investment in Silver

You may invest in silver in the following forms:
Hash Physical silver: Physical silver may be anything like bullions (bars and ingots), jewelry and ornaments, silverware, utensils and coins.
Hash Silver contracts:Silver Contracts can be purchased from the National Commodities Exchanges like NCDEX and MCX. The latter is recognized as a global silver trading market and is popular globally.

Silver as a Commodity in India

Silver can be traded in the Commodity Exchange Market. There are three dedicated commodities exchange wherein silver can be traded:
Hash National Multi Commodity Exchange (NMCE)
Hash National Commodity & Derivatives Exchange (NCDEX)
Hash Multi Commodity Exchange (MCX)

 
 
 

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