Home  »  Silver Rates

Silver Price in India (23rd January 2017)

Silver price in India is determined by international prices, which move in either direction. Other then that it also depends on currency movement of the rupee against the dollar. If the rupee falls against the dollar and international prices remain stable, silver will become more expensive.

Today Silver Price Per Gram/Kg in India (INR)

Gram Silver Rate
Today
Silver Rate
Yesterday
Daily Price Change
1 gram ₹ 44.61 ₹ 44.61 ₹ 0
8 gram ₹ 356.88 ₹ 356.88 ₹ 0
10 gram ₹ 446.10 ₹ 446.10 ₹ 0
100 gram ₹ 4,461 ₹ 4,461 ₹ 0
1 Kg ₹ 44,610 ₹ 44,610 ₹ 0

Indian Major Cities Silver Rates Today

City 10 gram 100 gram 1 Kg
Chennai ₹ 446.58 ₹ 4,465.80 ₹ 44658.00
Mumbai ₹ 446.10 ₹ 4,461 ₹ 44610.00
Delhi ₹ 446.24 ₹ 4,462.40 ₹ 44624.00
Kolkata ₹ 446.70 ₹ 4,467 ₹ 44670.00
Bangalore ₹ 446.60 ₹ 4,466 ₹ 44660.00
Hyderabad ₹ 446.86 ₹ 4,468.60 ₹ 44686.00
Kerala ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Pune ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Vadodara ₹ 446.05 ₹ 4,460.50 ₹ 44605.00
Ahmedabad ₹ 446.28 ₹ 4,462.80 ₹ 44628.00
Jaipur ₹ 446.28 ₹ 4,462.80 ₹ 44628.00
Lucknow ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Coimbatore ₹ 446.58 ₹ 4,465.80 ₹ 44658.00
Madurai ₹ 446.23 ₹ 4,462.30 ₹ 44623.00
Vijayawada ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Patna ₹ 446.72 ₹ 4,467.20 ₹ 44672.00
Nagpur ₹ 446.10 ₹ 4,461 ₹ 44610.00
Chandigarh ₹ 449.28 ₹ 4,492.80 ₹ 44928.00
Surat ₹ 446.10 ₹ 4,461 ₹ 44610.00
Bhubaneswar ₹ 446.72 ₹ 4,467.20 ₹ 44672.00
Mangalore ₹ 449.28 ₹ 4,492.80 ₹ 44928.00
Visakhapatnam ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Nashik ₹ 446.10 ₹ 4,461 ₹ 44610.00
Mysore ₹ 446.58 ₹ 4,465.80 ₹ 44658.00

Silver Rate in India for Last 10 Days

Date 10 gram 100 gram 1 Kg
Jan 22, 2017 ₹ 446.10 ₹ 4,461.00 ₹ 44610.00
Jan 21, 2017 ₹ 446.10 ₹ 4,461.00 ₹ 44610.00
Jan 20, 2017 ₹ 446.29 ₹ 4,462.90 ₹ 44629.00
Jan 19, 2017 ₹ 445.05 ₹ 4,450.50 ₹ 44505.00
Jan 18, 2017 ₹ 445.03 ₹ 4,450.30 ₹ 44503.00
Jan 17, 2017 ₹ 442.10 ₹ 4,421.00 ₹ 44210.00
Jan 16, 2017 ₹ 442.10 ₹ 4,421.00 ₹ 44210.00
Jan 14, 2017 ₹ 441.30 ₹ 4,413.00 ₹ 44130.00
Jan 13, 2017 ₹ 443.08 ₹ 4,430.80 ₹ 44308.00
Jan 12, 2017 ₹ 442.15 ₹ 4,421.50 ₹ 44215.00

Weekly & Monthly Graph of Silver Price in India

Historical Price of Silver Rate

  • Silver Price Movement in January 2017
  • Silver Rates 1 Kg
    1 st January rate Rs.41,858
    31st January rate Rs.43,410
    Highest rate in January Rs.44,928 on January 22
    Lowest rate in January Rs.0 on January 8
    Over all performance Rising
    % Change +3.71%
  • Silver Price Movement in December 2016
  • Silver Price Movement in November 2016
  • Silver Price Movement in October 2016
  • Silver Price Movement in September 2016
  • Silver Price Movement in August 2016

Demand for Silver in India

Silver prices in the international markets depends on a whole lot of factors, including inflation prospects, movement of the dollar and liquidity conditions in the globe. Also, if investors are risk averse they tend to move money from equities and other risky assets to gold and silver.

Factors Influencing Silver Rates in India:

Like Gold, Silver is also one of the most precious metals, valued both as a form of currency and store of value. There are various factors that can influence the silver rates in india. When predicting the future price of silver in india, historical data should not be taken into an account, though there is a steady increase in silver rates in past two decades. At the same time, for past few years investment in india as a commodity has obtained a steady growth in india. So, in order to see decent profits from silver in short/long run, investors need to factor in various variables which are described below:

Rise/Fall in USD:

Like its cousin, gold silver is also influenced to a great extent by the movement of the rupee against the US dollar. When the dollar falls against many other currencies, the prices of silver tends to gain and when the dollar gains, silver prices tends to fall. The extent of volatility in silver to an extent is much less in the case of silver, as compared to gold.

Large and Private Institutional Investors:

As we all know very well that the market value and the price of silver is much smaller & lower than the gold. And it's not a difficult task for large investors or some private organisations to influence the silver price. For example, Warren Buffett purchased 130 million troy ounces of silver in 1997, and the silver rate was approximately $4.50 per troy ounce and total value was worth $585 million. So these incidents clearly shows that still the large traders or investors have the tendency to influence the market prices of silver.

Increase in Oil Prices:

Mining of silver is an energy-intensive process, and it has been argued that Oil has a greater corelation with Silver. Hence as the oil prices rise or fall, the prices of silver would also rise or fall. There is also argument that silver and oil should have greater correlation than silver and gold as they are industrial elements and the factors affecting their demands would be common.

Strong Industrialization:

In India, there has been a tremendous growth in industrial sectors and the need for the silver as an industrial commodity has seen a spike in recent days. This clearly resembles that there is a definite change in silver prices in near future and beyond.

Import Duties:

In India, Silver is imported in large numbers and so the silver rates are affected directly by the import duty applicable on imports. And if there is a higher import duty, then more chances of increase in silver prices in india.

 

 

Disclaimer: The silver rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious silver. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on silver information provided.

 
Subscribe now to get personal finance updates in your inbox!