Today's Silver Price India: Big Drop In Silver Prices After Rising For 5 Days

There is a sharp fall of Rs 1100 in the price of 1 kg of silver in India as on September 7, 2022. If you are planning to buy 1 kg of silver in India, you need to shell out Rs 52,800 today.

It is worth noting that silver price in India is determined by international prices, which move in either direction. Other than that, silver price 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.

The price of 100 gram of silver in India as on September 7, 2022 is Rs 5,280. Meanwhile, the price of 10 gram of silver on Wednesday is quoted at Rs 528.

Check price of 1 kg of silver in major cities:

City	1 kg Silver Price
Chennai	Rs 58,000
Mumbai	Rs 52,800
Delhi	Rs 52,800
Kolkata	Rs 52,800
Bangalore	RS 58,000
Kerala	Rs 58,000

Factors determining silver price per 1 gram in India today
There are a number of factors that impact silver prices in India today. Among these include the international prices of the precious metal. In India silver prices largely takes cues from what is happening in the international markets. Now we wish to state that good and silver prices move almost in tune with each other.

When gold prices go higher, silver prices too rally. On the other hand, when silver prices go higher, gold prices to act in tune. All in all, there are many other factors that tend to influence the per gram silver rate in India. These also include interest rate movement as also inflationary trends in the country.

Why Silver in India is cheaper?
Silver has been considered cheaper than gold throughout modern history. The majority of silver is used industrially. It is not worth to recycle Silver. Silver used for conductivity purposes in dated electronic devices. One of the most crucial elements that go into making silver cheaper than gold is the rarity of the metal itself.

The imbalance in supply and demand between gold and silver makes up most of the difference in their prices. One of the prime reasons for silver to be cheaper is because of the lessser demand worldwide. It is important to know that like all other metals, silver is a function of demand and supply in the country. Higher the demand, higher would be the price of the precious metal and vice versa.