Today’s Silver Price India, Oct 22: Silver Prices Soar, Check Latest Price In Your City

Price of silver witnessed a jump of Rs 1550 to Rs 57,700 per kg in India on Saturday. The price of silver has been falling for the last three days. On October 18, silver prices fell by Rs 3900. The price fell by Rs 200 on October 19 and by Rs 250 on October
20, 2022.

Silver prices registered sharp jump on October 17, 2022 when the prices surged by Rs 5200 to Rs 60,500 per kg.

Factors that affect silver prices
There are several factors that determine prices of silver in India today. These may include the global prices of precious metal. Price of silver in India mainly take cues from the movement of global markets.

Silver and gold prices move in tune with each other. If gold prices surge, silver prices will also rally and if silver prices jump, gold prices will also rise. Apart from these factors, silver prices are also determined by interest rate movement and inflationary trends in the country.

Why silver prices are cheaper than gold price?
Silver prices are 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 lesser demand globally. It is worth noting 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.

Silver Prices in Major Cities Of India As On October 22, 2022

City	1 Kg
Chennai	Rs 63,200
Mumbai	Rs 57,700
Delhi	Rs 57,700
Kolkata	Rs 57,700
Bangalore	Rs 63,200
Hyderabad	Rs 63,200
Kerala	Rs 63,200