Silver Rate Today In India 2024: India is one of the most important economies in the world and with this comes a lot of responsibility. One of the things the Indian government is focusing on is ensuring that the country has a strong currency that will protect its citizens’ interests. To this end, they have been implementing policies that will support the growth of the Indian economy. In this article, we take a look at one such policy the Silver Rate today in India 2024.
The price of silver in India today is influenced by a variety of factors. The precious metal’s international prices are one of these. The price of silver in India largely follows trends in international markets. Now we would like to make the observation that the prices of gold and silver nearly coincide. We mean that silver prices also rise when gold prices rise. Conversely, when silver prices rise, gold prices follow suit. Overall, the price of silver per gram in India is influenced by a lot of other things. Changes in interest rates and national inflationary trends are also included.
Silver Rate Today In India 2024
In India, there are many people who are looking to invest in precious metals. This is because there is a lot of uncertainty in the global economy, and precious metals offer a safe investment that is not subject to the whims of the stock market. Here are five facts about silver rates today in India 2024 that will help you make an informed decision about whether or not to invest in silver.
In India, we can only purchase silver from a bank or jeweler. Silver coins purchased from banks typically cost a lot. because banks charge us for things like tamper-proof packaging and an assay certificate when we buy silver coins from them. Additionally, purchasing silver jewelry is more expensive than purchasing coins. These include a ten percent or higher making fee. Additionally, at the time of resale, it will include a melting charge of 15% or higher, lowering effective returns. Silver can also be purchased on the commodity futures exchange. Contract sizes are large on commodity futures exchange. The smallest silver contract is traded in 1 kilogram increments and delivered in minimum lots of 30 kilograms. One of the freely traded precious metals is silver, which is available for purchase both in physical and electronic form.
Silver Rate Today In India 2024 Details
| Parameter | Silver price |
| 1 Nov Rate | Rs.56,900 per kg |
| October 24 Rate | 57500 per kg |
| Highest Rate in October | 62000 per kg on 1 October |
| Category | Trending |
| Official Website | Click Here |
About Silver Metal
Unknown Facts About Silver metal was one of humanity’s first five discovered metals. Silver artifacts have been discovered as far back as 4000 BC. In ancient Egypt, it was the first metal to be used as currency. Silver had a higher value than gold at one point in time. Silver is beneficial to health. We frequently hear the expression “born with a silver spoon in their mouth.” It implies that the child became wealthy as an adult. Until now, wealthy families frequently feed their children with silver spoons because the metal kills germs. Seafloor is where the Anglo-Saxon word silver comes from.
One of the English words without a possible rhyming word is Silver. In at least fourteen languages, the terms silver and money are synonymous. When polished, silver shines brightly. The polished silver is the most reflective metal because it reflects 95% of the visible spectrum. It is utilized in the production of mirrors because it is the most reflective metal. Because of its reflection properties, it is used to make solar panels, microscopes, telescopes, and other devices. One of the world’s leading producers of silver metal is Mexico. It was able to produce approximately 5600 metric tons of metal in 2017.Peru is the second-largest silver producer, followed by China.
Silver price in India 16 November 2024
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. 63,800 per kg or Rs. 63.8 per gram whereas the lowest price was Rs. 60,200 per kg or Rs. 60.2 per gram.
Today Silver Price Per Gram/Kg in India (INR)
| Gram | Silver Rate Today | Silver Rate Yesterday | Daily Price Change |
| 1 gram | ₹ 62 | ₹ 62.70 | ₹ -0.70 |
| 8 gram | ₹ 496 | ₹ 501.60 | ₹ -5.60 |
| 10 gram | ₹ 620 | ₹ 627 | ₹ -7 |
| 100 gram | ₹ 6,200 | ₹ 6,270 | ₹ -70 |
| 1 Kg | ₹ 62,000 | ₹ 62,700 | ₹ -700 |
Silver Rates Today City Wise
| City | 10 gram | 100 gram | 1 Kg |
| Chennai | ₹ 685 | ₹ 6,850 | ₹ 68500.00 |
| Mumbai | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Delhi | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Kolkata | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Bangalore | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Hyderabad | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Kerala | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Pune | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Vadodara | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Ahmedabad | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Jaipur | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Lucknow | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Coimbatore | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Madurai | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Vijayawada | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Patna | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Nagpur | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Chandigarh | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Surat | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Bhubaneswar | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Mangalore | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Visakhapatnam | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
| Nashik | ₹ 620 | ₹ 6,200 | ₹ 62000.00 |
| Mysore | ₹ 675 | ₹ 6,750 | ₹ 67500.00 |
Silver Rate in India for Last 10 Days
| Date | 10 gram | 100 gram | 1 Kg |
| Nov 16, 2022 | ₹ 620.00 | ₹ 6,200.00 | ₹ 62000.00 ( -700 ) |
| Nov 15, 2022 | ₹ 627.00 | ₹ 6,270.00 | ₹ 62700.00 ( 1000 ) |
| Nov 14, 2022 | ₹ 617.00 | ₹ 6,170.00 | ₹ 61700.00 ( 0 ) |
| Nov 13, 2022 | ₹ 617.00 | ₹ 6,170.00 | ₹ 61700.00 ( 0 ) |
| Nov 12, 2022 | ₹ 617.00 | ₹ 6,170.00 | ₹ 61700.00 ( -200 ) |
| Nov 11, 2022 | ₹ 619.00 | ₹ 6,190.00 | ₹ 61900.00 ( 500 ) |
| Nov 10, 2022 | ₹ 614.00 | ₹ 6,140.00 | ₹ 61400.00 ( -300 ) |
| Nov 9, 2022 | ₹ 617.00 | ₹ 6,170.00 | ₹ 61700.00 ( 850 ) |
| Nov 8, 2022 | ₹ 608.50 | ₹ 6,085.00 | ₹ 60850.00 ( 450 ) |
| Nov 7, 2022 | ₹ 604.00 | ₹ 6,040.00 | ₹ 60400.00 ( -100 ) |
Buying into silver futures in India
In India, you can invest in silver futures, which are slightly riskier than buying actual silver. They are risky because you get more exposure, and even a small change in India’s silver prices could cost investors a lot of money. If you want to invest in silver, it’s best to buy the actual amount and just keep holding onto it. It’s important to buy and sell silver because you can make money from it. However, you can keep the precious metal in your possession for a longer period of time if you so choose. The likelihood of making money on the same increases with time. The buying and selling of silver futures is similar.
Also Read-Gold Price Today 2024
Production of silver in India
India is primarily a nation that imports silver. India’s silver production is insufficient to meet the rising domestic demand. India ranks 20th on the list of nations that produce silver. The three most important states in India that produce silver are Rajasthan, Gujarat, and Jharkhand. Even though India does not produce a significant amount of silver, this does not affect India’s position among the nations that consume the most silver worldwide. India’s silver consumption ranks third. The world’s largest silver consumers are Japan and the United States. Silver comes from China, the United Kingdom, the European Union, Australia, and Dubai, among other places. Chinese silver accounts for more than half of India’s imports of silver. Mumbai was India’s main center for silver imports, but now Ahmedabad and Jaipur are also on the list.
Silver Rate in India 2024
In addition to shares, real estate, and bonds, the Indian market offers investments in commodities like silver and gold. Equity and mutual fund markets are more volatile than commodity markets. Regarding a safe investment, this is a viable option. Silver is both a valuable and productive metal. The majority of silver in India is imported rather than produced. The metal is flexible, ductile, and shiny, and it also conducts electricity well. India and China’s demand for silver is steadily rising. Investors have turned their attention to Silver, which is also a safe haven, as the price of gold keeps rising. The majority of applications for the versatile metal are in the industrial sector.
The commodity is only going to appreciate because demand for the metal has grown faster than production. The majority of India’s demand for silver is for silverware and jewelry. The metal would find a wider range of uses as the industrial sector expands. The prices of silver are set by a number of different factors. Silver prices in India are affected on a daily basis by buying, selling, production, and demand.
FAQ
What Is silver costly?
When compared to gold, silver is generally a more cost-effective way to invest. As a result, it is also possible to buy in bulk.
What Is it better to buy gold or silver?
Under current market conditions, a dollar investment in silver will yield around 80 more ounces of silver than in gold. Moreover, unlike gold, silver is less dense than water. Pure silver has a volume of 84% that pure gold does. When it comes to the same dollar value, silver takes up 128 times more space than gold.
What is the cost of 1 gram pure silver?
Silver is mostly imported in India rather than produced. All about the prices of silver in several cities across India can be found on this page. In India, the price of one gram of silver is ₹57.5, while the price of one kilogram silver bar is ₹57,500.
How can I buy silver in India?
The simplest way to buy silver in India is to purchase it in the physical form, which you can do at any time. Bars and coins are used to buy items. A jewelry retailer can provide you with them. Always go to a reputable and authorized jeweller.
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