There is a jump of Rs 680 in the price of 1 kg of silver today to Rs 53,900. If you buy 100 grams of silver in India today, you have to shell out Rs 5,390 with an increase of Rs 68 rupees. If you are in Chennai, you will have to pay 59,000 rupees for 1 kg of silver.
The price of 1 kg of silver in Mumbai is Rs 53,900 as of September 6, 2022. The price in Delhi is Rs 53,900 per kg while in Kolkata it is Rs 53,900 per kg.
Check the price of 1 kg silver in other major cities:
Bengaluru: Rs 59,000
Hyderabad: Rs 59,000
Kerala: Rs 59,000
Pune: Rs 53,900
Vadodara: Rs 53,900
Ahmedabad: Rs 53,900
Lucknow: Rs 53,900
Coimbatore: Rs 59,000
Why is money in India cheaper?
Silver has been considered cheaper than gold throughout modern history. The majority of silver is used industrially. It is not worth recycling the money. Silver used for conductivity purposes in dated electronic devices. One of the most crucial elements that contribute to making silver cheaper than gold is the rarity of the metal itself.
The supply and demand imbalance between gold and silver makes up the bulk of the price difference. One of the main reasons why silver is cheaper is the drop in demand around the world.
It is important to know that, like all other metals, silver is a function of supply and demand in the country. The higher the demand, the higher the price of the precious metal and vice versa.
Money more expensive by Rs 4700 in 1 week in India: check the latest price in your city today
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Article first published: Tuesday, September 6, 2022, 7:02 p.m. [IST]