Silver prices saw a sharp drop from Rs 1100 yesterday in India to close at Rs 52,800 per kg. However, an opposite trend is observed today. Silver prices saw a sharp rise on September 8, 2022 with a gain of Rs 1,400 to Rs 54,200 in India. Silver prices have been rising for the last 5 days since September 1, 2022. The growing momentum came to a halt yesterday when the price fell by Rs 1100.
The price of silver was recorded at Rs 51,600 on September 1, 2022 with a gain of Rs 800 per kg.
Check silver prices in major cities of India below:
Reasons to Buy Silver in India
There are many reasons to buy silver in India. Investors can buy silver in the form of coins, jewelry as an investment. When buying silver as an investment for future use, it is better to opt for coins rather than jewelry. Because when you sell silver jewelry, you don’t get the manufacturing costs back.
Silver does not react to air. But base metals such as lead and copper oxidize with air and separate from silver. The ancients refined silver through a process called cupellation. It is the process of refining silver by heating the silver ore and blowing air through it.
The largest silver mine is located in Mexico. It is in Penasquito, located in the northeast part of the state of Zacatecas, Mexico. This mine is considered the largest silver mine in the world by reserve.
Health benefits of silver
Silver is not only attractive to the eyes, but also can help a person maintain good health. Investing in silver makes you happy because it can be bought at a lower price than gold. Silver is cheap compared to gold.
Indians love gold and silver. Wearing silver jewelry has many health benefits. Silver is considered a powerful antimicrobial agent.
Silver helps fight infections. Wearing silver helps in flu prevention, wound healing, etc. A lot of people would sleep much better when wearing silver.
After wearing Silver, many people have reported an improvement in their energy levels. Silver helps in the regulation and circulation of internal heat.
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: Thursday, September 8, 2022, 12:11 p.m. [IST]