The price of silver jumped by Rs 200 to stand at Rs 52,500 per 1 kg on September 3, 2022. The price of 100 gram of silver jumped by Rs 20 to stand at Rs 5250.
The price of silver in India is determined by international prices, which move in both directions. The price of silver also depends on the 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 silver has been on the rise since September 1, 2022. The price jumped by Rs 800 on September 1, 2022 to stand at Rs 51,600 in India per 1 kg. The price rose by Rs 700 on September 2, 2022 to close at Rs 52,300. Earlier on August 31, 2022, the price of silver fell by Rs 3,200 to close at Rs 50,800 per kg. The price fell on August 29, 2022 by Rs 800 to close at Rs 54,000 per kg.
Check the price of silver in major cities today for 1 kg:
Mumbai: Rs 52,500
Delhi: Rs 52,500
Calcutta: Rs 52,500
Bengaluru: Rs 58,200
Hyderabad: Rs 58,200
Kerala: Rs 58,200
Pune: Rs 52,500
Factors determining the silver price per 1 gram in India today
There are a number of factors that affect silver prices in India today. Among these are the international prices of the precious metal. In India, silver prices are largely inspired by what is happening in international markets.
Now, we wish to assert that the prices of goods and money move almost in phase with each other. What we mean is that when gold prices rise, silver prices also rise. On the other hand, when silver prices rise, gold prices must act accordingly. Overall, many other factors tend to influence the silver per gram rate in India.
These also include the movement of interest rates as well as inflationary trends in the country.
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