Silver Rate in Delhi
24th Feb 2024
Today MCX silver price in rupees per 1 kg.
Today silver price in india is 56,300.00 rupees per Kg
Silver Rate in Delhi Per Gram (INR)
Silver Rate In Delhi
The national capital, with its vast population, can well be called a driver of silver prices in the country. The ever increasing middle- income families invests heavily in this metal, and the lower strata of society are also not far behind. The Silver rate in Delhi has, more of less, declined since the start of the year.
The mechanisms of global demand and supply led to a slight increase of 6.49% in prices in January, but since then, the price of silver in Delhi has moved downwards. February and March recorded an overall decline in prices, with April witnessing a significant drop of 5.61%.The current silver rate in Delhi is in continuation of this trend.
The fall in silver price in Delhi is being attributed to a weak overseas trend. However, given the current demand for the metal in the industrial sector, it would not come as a shock if prices accelerate in the near future. We have given today’s silver rate in Delhi for those who wish to buy the precious metal.
Silver Rate in Delhi for Last 10 Days
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Comparison for 1 Gram Silver Rates for Delhi (In Rupees/Gram)
Historical Price of Silver Rate in Delhi
Silver Price in Delhi
Silver has gained a substantial popularity as an investment option among the people of Delhi. With a huge population, the capital city has been showing a continuous huge demand for this precious metal. That’s why Silver price in Delhi offers extensive investment avenues in various forms such as silverware, coins, utensils and so on.
The Silver Story Saga in the Capital Making a Mark of Its Own
So just when you thought it was gold that stood the test of times as a most sought after commodity, you will be mistaken. Considering a place like Delhi, it is the silver metal that always had a steady demand, and it still does.
What Makes the Demand for Silver in Delhi?
Delhi is teeming with its own population, and quite surprisingly enough, it is the silver price in Delhi that seems to set the benchmark for the price of the metal in the rest of the country. The Delhi silver rate is influenced by every class of people in the society, right from the middle class to that of the lower income groups.
It is the aftermath of inflation that more and more people began to take up buying silver as a form of investment. The rate of silver in Delhi got the boost mostly because of such reasons.
The metal has found customers in typically its physical form. So while negotiating for price of silver in Delhi one will come across the metal in varied forms of coins, jewelry, silverware and so on. At times the silver metal also undergoes trading in the form of exchanges with authorised bodies.
Why is Silver a Good Option to invest?
- It is simple to sell and own silver
- Silver is far cheaper than gold
- Silver coins/statuettes are an attractive investments and ideal heirlooms
- It is easy to buy and sell it in form of bars and coins
- Can be liquefied to instant cash by selling to a dealer
- It is a tangible asset unlike bank accounts or shares
- It can be availed in any quantity according to the investor’s preference
Silver as an Investment in Delhi
Silver is one of the most popular commodities in Delhi. The city is a major driver for silver, both for sale and purchase. Thus, silver rate today in Delhi can be considered as a benchmark for silver price across the country. Not only seasoned experts, people from lower income group, too, consider silver as an investment that can financially protected them during inflation. This precious metal comes with a range of investment options including:
Physical Silver: Jewellery, ornaments, silverware are considered as physical silver and are a lucrative investment avenue. Silver jewellery is popular among Indian women who love to adorn themselves with silver jewellery. Silver jewellery, such as rings, neckpieces, earrings, bangles, is quite famous. Silverware is popular for gifting purposes and can be fashioned as utensils. Also, it is considered auspicious by Hindus. One can buy silver from a jewellery shops, metal stores or from authorised dealers in the city.
Silver Contracts: Silver contracts are available from the Multi Commodity Exchange (MCX) and National Commodities and Derivatives Exchange (NCDEX). These exchanges offer silver in different purities, such as 999 and 995 purity and offer contracts on silver of various weights. In general, silver is priced and sold in base units of 1 kg.
Silver Coins and Silver Bars- Silver bars and coins are a popular investment options which can be used in future. If you want to use a huge amount of silver, then invest in silver bars. They offer more purity and weight than silver coins. Moreover, they are more cost effective than the coins. Silver bars can be stored easily owing to their convenient size.
On the other hand, silver coins have their own characteristic value and become more valuable over time. Silver coins are popular among people not only for their silver content but also because the value of these coins increases with time.
Owing to this historic city’s old interest, this shiny metal offers large options to choose from and those mentioned above are some of them.
Things to Remember Before Buying Silver Jewellery in Delhi
Silver jewellery quite famous due to its affordability, durability and the range of attractive designs available in the market. However, one should consider the metal’s purity while buying precious metals like silver. This reduces the chances of you being fooled and you will be able to resell the metal at a good price in the future. The things to consider while buying silver jewellery are:
- The best silver form is sterling silver and consists of .925 or 925, meaning that it’s 92.5% pure silver. Anything that is less than this won’t have the same lustre.
- Always buy one with a proper purity stamp.
- Take your time to look for any imperfections
- You can buy interchangeable silver jewellery if you have a budget.
- Always ask about the return policy, in case anything goes wrong later
- In case you are buying silver jewellery in Delhi online, make sure the dealer is a reputed one. Also, check for today silver rate in Delhi to avail it at the best rate.
Where to Buy Silver in Delhi?
It is highly recommended for those who are buying silver in Delhi to only approach certified jewellers who offer hallmark jewellery. To name a few reputed and old jewellers in Delhi- Gandaram Jewellers, Prince Jewellers, Ram Jewellers, PC Jewellers, Rama Krishna Jewellers, Jewellery Mart, Mehrasons, Tanishq etc.
Factors that influence Silver prices in Delhi
There are some factors that influence the silver rate in Delhi. The main among them include:
- Silver and gold tend to go simultaneously. Due to economic uncertainty, if gold price goes up, silver prices tend to go high at the same time and vice versa.
- With the growing industrial demand and newly introduced application of silver has increased the non-investment demand of silver in India. With the rise of industrial usage of silver has increased the demand for the metal and so its price.
- Silver rates are subjected to global money supply and inflation.
- As a global currency, Dollar has a direct impact on silver. When dollar hikes, it has a strong pressure on silver price. At the same time, the investors wait for times when dollar comes down from strong to average by searching bargain prices for their purchases.
- The silver market is highly influenced by the policies implemented by the government as well. In case of India, due to the recently introduced Goods and Service Tax, 3% GST is applicable on gold and silver, which eventually increased the silver price.
Historical Silver Rate in Delhi
Over the years, silver price in Delhi has been seeing a spontaneous growth in price. Let’s have a glance at the periodic growth of silver rate today in Delhi.
|Lowest Price (Rs. Per kg)
|Highest Price (Rs. Per kg)
Movement of Silver Rate in Delhi
Silver rates in Delhi likely to move in line with the international markets. With an international rally, one could see a sharp movement in silver rate today in Delhi. However, these days there is no such great change in the price of silver either way. It is noteworthy that, since last 12 months the metal has been showing a steady trend. The silver rate today in Delhi is expected to be steady in order to avoid a huge uptick in silver prices. In such scenario, if one doesn’t wish to buy physical silver, he/she can buy it from MCX, where silver contracts can be bought from the exchange. The best part of investing through MCX is there is no locker change and one can remain safe from theft. Term Insurance is also a way through which you can secure your family's future.
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