Silver Price Chart
|Silver Rates||Silver (in Rs/Kg)||City Name||Previous||Current||Change (%)|
|bangalore||41915.00||42071.00||0.37 % ⌃|
|chennai||41915.00||42071.00||0.37 % ⌃|
|delhi||41915.00||42071.00||0.37 % ⌃|
|hyderabad||41915.00||42071.00||0.37 % ⌃|
|kerala||41915.00||42071.00||0.37 % ⌃|
|mumbai||41915.00||42071.00||0.37 % ⌃|
Price of Silver in Different Cities
Silver Market Trend
Silver Rate in India
The Indian market offers to invest in commodities like Silver and gold beyond the ordinary shares, real estate, and bonds. The commodity markets are stable than the equity and mutual funds. This is a viable option regarding an investment that is safe.
Silver is an industrious as well as a precious metal. Silver in India is mainly imported rather than produced. The metal is malleable, ductile, lustrous, and also a good conductor of electricity.
The demand for Silver is rising every day in India and China. The ever-increasing gold price has shifted the investor's attention to Silver which is also a haven. The versatile metal is mostly utilized in industrial applications.
The demand for the metal has increased at a rate greater than its production which means that the commodity only appreciates.
India's Silver demand is mostly for jewelry and Silverware. The increasing industrial growth would result in a higher amount of application for the metal.
The Silver prices are fixed based on various factors. The buying, selling, production, and demand are the factors that affect the Silver pricing in India on a daily basis.
Multi Commodity Exchange of India is the full form of MCX. It is an autonomous body for commodity exchange in India. It offers to trade in bullion, energy and agricultural commodities apart from non-ferrous metals.
This is an exchange for commodities like the BSE is for stocks and shares. The MCX sells the products in bulk.
The price for the asset depends upon various factors and is not determined at MCX. The MCX Silver rates are set by trading activity and a bunch of different other factors.
The basic factors which affect the price of Silver are:
- International pricing
- USD rate in Rupees
- Unit of measurement for the commodities
- Troy ounce to grams conversion
- Political conditions
- Grading of the product
Trend of Silver Rate in india for July 2017 (rates per Kg)
|Jul 1st Rate||Rs. 41755.00/- per Kg|
|Jul 31st Rate||Rs. 41252.00/- per Kg|
|Highest Jul Rate||Rs. 41755.00/- per Kg|
|Lowest Jul Rate||Rs. 38142.00/- per Kg|
|Percentage Change||-1.22 %|
Silver Price History
Silver is a non-ferrous metal that is malleable, ductile, and lustrous. Moreover, it is also a good conductor of electricity. These properties are the reason the increase of the metal has increased in the industrial applications.
India imports the majority of the silver and utilizes it for jewelry and silverware. The silver price history shows that the commodity has always been a stable commodity to invest in rather than equity, shares, and bonds.
The investors closely follow the silver price news that helps them decide whether to sell, hold or buy the commodity. The news gives an insight into the supply-demand patterns which can be used to evaluate the exact profits.
The price fixing is done by organizations that include in the buying and selling of the metal. The international trading impacts the price of the metal the most.
Sterling Silver is a commodity that is 95% silver and rest other 5% are metals mostly copper. This kind of silver is used primarily in jewelry.
Sterling silver is used in electronics, Solar panels and traditional film photography.
Silver is traded by the MCX. Its pricing depends mainly on two important factors:
Though shocking, its prices are dependent on the price of Gold in the international market as well. Various analysis show that the prices of Gold and Silver are related with each other.
MCX is an independent association that buys and sells commodities like the BSE buys and sells stocks and shares. The MCX does not decide the price of the commodity it just acts as an exchange medium.