Silver Price Today 2023 in India
₹ 71.9
Silver Rate (1 Gram)
₹ 71,900
Silver Rate (1 Kg)
Latest & updated 2023 Silver Price and Silver Rate in India today with authentic rate from reputed sources across India. The below table lists the current Silver Rates across major cities of India including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Kerala, Pune, Jaipur, Lucknow, Coimbatore, Madurai, Ahmedabad, Surat, Chandigarh, Nashik and other. Rates in other major cities are derived from the prices & rates in these cities.
Silver Rate Today in India
| Weight | Silver Rate In Bangalore | Silver Rate In Chennai | Silver Rate In Delhi | Silver Rate In Hyderabad | Silver Rate In Mumbai |
|---|---|---|---|---|---|
| 1 Kg | 78800 | 78800 | 75100 | 78800 | 75100 |
Also check Gold Price in India & today’s rate in major markets.
Silver Rate by Weight (1gm, 8gm, 10gm, 100gm & 1 KG) in India Today
| Gram | Silver Price |
|---|---|
| 1 gram | ₹ 71.9 |
| 8 grams | ₹ 575.2 |
| 10 grams | ₹ 719 |
| 100 grams | ₹ 7190 |
| 1 Kg | ₹ 71900 |
Daily Silver Rate In India (15 Days)
| Date | Silver Rate (10 grams) | Silver Rate (100 grams) | % Change |
|---|---|---|---|
| 16 May 2023 | ₹ 719 | ₹ 7,190 | -0.83% |
| 15 May 2023 | ₹ 725 | ₹ 7,250 | +0.69% |
| 14 May 2023 | ₹ 720 | ₹ 7,200 | 0% |
| 13 May 2023 | ₹ 720 | ₹ 7,200 | 0% |
| 12 May 2023 | ₹ 720 | ₹ 7,200 | -3.74% |
| 11 May 2023 | ₹ 748 | ₹ 7,480 | -1.97% |
| 10 May 2023 | ₹ 763 | ₹ 7,630 | -0.13% |
| 09 May 2023 | ₹ 764 | ₹ 7,640 | +0.13% |
| 08 May 2023 | ₹ 763 | ₹ 7,630 | -1.29% |
| 07 May 2023 | ₹ 773 | ₹ 7,730 | 0% |
| 06 May 2023 | ₹ 773 | ₹ 7,730 | 0% |
| 05 May 2023 | ₹ 773 | ₹ 7,730 | +1.05% |
| 04 May 2023 | ₹ 765 | ₹ 7,650 | +1.59% |
| 03 May 2023 | ₹ 753 | ₹ 7,530 | +1.48% |
| 02 May 2023 | ₹ 742 | ₹ 7,420 | 0% |
Silver Rate Today in Major Cities of India
| City | Silver Rate (10 grams) | Silver Rate (100 grams) |
|---|---|---|
| Ahmedabad | ₹ 751 | ₹ 7,510 |
| Bangalore | ₹ 788 | ₹ 7,880 |
| Bhubaneswar | ₹ 788 | ₹ 7,880 |
| Chandigarh | ₹ 751 | ₹ 7,510 |
| Chennai | ₹ 788 | ₹ 7,880 |
| Coimbatore | ₹ 788 | ₹ 7,880 |
| Delhi | ₹ 751 | ₹ 7,510 |
| Hyderabad | ₹ 788 | ₹ 7,880 |
| Jaipur | ₹ 751 | ₹ 7,510 |
| Kerala | ₹ 788 | ₹ 7,880 |
| Kolkata | ₹ 751 | ₹ 7,510 |
| Lucknow | ₹ 751 | ₹ 7,510 |
| Madurai | ₹ 788 | ₹ 7,880 |
| Mangalore | ₹ 788 | ₹ 7,880 |
| Mumbai | ₹ 751 | ₹ 7,510 |
| Mysore | ₹ 788 | ₹ 7,880 |
| Nagpur | ₹ 751 | ₹ 7,510 |
| Nashik | ₹ 751 | ₹ 7,510 |
| Patna | ₹ 751 | ₹ 7,510 |
| Pune | ₹ 751 | ₹ 7,510 |
| Surat | ₹ 751 | ₹ 7,510 |
| Vadodara | ₹ 751 | ₹ 7,510 |
| Vijayawada | ₹ 788 | ₹ 7,880 |
| Visakhapatnam | ₹ 788 | ₹ 7,880 |
Silver Price Guide
Silver Price Chart – International Market
Here’s the real-time silver chart updated in real time across World markets. The graph shows minute-by-minute changing rate/price of Silver in USD. However, please note that the prices in India change daily and are updated only once every day across the market in major cities of India.
Silver Price in India: the importance of silver and silver prices
Since times immemorial, silver has been used as an investment like gold and other metals. It has also been regarded as a type of money for more than four thousand years. Its role as a legal tender ended in 1935. The aim of keeping silver varies from person to person as per their needs.
Factors affecting the price of silver
The prices of silver are decided by supply and demand and also speculation like in the case of most commodities. Silver has a relatively smaller market than gold, it has low market liquidity and there is a fluctuation in the demand between industrial and storage value. All these factors contribute to making the price of silver volatile. Due to the value demands, the price of silver often changes with the price of gold.
Supply and demand
Like all other commodities, the price of this metal is also dependent on demand and supply. The supply is limited while there is a constant demand for this metal. This contributes to the price of silver.
Economic trends
When there is good economic time, people spend a lot of money on purchasing jewelry and other items that contain metals like silver. If there is a depression in the economy, these things are the first to get impacted. The growth level and the economical health of a nation are often judged by this parameter.
Global economic trends
When there is economic turbulence, silver has been found to retain its purchasing power and value better than paper currency and other assets. This is the reason why many people opt for silver rather than gold. It makes for safe investment. If the small economic issues become a bigger problem, then the prices of silver and other precious metals go up.
Inflation
Economists believe that silver can save you during small inflation happening over a long period as well as sudden inflation. It makes for safe investment. Inflation will hamper the paper currency status but will protect your purchasing power considerably.
Dollar price
US dollar is an important global currency. US dollar has an inverse relationship with silver pricing. When the dollar price is high, it creates an impact on the price of silver. Investors look for times when the price of the dollar is strong and they find bargain prices to average down the holdings.
Price of gold
There is a great relationship between gold and silver prices for a long time. Whenever there is a rise or fall in silver prices, there will be a change in the price of silver too. Many trade analysts base their purchase on the GSR and they have found silver to be comparatively cheaper than gold.
Silver as commodity
There is always a steady demand for silver as it has varied uses in fields like photography, fashion, and industrial fabrication, electronic and electrical industries.
Silver as investment
Silver cannot be created out of paper like currency notes. Gold and silver are the ultimate monetary forms. Physical silver has great value like gold. This is because there is no risk of a counterparty or default risk. Silver is affordable for the average individual than gold. It is available at 1/70th price of gold.
Silver as Jewellery
Silver jewelry is more affordable than its gold counterparts. Many men and women often find silver jewelry designs to be trendy and fashionable too.
The importance of silver will never cease to exist. This is because silver is good as an investment and also as a commodity in different markets globally.
Silver Price FAQs
What role has silver played historically?
Silver has been used as an investment, similar to gold and other metals, for thousands of years. It has also been considered a type of money for over four thousand years, until its role as a legal tender ended in 1935.
What factors affect the price of silver?
The price of silver is primarily influenced by supply and demand dynamics, speculation, global economic trends, inflation, the price of the US dollar, and the price of gold. It is also affected by its use as a commodity in various industries and its value as an investment.
How do supply and demand impact the price of silver?
Like all commodities, silver’s price is heavily influenced by supply and demand. With a limited supply and constant demand, any shifts in either can significantly impact silver’s price.
How does the economy influence the price of silver?
In times of economic prosperity, demand for silver, particularly for use in jewelry and other items, tends to increase, pushing prices up. Conversely, in times of economic downturn, these items are often the first to be impacted, leading to a decrease in silver prices.
How does silver perform during economic turbulence?
Silver tends to retain its purchasing power and value better than paper currency and other assets during times of economic turbulence, making it a preferred safe investment for many.
How does inflation impact the value of silver?
Silver is often seen as a safeguard against inflation. While inflation can devalue paper currency, it typically does not affect silver in the same way, helping to preserve purchasing power.
How does the price of the US dollar influence silver prices?
The US dollar has an inverse relationship with silver pricing. When the dollar’s value is high, it can depress the price of silver, presenting potential buying opportunities for investors.
What is the relationship between the price of gold and silver?
There is a strong correlation between gold and silver prices. Changes in the price of gold often coincide with similar changes in the price of silver.
Why is silver considered a good investment?
Silver is seen as a good investment because it has intrinsic value, is not subject to counterparty or default risk like paper currency, and is more affordable than gold, making it accessible to average individuals.
Why is silver used in jewelry?
Silver is often used in jewelry because it is more affordable than gold and is considered fashionable and trendy.
How important is silver globally?
Silver remains highly important due to its dual role as both an investment and a commodity in various markets worldwide.