Image Source : FREEPIK Silver price.
Silver price on January 1: Silver prices on Wednesday (January 1) rose Rs 367 to Rs 87,600 per kilogram as participants increased their bets. On the Multi Commodity Exchange, silver contracts for March delivery increased Rs 367 or 0.42 per cent to Rs 87,600 per kg in a business turnover of 34,201 lots.
Fresh positions built up by participants led to a rise in silver prices, analysts said. Globally, silver was trading 0.58 per cent lower at USD 29.24 per ounce in New York.
Here are top 5 South Cities for Silver Rates in India:
Chennai: Silver Prices Today in Chennai is Rs 102500.0/Kg. Yesterday silver price on 30-12-2024 was 102600.0/Kg,and last week’s silver price on 25-12-2024 was Rs 101500.0/Kg
Bengaluru: Silver Prices Today in Bangalore is Rs 94400.0/Kg. Yesterday silver price on 30-12-2024 was 94500.0/Kg,and last week’s silver price on 25-12-2024 was Rs 93400.0/Kg
Hyderabad: Silver Prices Today in Hyderabad is Rs 103100.0/Kg. Yesterday silver price on 30-12-2024 was 103200.0/Kg,and last week’s silver price on 25-12-2024 was Rs 102100.0/Kg
Visakhapatnam: Silver Prices Today in Visakhapatnam is Rs 101500.0/Kg. Yesterday silver price on 30-12-2024 was 101600.0/Kg,and last week’s silver price on 25-12-2024 was Rs 100500.0/Kg
Vijayawada: Silver Prices Today in Vijayawada is Rs 103900.0/Kg. Yesterday silver price on 30-12-2024 was 104000.0/Kg,and last week’s silver price on 25-12-2024 was Rs 102900.0/Kg
Factors affecting Silver prices:
The price of silver constantly fluctuate due to various factors, both domestic and international.
Global Demand: The overall demand for gold and silver worldwide plays a significant role in price changes.
Currency Fluctuations: Changes in the value of currencies, particularly the US dollar, relative to other currencies can affect the attractiveness of gold and silver as investments.
Interest Rates: Higher interest rates can make gold and silver less attractive as investments as they offer no interest income.
Government Regulations: Government policies and regulations related to the gold and silver trade can impact prices.
World Events: Economic conditions, geopolitical events, and other global factors can influence the demand for and price of precious metals.
Insights from Jewelers: Jewelers, as experts in the precious metals industry, can provide valuable insights into market trends and potential price movements
