Silver Rate/Price in India Today (25/7/2023)

As of July 25th, 2023, the silver price in India stands at ₹77.50 per gram. The silver price in India is influenced by international market dynamics, which can fluctuate in either direction. Additionally, the exchange rate of the Indian rupee against the US dollar plays a crucial role in determining silver prices. If the rupee weakens against the dollar while international prices remain stable, the cost of silver will likely rise, making it more expensive for consumers in India.

Today Silver Price Per Gram/Kg in India (INR)

Today's Silver Price in India (INR)				Yesterday's Silver Price in India (INR)
Gram		₹	77.50	Gram		₹	77.50
8 grams		₹	620	8 grams		₹	620
10 grams		₹	775	10 grams		₹	775
100 grams		₹	7,750	100 grams		₹	7,750
1 Kg		₹	77,500	1 Kg		₹	77,500
Daily Price Change			0	Daily Price Change			0

Silver Rate Today In Major Cities

Indian Major Cities Silver Rates Today	10 gram	100 gram	1 Kg
Chennai	₹805	₹8,050.00	₹80,500.00
Mumbai	₹775	₹7,750.00	₹77,500.00
Delhi	₹775	₹7,750.00	₹77,500.00
Kolkata	₹775	₹7,750.00	₹77,500.00
Bangalore	₹760	₹7,600.00	₹76,000.00
Hyderabad	₹805	₹8,050.00	₹80,500.00
Kerala	₹805	₹8,050.00	₹80,500.00
Pune	₹775	₹7,750.00	₹77,500.00
Vadodara	₹775	₹7,750.00	₹77,500.00
Ahmedabad	₹775	₹7,750.00	₹77,500.00
Jaipur	₹775	₹7,750.00	₹77,500.00
Lucknow	₹775	₹7,750.00	₹77,500.00
Coimbatore	₹805	₹8,050.00	₹80,500.00
Madurai	₹805	₹8,050.00	₹80,500.00
Vijayawada	₹805	₹8,050.00	₹80,500.00
Patna	₹775	₹7,750.00	₹77,500.00
Nagpur	₹775	₹7,750.00	₹77,500.00
Chandigarh	₹775	₹7,750.00	₹77,500.00
Surat	₹775	₹7,750.00	₹77,500.00
Bhubaneswar	₹805	₹8,050.00	₹80,500.00
Mangalore	₹760	₹7,600.00	₹76,000.00
Visakhapatnam	₹805	₹8,050.00	₹80,500.00
Nashik	₹775	₹7,750.00	₹77,500.00
Mysore	₹760	₹7,600.00	₹76,000.00
Cuttack	₹805	₹8,050.00	₹80,500.00
Davanagere	₹760	₹7,600.00	₹76,000.00
Bellary	₹760	₹7,600.00	₹76,000.00
Gurgaon	₹775	₹7,750.00	₹77,500.00

Silver Rate in India in Last 10 Days

Silver Rate in India for Last 10 Days
Date	10 gram	100 gram	1 Kg
Jul 25, 2023	₹775	₹7,750.00	₹77,500.00
Jul 24, 2023	₹775	₹7,750.00	₹77,500.00
Jul 23, 2023	₹780	₹7,800.00	₹78,000.00
Jul 22, 2023	₹780	₹7,800.00	₹78,000.00
Jul 21, 2023	₹790	₹7,900.00	₹79,000.00
Jul 20, 2023	₹784	₹7,840.00	₹78,400.00
Jul 19, 2023	₹784	₹7,840.00	₹78,400.00
Jul 18, 2023	₹780	₹7,800.00	₹78,000.00
Jul 17, 2023	₹777	₹7,770.00	₹77,700.00
Jul 16, 2023	₹775	₹7,750.00	₹77,500.00

 

Factors Determining Silver Price per 1 Gram in India Today:

1. International Prices: The silver prices in India are heavily influenced by international prices of the precious metal. Indian silver rates often follow trends in the global markets.
2. Relationship with Gold Prices: Silver and gold prices tend to move in tandem. When gold prices increase, silver prices also rally, and vice versa.
3. Currency Movement: The value of the Indian rupee against the US dollar plays a crucial role in determining silver prices. If the rupee depreciates against the dollar, silver becomes more expensive for Indian buyers.
4. Interest Rates: Movements in interest rates impact silver prices. Higher interest rates may lead investors to shift their funds to other investments, affecting demand for silver.
5. Inflationary Trends: Inflation can influence silver prices as investors often use precious metals like silver as a hedge against inflation.

Reasons for Silver Being Cheaper Than Gold in India:

1. Industrial Use: Silver is widely used in various industrial applications, which reduces its availability for investment purposes. The majority of silver is consumed in industries and is not typically recycled like gold.
2. Supply and Demand Imbalance: The supply of silver is relatively higher compared to gold, leading to a price difference between the two metals.
3. Lesser Global Demand: Silver experiences lower demand worldwide compared to gold, contributing to its relatively lower price.

Where to Buy Silver in India:

1. Banks and Jewellers: Silver can be purchased from banks or jewellers. However, silver coins from banks may be expensive due to additional charges like tamper-proof packing and assay certificates.
2. Commodity Futures Exchange: Silver can be bought and traded in the commodity futures exchange where contracts are traded in units of 1 kg and delivered in minimum lots of 30 kg.
3. E-series Products: National Spot Exchange (NSEL) offers E-series products like E-Silver, where investors can trade or invest in silver similar to equities.
4. Silver ETFs: While there are no silver ETFs in India, investors can explore silver ETFs listed on US markets by opening an account with a global stock broker.

Factors That Can Influence Silver Prices:

1. US Dollar Stability: The strength or weakness of the US dollar affects silver prices inversely.
2. Industrial Demand: Silver's use in various industries, such as electronics and electricity markets, impacts its prices based on industrial demand.
3. Worldwide Production: Silver prices depend on its availability in the market, influenced by global production levels.
4. Inflation: High inflation often prompts investors to seek safe-haven assets like silver, leading to increased demand and higher prices.
5. Correlation with Gold: Silver prices tend to correlate with gold prices, as they are both considered precious metals and attract similar investor sentiment.

Note: Market trends can fluctuate rapidly, and investors should carefully analyze various factors before making investment decisions.