Are you looking for Latest Silver Rate in India? Here we are providing you with daily updated Silver Price in India. Check out Today’s Silver Price in India here. Due to current inflation rates and international rates of Gold and Silver, Silver Rate in India Keeps changing daily.
Today’s Silver Price in India – 18th February 2024
In the below table, you can check the current live 1 Gram Silver Price in India and 10 Gram Silver Rate in India. Apart from Today’s Silver Rate in India, we also give you a change in Silver Price from Yesterday’s Silver Rate in India.
Not just the regular shares such as bonds, ordinary shares, and real estate, it is seen that the Indian market has shown keen interest in investing in other rare commodities such as gold and silver. This is because it was seen that the commodity market is somehow more stable than equity as well as mutual funds. Silver is a metal that is industrious enough in the country. This metal is primarily imported rather than produced. In terms of composition, silver is lustrous, ductile, and malleable. Silver is also termed a very good conductor of electricity.
Silver in India
In India, as the days go by, the price of silver keeps elevating and the situation is the same in China. Silver is mainly put to use for industrial purposes. In commercial terms, the demand for silver is greater than its very production. Thus, in a nutshell, it can be said that the commodity keeps on appreciating. In terms of demand, this commodity is usually demanded higher in silverware and jewelry shops.
Silver rate in India
Considering that silver contributes to the majority of the application purposes, it is evident that it has become one of the popular metals in Indian markets. As of the current status, one gram of silver price today in India is around 61.4 Rs. This means the price of 1 kilogram is 614000 Rs. in India. It has been seen that the silver price is comparatively cheaper in India and this is because silver ranges from about the one-seventh price of whole gold. Another reason is that, in the world of importing, silver has been more dominating than gold itself. All of these factors, also justify the statement as to why the silver rate today in India is pretty affordable than gold.
Factor influencing silver price for every gram in India
One of the common factors that influence silver price is the international price of the metal. The price of silver fluctuates in the same way as the price of gold. This means that if the gold price is reaching the sky then the same happens in the case of silver and vice versa. India has bagged the fifth position in the category of silver consumption. This is because the majority of the country is dominated by rural land and it is that rural land that purchases the most of the silver as they see it as a metal that is precious enough to invest in.
Conclusion
Here, in India, banks and jewelers directly provide silver. However, silver coins are somewhat expensive. The reason behind this is that when one buys a silver coin, one also has to pay a certain amount for the tamper-proof packaging as well as an assay certificate.
There are many traders who deal in Silver trading in India, looking for day-to-day silver price updates. You can check the Silver Rate in India here. We have already provided Gold Rates in India, Platinum Rates in India, and Petrol Rates in India.
Disclaimer – We at, 15August.in, show you daily updated Silver Rates in India based on data provided by India Bullion and Jewellers Association, India. This Silver Rate Does NOT include GST, TCS, and other taxes on Silver in India. To check the exact Silver rate, you can visit local jewelers in India for Silver rates.