Silver Becomes Dearer In India After Today's Sharp Jump, Up By Rs 1600 In 6 Days

Silver prices have become dearer today by Rs 600 as it has been following the upward trend since September 17, 2022. Today the price of silver in India is quoted at Rs 58,000 per kg after a surge of Rs 600. It is worth noting that spot silver fell 1.7% to $ 19.26 per ounce, platinum declined 1.1% to $897.92, and palladium fell 0.8%
to $ 2,138.51.

Dollar index scaled a fresh two-decade peak against leading peers thus leaving bullion dearer for buyers in possession of other currencies.

Meanwhile in India the prices of silver has been maintaining a growing trend and gained 1600 in the last 6 days. This month silver prices rose by Rs 200 on September 21, gained Rs 500 on September 20, and surged by Rs 300 on September 17, 2022.

Check prices of silver in major metropolitan cities below:

Meanwhile, the prices of gold also witnessed a rise of Rs 200 today for 22 carat gold.

If you are planning to buy 10 grams of 22 carat gold, you need to pay Rs 46,000 in India. If you want to invest in 24 carat gold, you will need to pay Rs 50, 200 per 10 grams of gold.

Factors determining silver price per 1 gram in India today:
There are a number of factors that impact silver prices in India today. Among these include the international prices of the precious metal. In India silver prices largely takes cues from what is happening in the international markets.

Now we wish to state that good and silver prices move almost in tune with each other. What we mean is that when gold prices go higher, silver prices too rally. On the other hand, when silver prices go higher, gold prices to act in tune. All in all, there are many other factors that tend to influence the per gram silver rate in India.

These also include interest rate movement as also inflationary trends in the country.