Silver rate today: Purchasing gold and silver on the occasion of Dhanteras is considered auspicious in Hinduism, as it honours Lakshmi, the Goddess of fortune and wealth. But since gold prices are hitting record highs, people can consider buying silver, whose prices have dipped significantly.
On Saturday, the price of silver per 10 grams stood at ₹1,880, down by ₹40, while that of per 100 grams was at ₹18,800, down by ₹400 and silver per 1 kilogram was priced at ₹1,88,000, down ₹4,000.
Here are today’s silver rates:
- Silver rate in Delhi: The precious metal in the national capital was priced at ₹1,880 per 10 grams, ₹18,800 per 100 grams, and ₹1,88,000 per 1 kilogram.
- Silver rate in Pune: Prices of silver in Pune were also in a downtrend. The rate of silver per 10 grams stood at ₹1,883, per 100 grams at ₹18,830, and per 1 kilogram at ₹1,88,300.
- Silver rate in Kolkata: The rates of silver took a slight dip in Kolkata, where the precious metal was priced at ₹1,927 per 10 grams, down by ₹1. Meanwhile, the price of silver per 100 grams stood at ₹19,270, down by ₹10, and per 1 kilogram, the rate was at ₹1,92,700, down by ₹100.
- Silver rate in Mumbai: Silver rates in the financial capital were recorded at ₹1,873 per 10 grams, ₹18,730 per 100 grams, and at ₹1,87,300 per 1 kilogram.
- Silver rate in Bengaluru: The price of silver in Bengaluru was also down by a small margin. per 1 kilogram stood at ₹1,95,900, down by ₹100, in Bengaluru. While silver per 100 grams was at ₹19,590, down by ₹10, and per 10 grams at ₹1,959, down by ₹1.
- Silver rate in Chennai: In Tamil Nadu’s capital, silver rates were recorded at ₹2,056 per 10 grams, down by ₹30, ₹20,560 per 100 grams, down by ₹300, and ₹2,05,600 per 1 kilogram, with a dip of ₹3,000.
- Silver rate in Hyderabad: The rates of silver per 10 grams in Hyderabad stood at ₹2,062, with a dip of ₹30. Meanwhile, silver per 100 grams was priced at ₹20,620, down by ₹300, and that of per 1 kilogram was at ₹2,06,200, down ₹3,000.
Silver, also a precious metal, is considered to be cheaper than gold. It also has a higher demand than gold in the jewellery and industrial sectors.
Silver is not just used in jewellery items; it is also used by industrial and commercial firms to manufacture several products.
The prices of silver in India are determined on the basis of various factors, including gold rates. If gold prices surge, so does silver.
Fine silver’s purity is measured at either 999.9, 999.5 or just 999. The purity grade for silver alloys, jewellery and artefacts is 970, 925, 900, 835.
Notably, silver is not used in its purest form. Jewellers use Sterling silver, which is a mix of 92.5 per cent silver and 7.5 per cent of other metals.
While Jharkhand, Gujarat and Rajasthan are some of the silver-producing states in the country, India largely depends on imports to meet its silver requirements. India gets its silver imports from China, the United Kingdom, the European Union, Australia and Dubai.