Silver Price Today: Silver gets cheaper; check the prices in cities including Delhi, Chennai, and Mumbai..

Silver Price Today: Silver prices have come under pressure. On October 21, the price of 1 kg of silver stands at ₹211,950. Over the last two weeks, silver prices have fallen more sharply than gold prices; the price of silver has dropped from approximately ₹250,000 to around ₹210,000—a decline of about ₹40,000.

On the Multi Commodity Exchange (MCX), the futures price of silver fell by 0.84%—a decrease of ₹1,780—to reach ₹209,705 per kg in early trading. In the previous trading session, silver had closed at ₹211,485 per kg. According to bullion market data, the price of silver is ₹210,150 per kg, while in the international market, it is trading at $57.63 per ounce. Meanwhile, according to GoodReturns, the price of silver is ₹230,000 per kg. Let’s take a look at the latest silver prices in major Indian cities on October 21, according to data from GoodReturns:

City    Price of 1 kg of Silver
Delhi    ₹ 2,30,000
Mumbai    ₹ 2,30,000
Kolkata    ₹ 2,30,000
Chennai    ₹ 2,30,000
Lucknow    ₹ 2,30,000
Patna    ₹ 2,30,000
Jaipur    ₹ 2,30,000
Ahmedabad    ₹ 2,30,000
Pune    ₹ 2,30,000
Bengaluru    ₹ 2,30,000
Hyderabad    ₹ 2,30,000
Bhopal    ₹ 2,30,000
Chandigarh    ₹ 2,30,000
Noida    ₹ 2,30,000
Gurugram    ₹ 2,30,000

Experts state that silver prices have fallen to a six-month low. Compared to this year’s all-time high of ₹ 4,25,000, the price has dropped by more than ₹ 2,00,000.

Meanwhile, experts point out that the primary reason for the decline in silver prices is the downturn in the gold market. Previously, as investors turned to gold as a "safe-haven" asset, its price surged significantly. Now, however, as capital is being withdrawn from gold, silver prices are also falling. Furthermore, experts note that despite industrial demand for silver in the international market, the current price correction is largely due to the fact that previous price increases had outpaced actual demand.

What was the price of silver the previous day?

Silver prices had received support from an uptick in demand ahead of the festive season, alongside strength in global markets. The market remained closed on Tuesday due to Dussehra. On the previous trading day, Monday, the price of silver in the Delhi bullion market held steady at Rs 2.15 lakh per kilogram for the second consecutive trading session.

Meanwhile, in the international market, the spot price of silver rose by more than one percent to reach $57.63 per ounce. Silver prices also saw an upward trend in the futures market.

There was no change in the price of silver in the Delhi bullion market on Monday; it remained at Rs 2,15,000 per kilogram for the second consecutive trading session. Conversely, in the international market, the spot price of silver climbed by over one percent to $57.63 per ounce. Silver found support from strength in the global market and an improvement in the demand for precious metals during the festive season.

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