Silver Price Today: Silver prices have shifted; rates are highest in Chennai..

Silver Price Today: As the new trading week begins, the domestic price of silver remains at ₹255 per gram (i.e., ₹2.55 lakh per kilogram). While silver prices have risen following a decline in September, the market overall continues to be influenced by US interest rates, the dollar, crude oil prices, and geopolitical factors. Nevertheless, the recent surge has been significant. In major markets such as Delhi, Mumbai, and Kolkata, the price of silver stands at ₹2.55 lakh per kilogram.

At the beginning of September, the price of silver was stable at ₹2.45 lakh per kilogram; it subsequently rose to ₹2.50 lakh and then to ₹2.55 lakh. This represents a 4.1% increase in the price of silver over the nine days following September 11. On the international front, the price of silver futures stood at $66.78 per ounce on September 18.

Silver Rates in Major Cities (Including Delhi and Mumbai) Today

According to GoodReturns, silver prices in major cities across the country are hovering in the range of ₹2,54,900 to ₹2,59,900 per kilogram. Minor variations may be observed in some cities due to local market conditions and tax differences.

City         Price of 1 kg of Silver
Delhi               ₹2,54,900
Mumbai           ₹2,54,900
Kolkata          ₹2,54,900
Chennai        ₹2,59,900
Lucknow       ₹2,54,900
Patna              ₹2,54,900
Jaipur                ₹2,54,900
Ahmedabad    ₹2,54,900
Pune                ₹2,54,900
Bengaluru    ₹2,54,900
Hyderabad    ₹2,54,900
Bhopal           ₹2,54,900
Chandigarh    ₹2,54,900
Noida            ₹2,54,900
Gurugram     ₹2,54,900

Should you buy silver in India today or wait?

Buyers who need silver immediately should calculate the total 'landed cost' (total purchase cost) rather than focusing solely on the price of ₹255 per gram. Those looking to build a portfolio might consider buying in installments, as silver prices can fluctuate significantly over short periods.

According to a September report, the price of silver has already risen from ₹2.45 lakh to ₹2.55 lakh per kilogram. While postponing a purchase in hopes of a price drop might allow for entry at a lower rate, there is no guarantee that this will happen. Furthermore, it is important to remember that the investment appeal of silver will also depend on projections regarding its industrial demand.

Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.