Todays Silver Price India: White Metal Price Falls By Rs 6300 In 1 Week, Should You Invest?

The price of silver has been falling in India since October 8, 2022. White metal price remained unchanged on October 9 only. The price of 1kg Silver has fallen by Rs 6300 in just 1 week beginning from October 8 to October 15. Today the price of 1 kg silver declined by Rs 2000, its sharpest decline since October 6, 2022. If you are planning to buy 1 kg of silver in India today, you need to pay Rs 55,300.

Factors Impacting Silver Price In India
There are several factors that unleash their impact on the prices of the white metal in India. The global price of precious metal remains the most important factor. Silver prices in India mostly take cures from what is transpiring in the global markets. It is worth noting that gold and silver prices move in tune with each other.

In other words, if gold prices increase, silver prices will also jump and vice-versa. There are other factors that may also impact silver prices in India that may include interest rate movement and inflationary conditions in the country.

Should You Invest In Silver?
It is ideal to invest in silver when the price goes down. Presently the prices of 1 kg silver in India have witnessed a sharp decline of Rs 6300 in just 1 week. Therefore, it is good opportunity to buy the white metal at a reduced price.

According to Angel One, "it is also a safe-haven asset that can protect your portfolio during uncertainty."

You can buy into silver futures in India, which are slightly riskier than buying physical silver. They are risky because you get more exposure and a slight variation in the silver prices in India, could result in a grave loss for investors.

If you are looking to buy into silver the better option would be to buy the physical quantity and just hold onto the same. Buying and selling silver is important because than you can make a profit on the metal. However, you can keep holding the precious metal for a longer time, just in case you wish to. The longer you hold the better are the chances of making money on the same.

Silver futures can be bought and sold in the same manner, you buy and sell gold. You need to open an account with a broking firm and thereafter you can buy and sell the metal. You may also approach a broker and then buy through the MCX, which is the commodity exchange in the country. However, there are a few formalities that you need to undergo and then finish the application. It is appropriate to buy and sell the same through registered brokers in India.

Silver Price In Major Cities In India Today

City	1kg
Chennai	Rs 60,500
Mumbai	Rs 55,300
Delhi	Rs 55,300
Kolkata	Rs 55,300
Bangalore	Rs 55,300
Hyderabad	Rs 60,500
Kerala	Rs 60,500