Silver Price: Silver prices in India have been continuously increasing for the last three days. On Thursday, November 27, silver was seen trading at Rs 1,730 per 10 grams, which shows an increase of Rs 40 per 10 grams compared to the day before. Similarly, in the last three days, the price of silver has increased by Rs 60 per 10 grams, Rs 1,000 per 100 grams and Rs 10,000 per kilogram.
Why is the price of silver increasing?
There are many reasons for the increase in the price of silver. For one thing, the possibility of a rate cut by the US Federal Reserve in December has increased the demand for safe-haven assets among investors. Silver prices are increasing due to high industrial demand. Ajay Kedia, President of Kedia Commodities, says, silver is used in everything from solar panels to electric vehicles and electronics. Due to increasing demand for silver in these sectors, its price is increasing.
What is the price today?
As far as today is concerned, today also on 28th November there has been a slight increase in the price of silver. Today the price of silver is Rs 1,73,100 per kg, which is Rs 100 more than yesterday. Today, in many cities like Mumbai, Delhi, Kolkata, Bengaluru, Pune, Patna, Nagpur, Chandigarh and Surat, silver is being sold at the rate of Rs 1,731 per 10 grams and Rs 1,73,100 per kg. Whereas in Chennai, Hyderabad, Kerala, Vijayawada, Coimbatore, Madurai and Bhubaneswar, today the price of 10 grams and 100 grams of silver is Rs 1,801 and Rs 1,80,100 respectively.
silver production in india
Silver production in India is not on a scale that can meet domestic needs, hence India imports silver on a large scale. India imports silver from countries like China, United Kingdom, European Union, Australia and Dubai. China’s share in India’s imported silver is more than 50 percent. Earlier the biggest import center of silver in India was Mumbai, but now Ahmedabad and Jaipur are also in this list. As far as production is concerned, India is at 20th position in the world in this list. Rajasthan, Gujarat and Jharkhand are three states of India where silver is produced.
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