Silver Prices Slip ₹50 to ₹2,400 per 10 Grams in India
Silver prices in India took a hit on Monday morning, dipping ₹50 to ₹2,400 per 10 grams nationwide. This marks a decline from Friday's rate of ₹2,450 per 10 grams, effectively translating to ₹240 per gram and ₹2,40,000 per kilogram.
The silver price in India is largely influenced by international prices, which can cause the 10-gram rate to fluctuate throughout the day. Local demand and supply play a relatively minor role in shifting city-level rates. Rates remain subject to revision as trading progresses.
A total of ten major Indian cities tracked saw a uniform decline, with each shedding ₹50 over the period. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara, and Ahmedabad eased to ₹2,400 per 10 grams from ₹2,450, while Chennai, Hyderabad, and Kerala slipped to ₹2,450 per 10 grams from ₹2,500.
Retail buyers have continued to view silver as a lower-cost entry point into precious metals due to its significantly smaller per-gram price compared to gold. Investors looking for exposure to the metal without storage or purity checks can consider Silver ETFs, which track the metal's price rather than requiring physical delivery.