Silver price on January 8: Check latest rates in Delhi, Mumbai, Chennai, Kolkata and other cities

Silver price on January 8: The changes in the value of currencies, particularly the US dollar, relative to other currencies can affect the attractiveness of silver as an investment.

Silver price on January 8: The prices of silver rebounded by Rs 1,200 to Rs 92,600 per kg in major Indian cities on Wednesday (January 8), mainly due to a weak rupee and some pick-up in demand from industrial users.

The white metal traded above $30 an ounce in global markets, which also bolstered its prices in local markets. Spot Silver was up 0.14 per cent to $30.10 an ounce in early Asian trade. The metal moved between $30.01 an ounce and $30.15 an ounce in early trade.

Silver price today in major metro cities:

Delhi- Rs 92,600 per kg

Mumbai- Rs 92,600 per kg

Chennai- Rs 100,100 per kg

Silver price on January 7 was Rs 101600.0 per kg and last week’s silver price on January 2 was Rs 1,00,600.0 per kg. 

Kolkata- Rs 92,600 per kg

Bengaluru- Rs 94,700.0 per kg 
Silver price on January 7 was Rs 93500.0 per kg and last week’s silver price on January 2 was Rs 92500.0 per kg. 

Hyderabad

Silver prices today in Hyderabad is Rs 103400.0 per kg. The silver price on January 7 was Rs 1,02,200.0 per kg, and last week’s silver price on January 2 was Rs 101200.0 per kg

Visakhapatnam

Silver Prices today in Visakhapatnam is Rs 1,01,800.0 per kg. The silver price on January 7 was Rs 1,00,600.0 per kg, and last week’s silver price on January 2 was Rs 99,600.0/Kg. 

What are the factors which affect 'Silver prices'? 

• The price of silver constantly fluctuates due to various factors, i.e, both domestic as well as international. 
• Global Demand: The overall demand for gold and silver worldwide plays a significant role in price changes.
• Currency Fluctuations: Changes in the value of currencies, particularly the US dollar, relative to other currencies can affect the attractiveness of gold and silver as investments.
• Interest Rates: Higher interest rates can make gold and silver less attractive as investments as they offer no interest income.
• Government rules/regulations: Government policies and regulations related to the gold and silver trade can impact prices.
• World Events: Economic conditions, geopolitical events, and other global factors can influence the demand for and price of precious metals.
• Insights from Jewellers: Jewellers, as experts in the precious metals industry, can provide valuable insights into market trends and potential price movements.