Silver Price Update: Falling prices in the bullion market, not just gold but silver, have also brought significant relief to consumers. Sales of gold and silver are now expected to pick up rapidly in the Indian market. The wedding season, which begins with Devuthani Ekadashi, will be celebrated on November 2nd.
The falling prices could translate into a rush, which will prove to be good news for consumers. Silver prices last saw a sharp decline during the day. On October 14th, the price was recorded at ₹178,100 per kilogram.
On Tuesday evening, the price of silver was ₹141,896 per kilogram. This represents a decline of ₹36,204 in the past 15 days. If you’re considering buying silver, you should first understand some important facts to avoid any problems.
What are the silver rates?
If you’re looking to buy silver for the wedding season, this is a great opportunity. Silver prices fell on Tuesday morning, but rebounded in the evening. Silver prices rose by 0.27%, rising ₹383 to ₹1,43,750 per kilogram. The lowest price was ₹139,306 and the highest was ₹1,44,388.
On Monday, silver closed at ₹1,43,367 per ten grams, significantly lower than its all-time high. The sharp decline in silver prices was attributed to profit booking, a strong dollar, and expectations of US-China trade. Experts believe that uncertainty in the global market is the reason for the decline in gold and silver prices. Silver prices may decline further.
Get the Gold Price with a Missed Call
Customers need not worry about checking gold and silver rates. Prices are updated daily on IBJA. Customers can easily find out the gold price by giving a missed call to 8955664433.
After the missed call, you will receive the current gold and silver price information via SMS on your mobile phone. Additionally, you can check the prices on the IBJA website www.ibja.co or ibjarates.com, which will be hassle-free.