Silver Rate Today (May 22, 2024): Prices Across Major Indian Cities

On Wednesday, there was a noticeable hike in silver rates across India. In Delhi, the current rate for 1kg of silver is ₹₹ 95800. Meanwhile, on the MCX, silver contracts for June delivery rose by ₹1,200, settling at ₹ 95,800 per 1kg. The increase in silver prices indicates high investor interest amidst global economic uncertainties and fluctuating currency values, which is driving demand for this valuable metal.

Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.

Check silver rates in different cities on 22nd May 2024

City	10 grams	1 Kg
Delhi	₹ 958	₹ 95800
Mumbai	₹ 958	₹ 95800
Kolkata	₹ 958	₹ 95800
Chennai	₹ 1,003	₹ 100300
Bengaluru	₹ 955	₹ 95500
Hyderabad	₹ 1,003	₹ 100300
Ahmedabad	₹ 958	₹ 95800
Pune	₹ 958	₹ 95800
Surat	₹ 958	₹ 95800
Nagpur	₹ 958	₹ 95800
Kerala	₹ 1,003	₹ 100300
Vijayawada	₹ 1,003	₹ 100300

The COMEX silver price stands at $31.925 per ounce, reflecting a decline of $0.148 (-0.460%) from the previous value. This data indicates a downward trend in silver prices within the commodity market.Such fluctuations are influenced by various factors including global economic conditions, demand for precious metals in industrial and investment sectors, geopolitical tensions, and currency movements. Silver, valued for its conductivity, reflectivity, and role as a hedge against inflation, holds significance in industries ranging from electronics to jewelry. Observing market trends and understanding the dynamics impacting silver prices is crucial for investors and stakeholders alike.

Silver rates experience daily fluctuations influenced by various short- and long-term factors, including shifts in supply and demand, economic indicators, geopolitical developments, currency movements, and investor sentiment. Effective monitoring and analysis of pricing data are crucial for investors and traders to make informed decisions in the dynamic precious metals market. While these insights aid in navigating the silver market, investors are advised to conduct their due diligence before investing.

As the day progresses, remaining vigilant and closely monitoring silver rates for emerging trends or market developments is encouraged. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.

For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India.

Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.