Silver Rate Forecast for today, tomorrow, week, and year

Silver Rate Forecast Today (19-11-2024)

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Previous Close: 90,620 (MCX Future)

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Silver Rate Forecast Weekly (07-10-2024 To 11-11-2024)

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Silver Rate Prediction, Silver is one of the most popular precious metals in the world, used for various purposes such as jewelry, industrial applications, investment, and trading. The price of silver depends on various factors such as demand and supply, global economic and political events, currency movements, inflation expectations, and market sentiment. In this article, we will look at the silver rate forecast for today, tomorrow, and next month as well as the next 6 months. We will also look at the silver rate forecast of some of the major Indian cities.

Silver rate forecast for today – 10 Gram Silver Price in INR

Date – 11 Oct 2024

The silver rate in India is expected to rise by -0.10% today, reaching Rs 959 per 10 grams. The predicted high and low for today are Rs 1,012 and Rs 910 per 10 grams, respectively. Today, the silver rate closed at Rs 960 per 10 grams yesterday, indicating a change of Rs -1. The silver rate forecast is based on various factors such as global market trends, currency movements, and supply-demand dynamics.

Silver Rate Forecast for Tomorrow – 10 Gram Silver in INR

Date – 12 Oct 2024

The silver rate in India is expected to fall by -0.10% tomorrow and will reach Rs 961 per 10 grams. The predicted high and low for tomorrow are Rs 1,014 and Rs 912 per 10 grams, respectively. Today the silver rate is expected to close at Rs 962 per 10 grams tomorrow, indicating a change of Rs -1. The silver rate prediction is based on various factors such as global market trends, currency movements, and supply-demand dynamics.

Next 31 days

Silver Rate Forecast October 2024 – 10 Gram Silver (INR)

The silver rate forecast shows that the price of 10 grams of silver in INR will decline gradually in the next 31 days. It will reach a low of Rs 945 on October 01. The highest silver rate target is Rs 984 on October 31, and the lowest silver rate target is Rs 926. The silver rate target will have some fluctuations, but the overall trend is downward. The average silver rate target for the entire period is Rs 931. The silver rate target is based on various factors such as global market trends, currency movements, and supply-demand dynamics.

Silver Price Forecast for 6 Months

Silver rate target – 1 Gram Silver rate (INR)

The silver price forecast shows that the price of 1 gram of silver in INR will increase steadily in the next 6 months, and will reach a high of Rs 991 in Mar 2025. The silver price prediction indicates a growth of 4.87% from the current price of Rs 945 in Oct 2024. The silver price forecast is based on various factors such as global market trends, currency movements, and supply-demand dynamics. The silver price forecast may change depending on the actual market conditions and events.

Compare Silver Rate Forecast in The Top Cities of India

The silver rate today in Mumbai is Rs. 94.90 per gram and Rs. 94,900 per kilogram. This is lower than the silver rate today in Hyderabad, which is Rs. 100.90 per gram and Rs. 1,00,900 per kilogram. The silver price today in Ahmedabad is also lower than in Hyderabad, at Rs. 94.90 per gram and Rs. 94,900 per kilogram.

Silver Rate Today Bangalore Per Gram/Kg (INR)

Bangalore has long considered silver to be a desirable metal because of its value and reputation as a wise investment. Before making an investment in metals, it is imperative to regularly monitor the Silver rate. Numerous factors, including market supply and demand as well as international ties, affect Bangalore’s silver rate. 

Silver Rate Today Delhi Per Gram/Kg (INR)

Silver has long been a desired investment for the people of Delhi. One of the factors contributing to the increased demand for the metal is the size of Delhi’s population. As a matter of fact, the city supplies a substantial portion of the silver market. Coins, silverware, cutlery, and other products are being invested in due to the current price of silver in Delhi.

Silver Rate Today Hyderabad Per Gram/Kg (INR)

There are a lot of traders who buy and sell silver in Hyderabad. They will, in reality, supply you the best silver rates available in Hyderabad. We advise sticking with your silver investments whether you’re a trader or an investor. Silver can be acquired through a number of methods. Silver can be bought and sold using the MCX or in physical form.

Silver Rate Today Mumbai Per Gram/Kg (INR)

The previous few years have seen a decline in Mumbai’s silver rates. Silver rates have been rising since the Lehman Brothers crisis broke out, and there was a long-lasting rally in 2008. But it hasn’t progressed at all in the past several years. Throughout 2016 and 2017, investors have favored buying stocks, driving them to all-time highs. However, as investors sold shares and bought gold and silver, the prices of these metals in Mumbai experienced some recovery in 2018.

Silver Rate Today Chennai Per Gram/Kg (INR)

There are various elements that impact the silver rate in Chennai. For instance, the government recently raised the gold excise tax, which ought to drive up the price of silver. When gold prices climb, rural investors can look to silver as a hedge. In reality, the price of silver has increased to almost $15 per ounce on global markets, suggesting that demand is still high.

Silver Rate Today Ahmedabad Per Gram/Kg (INR)

Gujarat is a state in India. Its major city and previous capital is Ahmedabad. However, as a more educated populace gains access to real-time data on changes in Ahmedabad’s silver prices, the attitude around silver investments is shifting. These days, silver is seen as a commodity that may be invested in. Many residents of this state are in a prime position to profit greatly from silver investments as a valued, traded metal.

Silver Rate Today Pune Per Gram/Kg (INR)

2017 has seen a surge in Pune’s silver prices, generally consistent with the performance of certain commodities. This includes the brief gold rally that occurred at the beginning of 2018. The price of silver, which determines rates, will mostly depend on global metal prices.

Silver Rate Today Kolkata Per Gram/Kg (INR)

Rates for silver typically follow changes in the price of gold. The price of silver tends to increase in tandem with the price of precious metals. Silver prices have increased over the past few months in tandem with global price gains. As a result, silver prices in Kolkata have increased somewhat. The price of silver has increased by a respectable 5–7% since the year’s beginning.

Silver Rate Today Indore Per Gram/Kg (INR)

The medium- to long-term trend for silver prices would be an increase in bullion prices in Indore. Even in uncertain financial times, this precious metal appears to be stable globally. Due to its accessibility to Indore residents who would not be able to afford gold, silver has also been referred to as the “poor man’s gold.

Silver Rate Today Coimbatore Per Gram/Kg (INR)

Known as the Manchester of Tamilnadu, Coimbatore is one of the nation’s tier-2 industrial cities with the quickest rate of growth. The state’s population views silver as auspicious, therefore Coimbatore’s fluctuating silver prices haven’t stopped locals from purchasing it. Silver is used by the locals for a variety of purposes, including jewelry, silverware, coins, bars, and commodity futures trading.

Silver Rate Today Surat Per Gram/Kg (INR)

Gujarat, an Indian state, once had Surat as its princely state and commercial center. Recent studies indicate that silver prices in Surat are relatively low, which encourages many individuals to purchase silver rather than gold. Silver is frequently used by the people of Surat as gifts or as silverware for festivals and weddings. There are currently numerous exhibitions and sales in Surat City, drawing long lines and reservations.

Today Silver Rate in Vizag Per Gram/Kg (INR)

The availability, demand, and usage of the white precious metal in a variety of applications, including coinage, jewelry, photography, industries, and silverware, all affect the price of silver in Visakhapatnam. Industry analysts point out that there are differences in the production and use patterns of gold and silver, which have an effect on the precious metal’s long-term values. If the government increases import taxes on gold, there is a sharp increase in demand for silver in Vizag.

Silver Rate Today Patna Per Gram/Kg (INR)

Bihar’s capital, Patna, is the second-biggest city in eastern India. Here, individuals purchase silver in a variety of forms, from jewelry and tableware to objects and antiques connected to Patna rituals. A significant number of people view silver as a precious metal and give silver gift items at wedding ceremonies. The higher, middle, and lower classes in Patna won’t be impacted by silver pricing because they consistently think that purchasing silver will bring them good luck. 

The silver rate today in Chennai is higher than in Mumbai and Ahmedabad, at Rs. 100.90 per gram and Rs. 1,00,900 per kilogram. The silver price today in Jaipur is the same as in Chennai, at Rs. 94.90 per gram and Rs. 94,900 per kilogram.

The silver rate today in Delhi is lower than Chennai and Jaipur, at Rs. 94.90 per gram and Rs. 94,900 per kilogram. The silver rate today Bangalore is the same as in Delhi, at Rs. 88.10 per gram and Rs. 88,100 per kilogram.

Based on these data, we can see that Hyderabad has the highest silver rate today among the top Indian cities, followed by Chennai and Jaipur. Mumbai and Ahmedabad have the lowest silver rates today, followed by Delhi and Bangalore.

Benefits of Silver Rate Forecast:

• Helps investors and traders plan strategies based on expected silver price movements.
• Assists consumers and sellers in budgeting and negotiating deals for silver items.
• Aids industries use silver as a raw material to optimize production and supply chain.
• Supports the research on silver market trends and their relation to various factors.

Challenges of Silver Rate Prediction:

• Difficulty in predicting exact silver prices due to dynamic factors like demand, supply, global trends, and more.
• Susceptible to errors and biases from differing assumptions, data, models, and algorithms.
• Not a guarantee or recommendation; actual silver prices may vary due to unforeseen circumstances.

Demand supply and price of Silver

Silver is traded in the stock market in the form of coins, bullion, futures, options, exchange-traded funds (ETFs), and mining stocks. The price of silver depends on various factors, such as supply and demand, market sentiment, geopolitical events, currency fluctuations, and more. The main factor is the rate calculation, which is based on the weight of silver in troy ounces. One troy ounce is equal to 31.103 grams. The price of silver is determined by several major international banks, which are used by the London bullion market members for trading that day. The prices are then displayed in different currencies, such as USD, EUR, and GBP.

The demand for silver remains stable because of its unique properties and diverse applications. Silver is used for various purposes, such as jewelry, window coatings, photography, mirrors, stained glass, and specialized confectionery. It also plays an enduring role in most human cultures as a symbol of status and wealth. In medicine, silver is used in wound dressings that act as an antibiotic coating in medical devices. In industries, silver is demanded in bulk to manufacture electronic and electrical devices, such as conductors and cavity filters. It is also a raw material that is used in creating an alloy for making ceramic capacitors and other components.

The supply and demand dynamics of the silver market determine the price of silver in the stock market. The supply of silver consists of three main sources: mine production, scrap supply, and net hedging. The demand for silver consists of four main categories: industrial fabrication, jewelry and silverware, coin and bar investment, and net physical demand.

Change in silver rate since last 3 years

The silver rate in India has been on a rollercoaster ride since 2020. It has reached record highs in 2021 and 2022, before cooling down in 2023.

Starting from Rs.42,500 per kg in 2020, the silver rate plunged to Rs.37,825 per kg in March due to the COVID-19 pandemic. However, it recovered in the second half of the year, reaching Rs.63,435 per kg in December.

The silver rate continued to rise in 2021 and reached a record high of Rs.76,900 per kg in August. This was due to strong demand from investors and industrial users, as well as a weaker Indian rupee against the US dollar.

The silver rate remained elevated in 2022 and averaged around Rs.62,500 per kg. However, it started to cool down in the second half of the year due to rising interest rates in the US and a stronger Indian rupee against the US dollar.

The silver rate continued to cool down in 2023 and reached Rs.74,500 per kg on October 10, 2023. This is still significantly higher than the silver rate at the beginning of 2020. The silver rate in India has increased by over 70% since 2020. This is a significant increase, and it has made silver a popular investment for many Indians.

How does rate fluctuation affect the market?

Silver rate fluctuation affects the stock market in various ways, depending on the type and direction of the fluctuation.

Some of the factors that affect silver prices are the U.S. dollar exchange rate, the festivals and wedding season in India, black marketing and speculation, and industrial demand.

Silver rate fluctuation affects the performance of companies that use silver in their products or manufacturing processes, such as electronics, photography, jewelry, coins, etc. If the price of silver goes up, the cost of doing business for these companies can increase, which can lower their profits and stock prices.

Silver rate fluctuation affects the sentiment and behavior of investors who buy and sell silver as a hedge against inflation, currency devaluation, or market uncertainty. If the price of silver goes up, investors may feel more confident and optimistic about the market, which can boost their demand for stocks.

Conclusion

In conclusion, understanding the dynamics and intricacies that influence silver prices is crucial for making well-informed financial decisions. The forecasts provided in this article offer valuable insights into expected silver price movements for today, tomorrow, the coming month, and the next six months.

FAQs – Silver Rate Forecast