Silver price on January 8. In India the silver prices recovered by Rs 1200 to reach Rs 92600 per kg on January 8 across some major Indian cities due to a weakened rupee and slight increase in industrial demand.

Current market silver rates for metropolitan areas:

Delhi- Rs 92,600 for every kg

Mumbai- Rs 92,600 for every kg

Chennai- Rs 100,100 for every kg

On the 7th of January the silver rate was recorded at 101600.0 INR for every kg and the price for the preceding week which was January 02 was set to 1,00,600.0 INR for every kg.

Kolkata- Rs 92,600 for every kg

Bengaluru- Rs 94,700.0 for every kg

On the 7th of January silver price was estimated at Rs 93500.0 per kg, And in comparison the price for the past week January second was approximated at Rs 92500.0.

Hyderabad:

The current approximate silver rate for Hyderabad stands at Rs 1,03400.0 for each kg, The price observed earlier on the 7th of January was Rs 1,02200.0 and the price set for last week was 101200.0.

Visakhapatnam:

The price for silver in Visakhapatnam today is estimated at Rs 1,01800.0 per kg, earlier on 7th of January the price was Rs 1,00600.0 and the price quoted last week was set at 99600.0.

Which variables have an impact on the fluctuation of ‘silver prices’?

Since silver as a commodity is greatly dominantly on trade between international countries the price is highly variable due to country based factors

Global Demand: The total amount of gold silver and placed an order around the world is one of the huge accumulators of price change.

Exchange Rate Risks: Movements in the exchange rates especially in the US dollar can alter the preferences for silver and gold.

Cost of Debt: The attractiveness of gold and silver as an investment vehicle will diminish since one does not earn interest when these two assets are held.

Rules and Regulations: The government policies and regulations regulating gold and silver dealings have some bearings on their prices.

Global Markets: Economic and political situations among others can affect the price and the demand of the precious metals.

Market Information: Market trend analysis and price forecasting can be gained through experts like jewellers who deal with the precious metal and provide gold insights.