Silver Rate in Visakhapatnam

The demand for silver remains high in Visakhapatnam, primarily driven by its cultural and industrial significance. The metal is often used in religious ceremonies, crafting jewellery, and various industrial applications. You can also widen your portfolio and mitigate the risk of certain economic uncertainties by investing in silver. Thus, it is essential to track the changes in silver rates in Visakhapatnam to make wise financial decisions.

Here is a quick overview of silver rates in Visakhapatnam today:

Let us look at the change in the price of silver in Visakhapatnam over the last 10 days:

*Disclaimer: The aforementioned rates are subject to change as per market conditions.

Here are some key factors that influence the price of silver in the city:

• The Bureau of Indian Standards (BIS) categorises silver grades (as per purity), which impacts prices

• Market dynamics, influenced by both global and local factors, determine silver prices

• Supply and demand dynamics

• Inflation has an impact on the price of silver

• Strengthening of the U.S. dollar leads to higher silver prices, while depreciation may cause a dip

• RBI policies, including those for buying and selling of silver bullion, impact prices

• Revisions in monetary policy influence silver rates in Visakhapatnam

• Political aggression or wars can raise inflation, increasing demand for silver and its price

• Economic stability may lead to a decrease in demand, affecting silver prices in the city

• Low inflation rates may lead to lower silver prices, as people prefer alternative investments

• Declining interest rates elsewhere can drive demand for silver, leading to an increase in prices

• Changes in taxation, including GST, affect silver prices in Visakhapatnam