Today's Gold and Silver Price in India July 6, 2023

Gold and Silver Price Today in India As of the current date, 2023-07-06, let's take a look at the gold and silver prices in India. The prices of these precious metals are influenced by various factors, including international market trends, demand and supply dynamics, interest rates, and inflationary trends.

Today's Gold and Silver Price in India July 6, 2023

Gold Prices in India:

KaratPrice per 10 grams (in Rs)

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999 Fine Silver:

TypePrice per kilogram (in Rs)
Rs 71,300.00-
925 Sterling Silver65,953.00
900 Coin Silver64,170.00
800 German Silver57,040.00

Please note that these prices are subject to change and may vary depending on the market conditions. It is always advisable to check the latest prices before making any investment or purchase decisions.

To buy gold or silver in India, you can visit authorized banks or jewelers. Banks offer silver coins, but they may be more expensive due to additional charges such as tamper-proof packing and an assay certificate. Purchasing silver as jewelry may also incur higher costs, including making charges and melting charges at the time of resale.

Alternatively, you can consider trading or investing in silver through various platforms. The National Spot Exchange (NSEL) provides E-series products like E-Gold and E-Silver, allowing people to trade or invest in silver electronically. Another option is to invest in silver exchange-traded funds (ETFs) listed in the US market. To trade in NSEL or invest in silver ETFs, you would need to open a separate demat account with a depository and follow the necessary procedures.

It's important to remember that investing in precious metals and trading in futures markets involve risks. It is recommended to do thorough research and consult with financial experts before making any investment decisions.

Keep in mind that the information provided here is based on the latest available data and market conditions at the time of writing. Prices may fluctuate, so it's always a good idea to refer to reliable sources or consult professionals for up-to-date and personalized advice.

Factors Affecting Silver Prices:

Various factors influence the price of silver in India. One significant factor is the correlation with international markets. When gold prices rise, silver prices tend to rally as well. Conversely, when silver prices increase, gold prices tend to follow suit. Other factors that impact silver prices include interest rate movements and inflation trends within the country 

Trading in Silver:

The National Spot Exchange (NSEL) offers E-series products like E-Gold and E-Silver, allowing people to trade or invest in silver similar to equities. Investors can buy a minimum of 1 unit of silver, equivalent to 100 grams, in dematerialized form at real-time Indian prices. To trade in NSEL, investors need to open a separate demat account with any of the depositories listed on the NSEL website. E-Silver units can be converted into physical silver or cash by trading on NSEL 

Silver ETF:

While India does not have a silver ETF, an alternative is to invest in silver ETFs listed in theUS market. To invest in these ETFs, one must first open an account with a stockbroker that offers a platform to invest in global stock markets. Investors can regularly buy and sell silver contracts, but it's essential to be cautious as futures trading carries risks.