Today Silver rate in Lucknow, Uttar Pradesh is Rs. 80 per 1 Gram. However, it is important to note that this is not the highest price observed for Silver in the state over the past year. Lucknow, Uttar Pradesh has been experiencing a consistent rise & fall in Silver prices over the past few months.
Recent Silver Rate Changes in Lucknow Uttar Pradesh
| Date | Silver 1 g | Bar Silver / 1 Kg |
|---|---|---|
| 30-Dec-23 | ₹ 80.09 | ₹ 80090 |
| 29-Dec-23 | ₹ 79.79 | ₹ 79790 |
| 28-Dec-23 | ₹ 81.09 | ₹ 81090 |
| 27-Dec-23 | ₹ 80.79 | ₹ 80790 |
| 26-Dec-23 | ₹ 81.09 | ₹ 81090 |
| 25-Dec-23 | ₹ 80.79 | ₹ 80790 |
| 1-Dec-23 | ₹ 82.59 | ₹ 82590 |
The silver rate in India, similar to other commodities, is determined by several elements. Firstly, the global demand and supply dynamics significantly impact the price. Silver is a precious metal widely used in industries like electronics, jewellery making, and the production of solar panels. Fluctuations in demand from these sectors affect its price on the international market, consequently influencing the rates in India.
Moreover, the global economic landscape, including geopolitical tensions, currency fluctuations, and interest rates, plays a pivotal role in determining silver prices. In times of economic uncertainty or geopolitical unrest, investors often turn to precious metals like silver as a safe-haven asset, driving up its demand and subsequently its price.
The interplay between the USD/INR exchange rate also contributes to the fluctuation of silver rates in India. Silver is globally traded in US dollars, so any changes in the USD/INR conversion rate can impact the cost of importing silver into the country, directly affecting its domestic price.
Additionally, government policies, import duties, taxes, and regulations regarding precious metals significantly influence the silver rates in India. Changes in these policies can either increase or decrease the cost of importing silver, which directly affects its retail price within the country.
Market sentiment and investor behaviour also have a significant impact on silver rates. Speculation, investor sentiment, and market trends often contribute to short-term fluctuations in silver prices, making it a volatile commodity.
Silver Rate Today (31 December 2023) in Lucknow, Uttar Pradesh
| Silver Weight | Silver Price Today | Silver Price Yesterday | Price Change |
|---|---|---|---|
| 1 Gram Silver | ₹ 80 | ₹ 80 | ₹ 0 |
| 10 Gram Silver | ₹ 800 | ₹ 800 | ₹ 0 |
| 100 Gram Silver | ₹ 8000 | ₹ 8000 | ₹ 0 |
Daily / Weekly / Monthly Silver Price Rate
Silver has been an intrinsic part of India’s cultural, economic, and traditional landscape for centuries. Beyond its shimmering allure, silver holds immense importance in various facets of Indian society. From auspicious ceremonies to intricate craftsmanship, this precious metal embodies cultural significance and investment potential. Moreover, the price variations of silver across different cities in India present a fascinating insight into the country’s diverse economic dynamics.
Disclaimer: Pricedaily.in provides Silver price data from various reliable sources, but we can’t guarantee its accuracy.