Silver prices in Vijayawada remained firm on January 21, tracking steady global cues and sustained demand across domestic markets.
As per the latest available data, silver in Vijayawada is priced at Rs 3,400 per 10 grams. The metal is currently trading at Rs 34,000 for 100 grams, while 1 kilogram of silver costs Rs 3,40,000.
How Vijayawada compares with other cities
Silver prices in Vijayawada are aligned with rates seen in Chennai, Coimbatore, Madurai, Hyderabad and Bhubaneswar, where the metal is trading around Rs 3,400 per 10 grams. Meanwhile, metro cities such as Mumbai, Delhi, Kolkata and Pune are witnessing slightly lower prices at about Rs 3,300 per 10 grams.
What is driving silver prices?
Silver prices are influenced by movements in international bullion markets, fluctuations in the US dollar and industrial demand from sectors such as electronics, solar energy and electric vehicles. Ongoing geopolitical uncertainty and safe-haven demand are also providing support to precious metal prices.
Outlook
Market participants will continue to monitor global economic data, central bank cues and commodity market trends for further direction. Local silver prices may vary slightly depending on taxes, transportation costs and jeweller margins.