Silver price in Madhya Pradesh Today

Silver price of Madhya Pradesh - The culture, heritage of Madhya Pradesh is a combination of various religions, communities, and castes, which is a true reflection of Indian heritage and culture. Many ethnic tribes reside in this state, and they are mentioned in epics like Ramayana and Vedas. The tribal, like the Bhils, Gonds, and Oraons, are well known; among these clannish people, the Gonds are predominant. The socio-cultural activities and lifestyle of the people of this region have a distinct trait of tribal tradition. The people of Madhya Pradesh have a sweet tooth and delicacies like cashew barfi, jilabi and kusli are part of their daily meal. During the wedding and festive seasons, the Madhya Pradesh silver rate today increases.

Current rate of silver

Silver price Madhya Pradesh is INR 571 per10 gram. Rate of 1 kg silver in Madhya Pradesh costs INR 57,100. The consumption of silver is increasing due to its industrial application. Gold and silver account for about 10% of the commodity import of India. The demand of this white metal has outplayed its supply, due to growing industrial demand. The factors influencing the price of silver are various, and the movement of price is in the upswing from the start of this current year.

Factors affecting the price of silver

Aaj ka chandi ka bhav Madhya Pradesh ka

The demand-supply structure is the principal reason that affects the silver rate of Madhya Pradesh or aaj ka Chandi ka bhav Madhya Pradesh or Madhya Pradesh Chandi ka bhav. An increase or decrease in demand-supply chain proportionately affects the price of silver. Heavy buying or selling by high net worth investors also influences the cost. Legendary investor Warren Buffet bought 130 million troy ounces of silver in 1997 at $4.50 per ounce. Crude oil price also affects the price of this noble metal. Silver mining is a comprehensive process, and the oil price change directly influences the rate of silver. As massive industrialization is ongoing in India, the demand for this white metal is rising constantly affecting the aaj ka chandi ka bhav Madhya Pradesh or aaj ka chandi ka bhav Madhya Pradesh ka. As silver is imported in India, any change in import duty changes the price of this commodity. A hike in import duty escalates the price of silver all through the country. Check Gold Price in Madhya Pradesh