Silver Prices Hit One-Month Low in Hyderabad, Dropping to Rs 97,900 per Kg Since October
Silver Prices Hit One-Month Low in Hyderabad, Dropping to Rs 97,900 per Kg Since October
Silver prices in Hyderabad dropped to a one-month low of Rs 97,900 per kilogram on Wednesday.
This is a small decline of Rs 100 from the previous day's price of Rs 98,000 and shows a steady decrease since earlier this month when prices were above Rs 1,00,000 per kilogram.
Over the past 10 days, silver prices were steady at Rs 1,01,000 per kilogram from November 20-24, before dropping by Rs 500 on November 25 and Rs 2,500 on November 26.
Wednesday's drop adds up to a total decline of Rs 3,100 over the last three days.
Looking at the month as a whole, silver was priced at Rs 1,05,000 per kilogram at the start of November.
Prices then steadily decreased, reaching Rs 99,000 by November 18, before briefly rising to Rs 1,01,000.
The current price of Rs 97,900 is the lowest since late October.
Experts attribute the decline to global factors, including reduced industrial demand and fluctuations in the international commodities market.