Silver rate today on Oct 14: Prices surge to record Rs 1,85,100/kg as London supply crunch fuels rally - Check silver rate in Chennai, Jaipur and Delhi - Full list

City Wise Silver Rate on October 14

Silver rate today on Oct 14: Silver prices soared to an all-time high as supply crunch in London fueled rally. As per a Bloomberg report, spot rates rose as much as 0.4% to $52.5868 an ounce in London. This breached the January 1980 record on a now-defunct contract overseen by the Chicago Board of Trade. Back home in India, silver rates per kg witnessed an uptick of Rs 100 in comparison with Monday’s rates. Here are the October 14 data as per Goodreturns

Goldman Sachs analysts say silver market “is less liquid and roughly nine times smaller than gold’s, amplifying price moves.” In a note published by Bloomberg, Goldman analysts further said, “Without a central bank bid to anchor silver prices, even a temporary pullback in investment flows could trigger a disproportionate correction, as it would also unwind the London tightness that drove much of the recent rally.”

Indian investors have traditionally favoured gold and silver and festive demand has also sparked price surge at home. With Dhanteras on Saturday, silver market is expected to see a record purchases. As per Hindu tradition, buying gold and silver on Dhanteras is considered auspicious.

Here is city-wise list of silver rate across India as per Goodreturns data