Silver Rate Today in Nagpur (Saturday, Jul 20, 2024)

Nagpur is the third largest city in the Indian state of Maharashtra and is reportedly projected to be the fifth fastest growing city in the world from 2019 to 2035 (average growth of 8.41%). Traditionally, for the middle class and upper middle class in India, precious yellowish metal (gold) is considered the number one option in terms of a safe investment. However, now silver is gaining popularity too.

In Nagpur, the rate of this "not so precious metal" depends on the overall demand for it. A large demand for silver comes from industry. Unlike gold which is primarily used as jewelry or investment, this white metal is used for several industrial purposes.

Those who invest in silver do it in the form of jewellery, coins, and last but not least ETFs. But, remember, there are no silver ETFs offered in the country and you can buy silver ETFs in the US market.

In this city of Maharashtra, there are many silver showrooms such as Pushpalata Jewellers, Bhatukbhai Sons, Londhe Jewellers, Shree Krishna Jewellers, Kusum Jewellers, Arun Jewellers, and Parekh Bros. During weddings and festivals, the demand for this white metal shoots up and hence the price! So if you are going to buy silver, do check its rates.