Silver Rate Today in Bangalore (Wednesday, Jul 3, 2024)

Bangalore is not only the capital but also the largest city of the Indian state of Karnataka. It has a metropolitan population of about 11 million. In India, this makes it the third most populous city and fifth most populous urban agglomeration. It is also the biggest city in South India. It is a metropolitan city that sees a thriving market for silver. Reportedly, when it comes to the consumption of this metal, the city comes second only to Chennai in Southern India. People in Bangalore consider silver mainly as an investment. It has a profitable resale value and stability to bank upon.

The rate of silver here depends heavily on international prices of commodities. Interestingly, in Bangalore, while the price of gold has increased in the past few months, silver has become an even more affordable metal. This has led to a tremendous rise in its demand.

The city has a sizable population of middle-class income groups. Mostly, people use silver here for investment purposes (especially in middle-class households). This "not so precious metal" is also being used for gifting during weddings and birthday parties. Fairer sex loves it as an anklet. Gold being clearly expensive gives silver the required edge.