Silver Price Forecast: (1st May 2023), This article is discussing the recent price movements and technical analysis of the silver, which is the currency pair for silver in US dollars. The price of silver has rebounded from sub-$25.00 levels and is currently hovering around the 100-period Simple Moving Average, which is acting as a resistance level.
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However, the overall outlook is still bullish, as the silver is comfortably holding above the 23.6% Fibonacci retracement level of the March-April rally, and technical indicators on the daily and hourly charts are showing positive momentum.
If the silver breaks above the $25.50 supply zone, it could make a fresh attempt to conquer the $26.00 round-figure mark and retest a one-year high. The next relevant hurdle would be near the $26.25-$26.30 region, and the ultimate target would be the 2022 swing high, just ahead of the $27.00 round-figure mark.
On the downside, the immediate strong support level is around the $24.50-$24.40 region, which if broken decisively, could prompt some technical selling. The subsequent downfall could take the silver below the $24.00 mark and towards the 38.2% Fibo. level at around $23.70. The corrective decline could extend further towards the $23.35-$23.30 horizontal support before reaching the $23.00 confluence, comprising the 50% Fibo. level and the 50-day SMA.
Today Silver Price Per Gram/Kg in India (INR)
| Gram | Silver Rate Today | Silver Rate Yesterday | Daily Price Change |
| 1 gram | ₹76 | ₹76.20 | ₹-0.20 |
| 8 gram | ₹608 | ₹609.60 | ₹-1.60 |
| 10 gram | ₹760 | ₹762 | ₹-2 |
| 100 gram | ₹7,600 | ₹7,620 | ₹-20 |
| 1 Kg | ₹76,000 | ₹76,200 | ₹-200 |
Indian Major Cities Silver Rates Today
| City | 10 gram | 100 gram | 1 Kg |
| Chennai | ₹802 | ₹8,020 | ₹80200.00 |
| Mumbai | ₹760 | ₹7,600 | ₹76000.00 |
| Delhi | ₹760 | ₹7,600 | ₹76000.00 |
| Kolkata | ₹760 | ₹7,600 | ₹76000.00 |
| Bangalore | ₹802 | ₹8,020 | ₹80200.00 |
| Hyderabad | ₹802 | ₹8,020 | ₹80200.00 |
| Kerala | ₹802 | ₹8,020 | ₹80200.00 |
| Pune | ₹760 | ₹7,600 | ₹76000.00 |
| Vadodara | ₹760 | ₹7,600 | ₹76000.00 |
| Ahmedabad | ₹760 | ₹7,600 | ₹76000.00 |
| Jaipur | ₹760 | ₹7,600 | ₹76000.00 |
| Lucknow | ₹760 | ₹7,600 | ₹76000.00 |
| Coimbatore | ₹802 | ₹8,020 | ₹80200.00 |
| Madurai | ₹802 | ₹8,020 | ₹80200.00 |
| Vijayawada | ₹802 | ₹8,020 | ₹80200.00 |
| Patna | ₹760 | ₹7,600 | ₹76000.00 |
| Nagpur | ₹760 | ₹7,600 | ₹76000.00 |
| Chandigarh | ₹760 | ₹7,600 | ₹76000.00 |
| Surat | ₹760 | ₹7,600 | ₹76000.00 |
| Bhubaneswar | ₹802 | ₹8,020 | ₹80200.00 |
| Mangalore | ₹802 | ₹8,020 | ₹80200.00 |
| Visakhapatnam | ₹802 | ₹8,020 | ₹80200.00 |
| Nashik | ₹760 | ₹7,600 | ₹76000.00 |
| Mysore | ₹802 | ₹8,020 | ₹80200.00 |
| Cuttack | ₹802 | ₹8,020 | ₹80200.00 |
| Davanagere | ₹802 | ₹8,020 | ₹80200.00 |
| Bellary | ₹802 | ₹8,020 | ₹80200.00 |
| Gurgaon | ₹760 | ₹7,600 | ₹76000.00 |
| Ghaziabad | ₹760 | ₹7,600 | ₹76000.00 |
| Noida | ₹760 | ₹7,600 | ₹76000.00 |
| Salem | ₹802 | ₹8,020 | ₹80200.00 |
| Vellore | ₹802 | ₹8,020 | ₹80200.00 |
| Amaravati | ₹802 | ₹8,020 | ₹80200.00 |
| Guntur | ₹802 | ₹8,020 | ₹80200.00 |
| Nellore | ₹802 | ₹8,020 | ₹80200.00 |
| Kakinada | ₹802 | ₹8,020 | ₹80200.00 |
| Tirupati | ₹802 | ₹8,020 | ₹80200.00 |
| Kadapa | ₹802 | ₹8,020 | ₹80200.00 |
| Anantapur | ₹802 | ₹8,020 | ₹80200.00 |
| Warangal | ₹802 | ₹8,020 | ₹80200.00 |
| Nizamabad | ₹802 | ₹8,020 | ₹80200.00 |
| Khammam | ₹802 | ₹8,020 | ₹80200.00 |
| Berhampur | ₹802 | ₹8,020 | ₹80200.00 |
| Rourkela | ₹802 | ₹8,020 | ₹80200.00 |
| Rajkot | ₹760 | ₹7,600 | ₹76000.00 |
| Vasai-Virar | ₹760 | ₹7,600 | ₹76000.00 |
| Aurangabad | ₹760 | ₹7,600 | ₹76000.00 |
| Solapur | ₹760 | ₹7,600 | ₹76000.00 |
| Bhiwandi | ₹760 | ₹7,600 | ₹76000.00 |
| Kolhapur | ₹760 | ₹7,600 | ₹76000.00 |
| Latur | ₹760 | ₹7,600 | ₹76000.00 |
| Tirupur | ₹802 | ₹8,020 | ₹80200.00 |
| Tirunelveli | ₹802 | ₹8,020 | ₹80200.00 |
| Trichy | ₹802 | ₹8,020 | ₹80200.00 |
| Sambalpur | ₹802 | ₹8,020 | ₹80200.00 |
| Amravati | ₹760 | ₹7,600 | ₹76000.00 |
| Erode | ₹802 | ₹8,020 | ₹80200.00 |
Silver Rate in India for Last 10 Days
| Date | 10 gram | 100 gram | 1 Kg |
| May 1, 2023 | ₹760.00 | ₹7,600.00 | ₹76000.00 ( -200 ) |
| Apr 30, 2023 | ₹762.00 | ₹7,620.00 | ₹76200.00 ( 0 ) |
| Apr 29, 2023 | ₹762.00 | ₹7,620.00 | ₹76200.00 ( 0 ) |
| Apr 28, 2023 | ₹762.00 | ₹7,620.00 | ₹76200.00 ( -300 ) |
| Apr 27, 2023 | ₹765.00 | ₹7,650.00 | ₹76500.00 ( 0 ) |
| Apr 26, 2023 | ₹765.00 | ₹7,650.00 | ₹76500.00 ( -200 ) |
| Apr 25, 2023 | ₹767.00 | ₹7,670.00 | ₹76700.00 ( 300 ) |
| Apr 24, 2023 | ₹764.00 | ₹7,640.00 | ₹76400.00 ( -500 ) |
| Apr 23, 2023 | ₹769.00 | ₹7,690.00 | ₹76900.00 ( 0 ) |
| Apr 22, 2023 | ₹769.00 | ₹7,690.00 | ₹76900.00 ( -700 ) |
