India, Oct. 18 -- Purchasing gold and silver on the occasion of Dhanteras is considered auspicious in Hinduism, as it honours Lakshmi, the Goddess of fortune and wealth. But since gold prices are hitting record highs, people can consider buying silver, whose prices have dipped significantly.

On Saturday, the price of silver per 10 grams stood at Rs.1,880, down by Rs.40, while that of per 100 grams was at Rs.18,800, down by Rs.400 and silver per 1 kilogram was priced at Rs.1,88,000, down Rs.4,000.

Silver, also a precious metal, is considered to be cheaper than gold. It also has a higher demand than gold in the jewellery and industrial sectors.

Silver is not just used in jewellery items; it is also used by industrial and commercial firms...