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Today Silver Rates In Andhra pradesh

05 Mar 2021

gold rate

₹63.82

( Per Gram )

gold rate

₹63823

1 Kg

TodayYesterdayChange(%)
1 gram63.8266.71-4.53%
10 gram6382366706-4.52%

Silver Rates In Andhra pradesh for Last 90 Days

05 Mar 2021

Date1 gramBar Silver 1KG
2021-03-0564.8263,823
2021-03-0467.7166,706
2021-03-0368.3168,307
2021-03-0268.5467,539
2021-03-0168.2768,269
2021-02-2868.2768,269
2021-02-2768.8967,891
2021-02-2670.8469,841
2021-02-2570.0870,086
2021-02-2469.3469,335
2021-02-2371.5770,569
2021-02-2269.7968,796
2021-02-2169.7968,794
2021-02-2069.7368,721
2021-02-1969.0769,064
2021-02-1869.0769,064
2021-02-1769.0769,064
2021-02-1669.0769,064
2021-02-1569.0769,064
2021-02-1469.0769,064
2021-02-1369.8768,866
2021-02-1268.1768,177
2021-02-1169.5368,529
2021-02-1069.0569,049
2021-02-0970.5569,548
2021-02-0868.1368,131
2021-02-0768.0868,080
2021-02-0668.0868,073
2021-02-0567.7166,708
2021-02-0468.7567,760
2021-02-0367.3467,337
2021-02-0273.4573,450
2021-02-0163.0363,025
2021-01-3163.0363,025
2021-01-3063.0363,025
2021-01-2963.0363,025
2021-01-2863.0363,025
2021-01-2763.0363,025
2021-01-2663.0363,025
2021-01-2563.0363,025
2021-01-2463.0363,025
2021-01-2363.0363,025
2021-01-2263.0363,025
2021-01-2163.0363,025
2021-01-2063.0363,025
2021-01-1963.0363,025
2021-01-1863.0363,025
2021-01-1763.0062,997
2021-01-1663.9962,990
2021-01-1565.1865,183
2021-01-1465.7164,712
2021-01-1365.9064,900
2021-01-1264.0364,028
2021-01-1165.8764,869
2021-01-1065.8764,869
2021-01-0964.6463,637
2021-01-0870.5069,497
2021-01-0769.9168,911
2021-01-0670.0770,070
2021-01-0569.0369,022
2021-01-0467.0667,056
2021-01-0367.0667,056
2021-01-0267.0667,056
2021-01-0167.8366,836
2020-12-3167.4167,408
2020-12-3067.7066,696
2020-12-2967.3467,335
2020-12-2866.2966,287
2020-12-2766.0366,026
2020-12-2666.0366,026
2020-12-2566.0566,047
2020-12-2466.0266,014
2020-12-2365.7964,793
2020-12-2267.2567,246
2020-12-2166.0466,041
2020-12-2066.0466,041
2020-12-1966.0666,054
2020-12-1866.3866,377
2020-12-1764.9763,967
2020-12-1663.6562,645
2020-12-1561.1661,169
2020-12-1461.4161,406
2020-12-1361.4161,406
2020-12-1262.5161,512
2020-12-1161.4361,425
2020-12-1061.7760,764
2020-12-0963.1663,162
2020-12-0863.1163,116
2020-12-0762.0962,084
2020-12-0662.0962,084

Historical Price of Silver Rate In Andhra pradesh

Trend of Silver Rate in Andhra pradesh for November 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
November 30th Rate57.5956,590
November 30th Rate57.5956,590
Highest November Rate57.5956,590
Lowest November Rate57.5956,590

Trend of Silver Rate in Andhra pradesh for December 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
December 1st Rate67.4167,408
December 31th Rate58.0458,036
Highest December Rate67.4167,408
Lowest December Rate58.0458,036

Trend of Silver Rate in Andhra pradesh for March 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate64.8263,823
March 5th Rate44.3444,341
Highest March Rate68.3168,307
Lowest March Rate31.2731,263

Trend of Silver Rate in Andhra pradesh for February 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate68.2768,269
February 28th Rate44.3444,341
Highest February Rate73.4573,450
Lowest February Rate44.3444,341

Trend of Silver Rate in Andhra pradesh for January 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
January 9th Rate63.0363,025
January 31th Rate44.3444,341
Highest January Rate70.0770,070
Lowest January Rate44.3444,341

Trend of Silver Rate in Andhra pradesh for April 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate37.1737,172
April 2nd Rate37.9736,975
Highest April Rate37.1737,172
Lowest April Rate37.9736,975

Introduction

Silver is considered very auspicious in India. It is widely used for making jewellery and divine puja articles for households. It comes next to gold in domestic demand. Silver is easily available in various outlets. Investments in silver are also made through silver coins, silver bullion bars, Future Exchanges and Silver ETFs (in the US Market).

The bullion market has seen considerable growth, in spite of the current economic slug in India and around the world. Bullions are always considered to be good investments that offer wealth appreciation.

The majority of the silver produced in India is a by-product of zinc mining in northern India. In addition to domestic mine production, silver in India is also extracted from the processing of imported materials, such as copper concentrate, lead-zinc concentrates and doré, at India's numerous gold refineries.

How to buy and invest in silver in India?

There are different ways to invest in silver. Though the majority of consumption is in the form of jewellery and household antiquities, consumers are slowly opening up to Silver ETFs and Futures Exchange. Silver has time and again proved its credibility in the futures market, earning steady gains to its investors.

Buy Silver Jewellery and Household Objects

There is no dearth of jewellery shops in Andhra Pradesh. Silver jewellery and household objects are commonly sold in almost all jewellery shops here. Silver jewellery is very commonly worn by both women and men in India. Children are especially adorned with silver jewellery like anklets, bracelets and earrings.

Silver is not very expensive and hence called ‘The poor man’s gold’. So, silver jewellery are quite affordable and not as expensive as gold or platinum jewellery. They are easy to design and hence come in many attractive designs. Owing to their affordability, people prefer silver for many of their jewellery items.

The disadvantage of buying silver jewellery is the high making charges and very low resale rate for your old silver items. This results in considerable loss when you want to sell or exchange your old silver jewellery or items.

Invest in Silver Coins

Silver is also considered a very good gifting item. Indians are very particular about gifting for special occasions in one’s life. Be it a birthday, wedding, housewarming ceremony, festivals, corporate gifting and many more, silver coins are one of the most sought out gifting options for any of the above instances. Silver coins are also easily available, just like silver jewellery or other items. It can be bought at any of the jewellery stores. Certified and assayed silver coins can also be bought from post offices and banks.

Though Silver Coins are an attractive gift option, they too are not beneficial when you go to resell them or convert them into jewellery. A certain amount shall be deducted as wastage and you have to pay making charges on the items you want to purchase. So, silver coins are not a very attractive investment option for many.

Silver Futures Exchange

A Silver Futures is a legally binding agreement that agrees for delivery of silver at a pre-agreed upon price in the future. A futures exchange agreement is drawn on the quantity, quality, time, and place of delivery, only the price is variable. Futures contracts typically trade on an exchange, where one party agrees to buy a given quantity of securities or a commodity, and take delivery on a certain date.

Silver Futures are traded on the MCX. India's first listed exchange, The Multi Commodity Exchange of India Limited (MCX), is a state-of-the-art exchange of commodity derivatives that facilitates online trading of exchanges of commodity derivatives, providing a forum for market discovery and risk management.

Silver ETFs

There aren’t any Silver ETF schemes in India. Investors can opt for Silver ETFs listed on the US Market. They will require a broking account for international stock markets or take the assistance of stock brokers dealing in International Stock Markets.

Overview of Silver Investments in India

The silver market is very different from the gold market in India. With regards to gold, where demand mainly comes from jewellery demand and investment demand, demand and supply economy for silver are slightly different. Almost 85% of the silver supply is from silver mines. The 15% balance comes from scrap recycling, which is a big source of silver.

Silver has significant industrial uses and it can be extracted from them once these goods outlive their usefulness. On the demand side, there is an equal separation between applications for jewellery and industrial applications. For example, silver is commonly used in industries such as electrical devices, electronic components, photographic applications, solar cells and for soldering purposes.

As we have seen before, the price of silver in India is influenced by the global price of silver. It is therefore instructive to consider the effects of silver prices globally and in India.

Silver reserves are clustered in countries such as Australia, Bolivia, Mexico and Kazakhstan. As a result, supply shortages in either of these main mines may have the effect of driving up silver prices, as silver appears to be very vulnerable to market disruptions.

On the demand side, global inflation, higher supply and new manufacturing plants will drive up prices due to a surge in demand. This is attributed much to the fact that the market for silver already exceeds availability.

Lastly, the spot price of silver also has an influence on the trading bets on silver. If sellers are too long on the stock, they help to develop a price limit, whereas too much of the net shorts on the stock tend to create a floor for the price of silver.

Points to Remember while Buying Silver

Once you have decided to buy silver or invest in silver, it is prudent to spend some time in researching the market. It will help you learn about the recent price trend of Silver to make an informed decision. Since the silver rate is highly volatile, one needs to keep a close watch to invest on the right day. Here are some pointers to help you make a decision while investing in silver;

Study the general pattern of silver prices: Silver prices need constant check, though they are largely resilient to market fluctuations. You should keep tracking it if they are for investment purposes. This will help you make the right and most educated decision whether to buy or sell. You can use the CreditMantri Silver Rate page to check the Andhra Pradesh Live Silver Rate and make data-driven decisions about your Silver Investment based on the most up-to - date information available.

Consider exactly what sort of silver you want to acquire; Silver, like gold, comes in various types, like bars, coins, and jewellery. Every type does have its own distinct merits and disadvantages. If your intention is to sell the silver at a later date, then jewellery may not be the best option and you might consider other forms of silver investment, such as coins or bars. Decide on what sort of investment you are trying to take, so that you have a clearer idea of the pluses and minuses.

Certification Check: The Bureau of Indian Standards (BIS) launched silver markings in 2005. There are several grades of silver purity, 9999 being of the highest fineness. The silver and silver alloys are stamped with the regular markings of the BIS-Recognized Testing and Hallmarking Centres. Silver bears 5 marks, including

  • BIS mark
  • Purity/fineness
  • Assay centre’s identification mark
  • Year of marking
  • Jeweller’s/manufacturer’s identification mark

Online Purchase Options: There are a number of online retailers currently selling silver of varying purities. Although it can be easy to purchase online, you need to be very careful about purchasing only from trusted licenced vendors as there is significant scope for adulteration of silver and fraud.

FAQs

1. What are the options for investment in silver, in India?

In India, investors can buy or invest in silver through jewellery, silver coins, silver antique items, Silver Futures trading, and Silver ETFs of the US market.

2. What are the disadvantages of investing in silver jewellery?

The major disadvantage of purchasing silver jewellery is that a considerable amount of money is wasted when you exchange or resell the silver jewellery items. Also, you have to pay making charges and wastage for the new items you are going to purchase.

3. Where can I keep track of the daily silver rates in Andhra Pradesh?

You can logon to CreditMantri’s Silver Rate page to check the Andhra Pradesh Live Silver Rate and make an informed decision about your Silver Investment based on the most up-to - date information available.

4. Where do you invest in Silver Futures?

Silver Futures are traded on the exchange, just like the stock market. MCX is the official trading exchange for Silver Futures.

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