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Today Silver Rates In Chandigarh

31 Jul 2021

gold rate

₹68.15

( Per Gram )

gold rate

₹68155

1 Kg

TodayYesterdayChange(%)
1 gram68.1568.56-0.60%
10 gram6815568568-0.61%

Silver Rates In Chandigarh for Last 90 Days

31 Jul 2021

Date1 gramBar Silver 1KG
2021-07-3168.1568,155
2021-07-3069.5668,568
2021-07-2967.9366,931
2021-07-2867.5066,504
2021-07-2768.6767,668
2021-07-2668.6167,608
2021-07-2568.6167,608
2021-07-2468.6667,655
2021-07-2368.2268,227
2021-07-2268.8967,888
2021-07-2167.0267,028
2021-07-2068.7667,760
2021-07-1969.1169,110
2021-07-1869.1269,115
2021-07-1769.1469,134
2021-07-1671.8170,811
2021-07-1570.4370,430
2021-07-1470.9669,965
2021-07-1371.5170,506
2021-07-1270.1470,136
2021-07-1170.1470,136
2021-07-1070.3570,345
2021-07-0970.9369,933
2021-07-0871.6170,612
2021-07-0771.5070,496
2021-07-0671.9470,944
2021-07-0571.0971,097
2021-07-0471.0971,097
2021-07-0371.1371,131
2021-07-0270.0470,048
2021-07-0170.0170,010
2021-06-3069.1369,131
2021-06-2970.9669,968
2021-06-2870.9169,909
2021-06-2770.8769,874
2021-06-2670.6969,697
2021-06-2570.5469,545
2021-06-2469.4069,398
2021-06-2369.2369,226
2021-06-2270.5569,551
2021-06-1969.2269,218
2021-06-1870.5769,575
2021-06-1773.7672,765
2021-06-1673.2073,192
2021-06-1574.5773,573
2021-06-1474.7773,769
2021-06-1374.7773,769
2021-06-1274.8773,871
2021-06-1174.6073,599
2021-06-1073.3073,299
2021-06-0973.8072,805
2021-06-0873.3673,353
2021-06-0773.1273,119
2021-06-0673.1273,119
2021-06-0573.0173,003
2021-06-0472.3472,345
2021-06-0374.0974,091
2021-06-0273.4473,438
2021-06-0173.3573,350
2021-05-3173.9272,922
2021-05-3073.9272,922
2021-05-2973.7172,714
2021-05-2873.0673,056
2021-05-2773.6072,604
2021-05-2673.4873,479
2021-05-2573.9672,960
2021-05-2472.4972,494
2021-05-2372.4972,494
2021-05-2273.5372,531
2021-05-2173.1073,092
2021-05-2073.6672,659
2021-05-1974.3874,377
2021-05-1874.4674,461
2021-05-1772.4972,491
2021-05-1672.4972,491
2021-05-1572.3772,366
2021-05-1472.7871,779
2021-05-1372.0672,056
2021-05-1273.0173,003
2021-05-1172.3972,386
2021-05-1073.5872,581
2021-05-0973.5872,581
2021-05-0873.5572,548
2021-05-0773.5572,551
2021-05-0670.4870,482
2021-05-0570.4270,421
2021-05-0472.5971,584
2021-05-0369.2669,261
2021-05-0269.2669,261
2021-05-0169.2669,261

Historical Price of Silver Rate In Chandigarh

Trend of Silver Rate in Chandigarh for February 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate71.8370,830
February 28th Rate65.3965,389
Highest February Rate76.2176,205
Lowest February Rate65.3965,389

Trend of Silver Rate in Chandigarh for March 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate63.3063,297
March 31th Rate71.8370,830
Highest March Rate71.8770,869
Lowest March Rate63.363,297

Trend of Silver Rate in Chandigarh for April 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate70.8569,857
April 30th Rate64.4064,406
Highest April Rate72.0872,079
Lowest April Rate64.464,406

Trend of Silver Rate in Chandigarh for May 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate73.9272,922
May 31th Rate69.2669,261
Highest May Rate74.4674,461
Lowest May Rate69.2669,261

Trend of Silver Rate in Chandigarh for June 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
June 1st Rate69.1369,131
June 30th Rate73.3573,350
Highest June Rate74.0974,091
Lowest June Rate69.1369,131

Trend of Silver Rate in Chandigarh for July 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 1st Rate68.1568,155
July 31th Rate70.0170,010
Highest July Rate71.1371,131
Lowest July Rate67.566,504

Introduction

Silver and gold are the most popular among all precious metals. Silver along with gold has multiple uses besides being used for ornamental purposes. These purposes include industrial uses, commercial uses as well as medical purposes in certain cases.

Silver rates are ever changing and fluctuating based upon a variety of factors and the best way to make a timely purchase of silver is to track the rates and observe the trend of the silver prices. This ensures that buyers and sellers get the best price for the metal.

Silver rates in Chandigarh like all other places are also very dynamic and the details regarding the same are highlighted below.

Factors affecting Silver Prices in Chandigarh

The factors affecting silver prices are multiple. These factors affect the silver rates directly or indirectly. They are also known as internal or external factors and traders are therefore required to keep a track of all such factors in order to trade in silver effectively and maximize their profits. Some of such factors are mentioned below.

Individual or Personal  Demand

Demand for any product is the essential factor in determining its prices. In case of silver too, its demand is the crucial factor along with its supply in the union territory of Chandigarh. The individual or personal demand for silver is considered in all its forms like coins, bars, household items and jewellery.

Industrial or Commercial Demand

The industrial or commercial demand for silver is referred in the bulk quantities. Silver as mentioned above, can be used for personal as well as industrial or commercial or medical purposes.

Supply of Silver in market

Supply of silver along with the demand for the product is the basic dynamics of determining the prices of this product. If the supply is too much in comparison to the demand, prices reduce and vice versa.

Gold Prices

Silver and Gold are heavily traded in the commodity market. Gold prices influence the prices for silver and usually pull them in a similar trend.

Inflation

Inflation of a country influences the silver prices and is directly proportional to the same. Customers have to track the inflation of the country on a regular basis in order to get the best rates to invest or purchase for personal reasons.

Mining Cost

The mining cost of silver is the intrinsic cost that affects the silver rates across the country. It is directly proportional to the silver rates.

Ancillary Costs

Imports costs and storage or warehousing costs are considered as the ancillary costs affecting the final pricing of this precious metal. Although ancillary, such costs are also directly proportional to the silver prices and dependent on the demand for silver. This demand will be considered in both the forms i.e., individual market demand as well as the industrial or commercial or medicinal demand for silver.

External or unrelated factors

Such factors are not directly related to the metal in any way but are nevertheless crucial in determining the prices for silver. Some of these factors are mentioned below.

  • Dollar Fluctuations
  • Government Policies
  • Geo-political scenario
  • Import and Export Policies
  • Crude Prices

Silver as Investment

Silver is an excellent mode of investment. Silver can be traded on the Exchange Traded Funds (ETF). These platforms are not available in our country and hence customers can trade on such platforms available in the US. They will first have to register with a recognized stock broker.

Another mode of trading silver is through the futures market and the commodity market. Silver is traded here in lot sizes of 1 kg each.

Silver that is purchased in the form of coins or bars or bullions from authorized dealers or even from banks is the best form of investment as customers can get maximum returns upon resale. Value of silver in such form is not reduced on account of marking charges or on account of any other metals or stones embedded in it.

Factors to be Considered while Purchasing Silver

There are several factors to be considered while purchasing silver. Such factors are relevant as they ensure that the customers get the best price for the silver purchased as well as the purity desired by them. Some of these factors are mentioned below.

  • Form in which silver is purchased
  • Purpose of purchasing silver whether for personal use or investment purposes
  • Quantity of silver to be purchased
  • Source of purchasing silver
  • Certification of silver
  • Daily prices of silver
  • Purity of silver

FAQs – Silver Rate in Chandigarh

1. What are some of the external factors that affect the prices of silver in Chandigarh?

Some of the external factors that affect the prices of silver in Chandigarh are highlighted below.

  • Geo-political scenarios
  • Dollar fluctuations
  • Government policies
  • Import and Export policies
  • Increase in Crude Oil prices
  • Gold prices
  • Inflation

2. What are the various grades of silver purity available to customers?

Silver is available in many grades of purity. These grades are based on the highest and lowest levels of purity and are shown as a percentage. The highest level of purity of silver is 99.9%. The various grades of silver purity are tabled below.

Grade 

Fineness

9999

999.9

9995

999.5

999

999.0

990

990.0

970

970.0

925

925.0

900

900.0

835

835.0

800

800.0

3. Where can a person purchase silver?

There are many sources of purchasing and selling silver. These sources have to be authentic and certified in order to ensure that the customers get the best quality of metal for the price they pay and such metal is also duly certified. Given below are the many trusted and authentic sources of purchasing and selling silver.

  • Certified jewelers
  • Banks
  • Private dealers
  • Authorized sellers
  • Certified E-Commerce Portals

4. What are the markings that are necessary on silver that is purchased or sold in any form?

Silver has to be duly marked and certified so as to ensure that the customers get the best prices for their silver and the metal is of the correct purity as desired by them. Such markings include the following,

  • BIS (Bureau of Indian Standards) Mark
  • Year of Marking
  • Assay Centre’s identification mark
  • Jeweler’s / Manufacturer’s Identification Symbol
  • Purity Grade Indicator

5. How to ensure that silver is pure?

Silver purity can be determined through many tests. These tests are very simple and do not require any excessive measures. Some of these tests can be as follows Magnet test Buyer has to run a magnet over the silver to be tested. If the silver is attracted to the magnet, such metal is not pure and has some other metal or alloy in it. Stink test Silver does not have any odor. If the silver to be tested has some odor then such metal is not considered to be pure. Ice test Another test is the ice test which requires the buyer to place a cube on the silver to be tested. If the ice cube melts at a higher or a faster pace, then such metal is pure.

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