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Today Silver Rates In Chandigarh

26 Jan 2021

gold rate

₹65.39

( Per Gram )

gold rate

₹65389

1 Kg

TodayYesterdayChange(%)
1 gram65.3965.390.00%
10 gram65389653890.00%

Silver Rates In Chandigarh for Last 90 Days

26 Jan 2021

Date1 gramBar Silver 1KG
2021-01-2765.3965,389
2021-01-2665.3965,389
2021-01-2565.3965,389
2021-01-2465.3965,389
2021-01-2365.3965,389
2021-01-2265.3965,389
2021-01-2165.3965,389
2021-01-2065.3965,389
2021-01-1965.3965,389
2021-01-1865.3965,389
2021-01-1765.3665,360
2021-01-1665.3565,352
2021-01-1568.6367,628
2021-01-1467.1367,139
2021-01-1367.3467,334
2021-01-1266.4366,430
2021-01-1167.3167,302
2021-01-1067.3167,302
2021-01-0966.0566,043
2021-01-0872.1172,104
2021-01-0771.4971,496
2021-01-0673.7072,698
2021-01-0572.6271,611
2021-01-0470.5769,571
2021-01-0370.5769,571
2021-01-0270.5769,571
2021-01-0169.3469,343
2020-12-3170.9369,937
2020-12-3069.2069,198
2020-12-2970.8669,860
2020-12-2869.7868,774
2020-12-2769.5068,503
2020-12-2669.5068,503
2020-12-2569.5268,525
2020-12-2468.4968,491
2020-12-2367.2267,224
2020-12-2270.7769,769
2020-12-2169.5168,518
2020-12-2069.5168,518
2020-12-1969.5368,532
2020-12-1869.8768,867
2020-12-1766.3766,367
2020-12-1665.9764,972
2020-12-1563.4663,463
2020-12-1464.7163,709
2020-12-1364.7163,709
2020-12-1264.8263,820
2020-12-1164.7363,729
2020-12-1063.0563,043
2020-12-0966.5365,531
2020-12-0865.4865,483
2020-12-0764.4164,413
2020-12-0664.4164,413
2020-12-0564.2664,269
2020-12-0464.8663,862
2020-12-0364.8363,835
2020-12-0263.4963,490
2020-12-0160.2260,213
2020-11-3059.7158,712
2020-11-0364.3064,299
2020-11-0263.1263,117
2020-11-0164.6563,644
2020-10-3164.6163,606
2020-10-3063.6162,612
2020-10-2963.5862,582
2020-10-2865.0465,041
2020-10-2765.8964,888
2020-10-2666.5165,510
2020-10-2566.5165,510
2020-10-2465.4265,425
2020-10-2366.5865,580
2020-10-2267.5166,509
2020-10-2166.7265,722
2020-10-2064.1964,188
2020-10-1964.0063,998
2020-10-1864.0063,998
2020-10-1764.2464,245
2020-10-1664.0764,076
2020-10-1564.2364,236
2020-10-1464.9763,976
2020-10-1366.4666,459
2020-10-1266.1966,183
2020-10-1166.1966,183
2020-10-1066.9165,910
2020-10-0963.1463,138
2020-10-0863.8962,894
2020-10-0763.7662,763
2020-10-0664.2964,293
2020-10-0563.7062,702
2020-10-0463.7062,702

Historical Price of Silver Rate In Chandigarh

Trend of Silver Rate in Chandigarh for October 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
October 1st Rate64.6163,606
October 31th Rate62.0562,045
Highest October Rate67.5166,509
Lowest October Rate62.0562,045

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

Silver Rates1 gram1 Kg
November 1st Rate59.7158,712
November 30th Rate64.6563,644
Highest November Rate64.364,299
Lowest November Rate59.7158,712

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

Silver Rates1 gram1 Kg
December 1st Rate70.9369,937
December 31th Rate60.2260,213
Highest December Rate70.9369,937
Lowest December Rate60.2260,213

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

Silver Rates1 gram1 Kg
January 1st Rate65.3965,389
January 27th Rate69.3469,343
Highest January Rate73.772,698
Lowest January Rate65.3565,352

Trend of Silver Rate in Chandigarh for September 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
September 1st Rate65.6664,656
September 30th Rate75.9274,918
Highest September Rate75.9274,918
Lowest September Rate61.5860,577

Trend of Silver Rate in Chandigarh for August 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
August 1st Rate74.9073,904
August 31th Rate66.9465,935
Highest August Rate79.6678,660
Lowest August Rate66.6665,664

Trend of Silver Rate in Chandigarh for July 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 5th Rate64.6763,674
July 31th Rate49.6348,634
Highest July Rate70.9769,976
Lowest July Rate49.648,604

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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