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Today Silver Rates In Chhattisgarh

27 Jan 2021

gold rate

₹63.03

( Per Gram )

gold rate

₹63025

1 Kg

TodayYesterdayChange(%)
1 gram63.0363.030.00%
10 gram63025630250.00%

Silver Rates In Chhattisgarh for Last 90 Days

27 Jan 2021

Date1 gramBar Silver 1KG
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
2020-12-3067.7066,695
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
2020-12-1663.6262,623
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
2020-12-0562.9461,945
2020-12-0462.5561,553
2020-12-0362.5261,527
2020-12-0261.1961,195
2020-12-0158.0458,036
2020-11-3057.5956,590
2020-11-0362.9861,975
2020-11-0261.8360,835
2020-11-0161.3561,343
2020-10-3161.3161,306
2020-10-3060.3560,348
2020-10-2960.3260,319
2020-10-2863.6962,690
2020-10-2763.5462,542
2020-10-2663.1463,141
2020-10-2563.1463,141
2020-10-2463.0663,060
2020-10-2363.2163,209
2020-10-2264.1164,105
2020-10-2163.3563,346
2020-10-2062.8761,868
2020-10-1962.6961,684
2020-10-1862.6961,684
2020-10-1762.9261,922
2020-10-1662.7661,760
2020-10-1562.9161,913
2020-10-1462.6661,663
2020-10-1364.0664,056
2020-10-1264.7963,790
2020-10-1164.7963,790
2020-10-1064.5263,527
2020-10-0961.8560,856
2020-10-0861.6260,621
2020-10-0760.4960,494
2020-10-0662.9761,969
2020-10-0560.4460,435
2020-10-0460.4460,435

Historical Price of Silver Rate In Chhattisgarh

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

Silver Rates1 gram1 Kg
October 1st Rate61.3161,306
October 31th Rate60.8059,802
Highest October Rate64.1164,105
Lowest October Rate60.859,802

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

Silver Rates1 gram1 Kg
November 1st Rate57.5956,590
November 30th Rate61.3561,343
Highest November Rate62.9861,975
Lowest November Rate57.5956,590

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

Silver Rates1 gram1 Kg
January 1st Rate63.0363,025
January 27th Rate67.8366,836
Highest January Rate70.0770,070
Lowest January Rate63.9962,990

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

Silver Rates1 gram1 Kg
September 1st Rate62.3262,318
September 30th Rate72.2172,210
Highest September Rate72.2172,210
Lowest September Rate58.3958,387

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

Silver Rates1 gram1 Kg
August 1st Rate71.2371,232
August 31th Rate64.5563,551
Highest August Rate76.8175,816
Lowest August Rate63.2963,290

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

Silver Rates1 gram1 Kg
July 5th Rate61.3761,372
July 31th Rate47.8846,876
Highest July Rate67.4467,446
Lowest July Rate47.8546,847

Introduction

Silver and gold are precious metals that have found a place in our society since the earliest of times. Silver and gold have found a place in the Indian culture as an important gift source and play a key role in traditional ceremonies and rituals. Moreover, it is used not only for personal uses but also for medical and industrial uses as well.

Silver being a versatile metal is therefore huge in demand. The supply of silver is higher as compared to gold and hence, the prices of silver are also quite reasonable as compared to that of gold. These reasons coupled with many more make it a very attractive investment option along with being used for personal reasons.

Given below are the details related to the prices of silver in the state of Chhattisgarh.

How to invest in silver?

Silver is also a very good mode of investment and can be traded in the market. The most profitable form of silver as an investment is silver coins and silver bars and bullions. Investors can get maximum returns when silver is invested in the said form. It will ensure that there is no reduction in the value of silver due to any marking cost or due to any metal or stones imbibed in it.

The other form of investment in silver is trading in markets like the ETF or the Exchange Trade Funds but this market is not available in India. Customers can still trade on these markets by registering with the ETF that is available in the US market. Other platforms of trading in solver are the futures market and the commodity market.

Silver is traded in the MCX and NCDEX in lot sizes or contract sizes of 1 kg bars. These contracts are in the nature of spot contracts. Delivery of the contracts cannot be done on immediate basis.

Factors Affecting Silver Prices in Chhattisgarh

Silver prices are affected by a multitude of factors. These factors are either internal or external i.e. which have a direct impact on the silver rates or are not directly related to silver but do impact them.

Some of these factors are discussed below.

  • Internal Factors

Personal  Demand

The most crucial part to determine prices of any product is its demand. For silver too, its demand and supply function is the deciding factor in determining the prices of silver. Personal demand for silver has to be accounted in all its forms like coins, bars, household items and jewellery.

Industrial or Commercial Demand

Silver is a versatile metal and has multiple uses. For industrial or commercial purposes, silver demand is in the bulk quantities.

Supply of Silver in market

Supply of silver is part of the demand supply forces deciding its prices. If the demand for silver is more as compared to supply, then the prices of silver will increase, and if the supply for silver is greater than demand, the prices will decrease.

Ancillary Costs

Mining cost, imports costs and storage or warehousing costs are considered as the associated 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. Such demand has to be considered in cumulative form namely, individual market demand as well as the industrial or commercial or medicinal demand for silver.

  • External factors

Gold Prices

Gold prices influence the prices for silver in the trading markets. If the gold prices are on the rise, silver prices usually follow the trend vice versa.

Inflation

Inflation of a country has quite an impact on the silver prices. It is in direct relation to the silver prices. This inflation of any country has to be tracked on a regular basis to get the current prices and the price trend of this metal.

Other External factors

Other external factors are factors that may not be directly related to the metal prices in any way but do impact the silver prices. Some of these factors are mentioned below.

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

The latest external factor to affect the silver prices is the current pandemic and the introduction of a vaccine for the same.

How to identify the purity of silver?

Purity levels of silver are one of the considerations in determining the prices of silver. Silver purity is shown in terms of percentage. If silver is mixed with any other alloy or metal it is not considered to be pure. The highest purity grade of silver is 99.9%. The different grades of purity of silver are mentioned 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

FAQs – Silver Rates in Chhattisgarh

1. What are the various markings to look for while purchasing silver?

Silver has many markings that assure the buyer and the seller about the purity of the metal and the genuineness of the purchase. Such markings are available through all the trusted sources. Given below are the details of such markings.

  • Jeweler’s or manufacturer’s mark
  • The purity or fineness of the commodity
  • The year of marking
  • BIS Mark (Bureau of Indian Standards) used to hallmarking silver since 2005
  • Assay centre’s identification mark

2. Which sources are considered to be trusted and authentic for purchase of silver?

Silver can be purchased or sold through many sources. But customers have to be vigilant that such sources are genuine and authentic so as to ensure that they get the best prices for the metal and the metal purchased is of the correct purity and grade that the customer pays for. Following are the trusted and genuine sources of purchasing or selling silver.

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

3. Is form of silver an important consideration while purchasing the metal?

Yes. The form of silver is a very relevant consideration along with the purpose of purchase. If silver is being purchased for personal use, the form does not matter as much and can be either jewellery or coins or household items. If such purchase is for investment reasons, the best form of silver is coins, bars or bullions. It gives maximum returns upon resale without any unnecessary reduction in its value.

4. Are there any tests to check the purity of silver at the time of sale or purchase?

Yes. Customers can perform many tests to check the purity of silver. Some of the most common tests are the ice test, magnet test or the stink test.

5. What was the highest price of silver in the month of November 2020?

The highest price of silver till date in the month of November 2020 is Rs. 71,000.00 per kg of silver.

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