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Today Silver Rates In Jammu and kashmir

17 Jun 2021

gold rate

₹72.25

( Per Gram )

gold rate

₹72251

1 Kg

TodayYesterdayChange(%)
1 gram72.2572.68-0.60%
10 gram7225172675-0.59%

Silver Rates In Jammu and kashmir for Last 90 Days

17 Jun 2021

Date1 gramBar Silver 1KG
2021-06-1772.2572,251
2021-06-1673.6872,675
2021-06-1573.0573,054
2021-06-1473.2573,248
2021-06-1373.2573,248
2021-06-1273.3573,349
2021-06-1173.0873,079
2021-06-1073.7872,782
2021-06-0972.2972,291
2021-06-0873.8472,835
2021-06-0773.6072,603
2021-06-0673.6072,603
2021-06-0572.4972,488
2021-06-0472.8371,834
2021-06-0374.5773,568
2021-06-0273.9272,920
2021-06-0173.8372,832
2021-05-3172.4172,407
2021-05-3072.4172,407
2021-05-2972.2072,201
2021-05-2873.5472,540
2021-05-2772.0972,091
2021-05-2673.9672,960
2021-05-2572.4472,445
2021-05-2472.9871,982
2021-05-2372.9871,982
2021-05-2272.0272,019
2021-05-2173.5872,576
2021-05-2072.1572,146
2021-05-1974.8573,852
2021-05-1874.9373,935
2021-05-1772.9871,979
2021-05-1672.9871,979
2021-05-1572.8671,855
2021-05-1471.2771,272
2021-05-1372.5571,547
2021-05-1272.4972,488
2021-05-1172.8871,875
2021-05-1072.0772,069
2021-05-0972.0772,069
2021-05-0872.0472,036
2021-05-0772.0472,039
2021-05-0670.9869,984
2021-05-0570.9269,924
2021-05-0471.0871,079
2021-05-0369.7768,772
2021-05-0269.7768,772
2021-05-0169.7768,772
2021-04-3069.0569,054
2021-04-2970.9669,958
2021-04-2870.2770,266
2021-04-2770.0970,089
2021-04-2670.7369,727
2021-04-2570.7369,727
2021-04-2470.7969,785
2021-04-2370.3570,354
2021-04-2272.5771,570
2021-04-2170.7669,755
2021-04-2069.2969,293
2021-04-1969.3169,314
2021-04-1869.3369,327
2021-04-1770.5769,574
2021-04-1669.3169,314
2021-04-1568.2468,240
2021-04-1468.3368,327
2021-04-1367.5066,500
2021-04-1268.5967,589
2021-04-1168.5967,589
2021-04-1068.5267,523
2021-04-0968.0968,090
2021-04-0867.0767,073
2021-04-0766.2766,271
2021-04-0665.8264,823
2021-04-0566.6265,616
2021-04-0466.6265,616
2021-04-0366.6165,613
2021-04-0265.2565,254
2021-04-0164.9563,951
2021-03-3163.8562,850
2021-03-3064.1764,167
2021-03-2965.0465,037
2021-03-2865.0465,037
2021-03-2765.7864,780
2021-03-2665.4565,447
2021-03-2565.3365,327
2021-03-2465.1465,138
2021-03-2367.7566,750
2021-03-2268.1968,185
2021-03-2168.0968,089
2021-03-2068.0568,051

Historical Price of Silver Rate In Jammu and kashmir

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

Silver Rates1 gram1 Kg
December 20th Rate69.4469,443
December 31th Rate68.0368,034
Highest December Rate69.4469,443
Lowest December Rate67.7566,749

Introduction

The past 5 years have been remarkable for the silver market in India. Silver prices have risen considerably, making it a much attractive investment as against gold. Steep increase in gold prices has made it lose its investment sheen, turning public attention towards silver bullion. Though silver is predominantly used for jewellery & household article production, increased demand in industries has put silver on the investment radar of many individuals and investors alike.

Silver prices in India are influenced by many factors; import costs, industrial demand, festival purchases, US Dollar rate and many more factors have a direct influence on the Silver rates in India.

Overview of the Silver Market in Jammu & Kashmir

The recent economic development in Jammu & Kashmir has brought in some fresh change in the jewellery sector of this scenic tourist state. They follow some very antique methods of jewellery making. Their jewelleries are mostly made out of gold and silver, adorned with precious gems like emeralds, sapphires, agates and amethysts. The chunky, intricately designed silver jewellery from Jammu Kashmir is not only famous in India, they are sought the world over.

Srinagar, the capital city, has no dearth of jewellery stores. Akhoon Jewellers & Farco Jewellers are some famous names in the jewellery industry in this city.

Investments in the Silver Market

Silver in India is regarded as exceptionally beautiful. It is used in the manufacture of jewellery and household objects. The domestic market is growing next to gold. Most shops provide quick access to silver jewellery and other items. Silver trading and ETFs are also available for investors looking to make some fortune in the silver market.

In many industries, too, silver is a key element. It is used for the production of the most popular digital goods, including smartphones and tabs. Silver is also relevant in the manufacture of photovoltaic panels for motor cars and solar panels.

International markets in India, which seem to fluctuate similarly on a regular basis, have a significant effect on silver prices. The value of the US dollars also influences Indian rupees, which further affect silver prices.

Availability of Silver in India

India's main source of silver is imported, but in Rajasthan and Jharkhand, we have a few silver mines. Silver is extracted from the mining of lead, zinc, copper and gold ores as a by-product.

In silver production, Mexico ranks number one, followed by Peru, Australia, China, Chile and many others. Silver supply has met demand since the late 1970s which has contributed to higher silver prices. In India, with the key fulfilment of silver demand by imports, the global supply factors have great effects on its price. Processes to enhance the recovery of silver and gold during the mining process are being introduced.

Silver Jewellery in Jammu Kashmir

Silver is not that expensive, so it is considered the 'poor man's gold'. Gold and silver are very affordable and not as expensive. They have many appealing styles and are easy to make. Due to their affordability, for many of their pieces of jewellery, people choose silver.

In many households in Jammu Kashmir valley, silver is an inherited precious metal. While most of them are purchased as jewellery, puja items and household goods are also some silver products purchased by customers. Silver has shown consistent returns over the years as a trustworthy metal.

There is no shortage of jewellery shops in Jammu Kashmir valley. In almost every jewellery shop here, silver jewellery and household goods are available conveniently. In Jammu Kashmir, silver jewellery is famous for men and women. Children are adorned with silver jewels, particularly anklets, bangles and earrings.

Silver Coins and Silver Gifting Options in Jammu & Kashmir

Silver is also seen in Jammu & Kashmir as a lovely gift. Special days often occur where people send other people presents. Silver coins are one of the most common options for birthdays, weddings, house warming, festivities, company gifts, etc. The bulk of jewellery stores are selling silver and silver coins. Silver coins may also be obtained from post offices and banks, which will be licensed and verified.

Although silver coins are a preferable alternative to gold, when sold, they are not valuable. You lose money as excess costs and have plenty to spend on items you plan to purchase or exchange. So many people don't appreciate silver coins.

Jammu & Kashmir Silver Futures Market

Silver Futures is an impressive trading prospect. Jammu & Kashmir's citizens can invest through the MCX network in the Silver Futures exchange. The Indian Multi-Commodity Exchange (MCX) is a cutting-edge commodity trading environment that presents an incentive to examine and impact consumer demand.

A Futures Contract is a legal agreement selling silver at a negotiated future date. The quantity, quality, time and place of sale will be calculated in proposed contractual agreements. Future Trading agreements usually take place on the market where a group agrees to buy and sell at a certain date a set of shares or products. You have to seek a broker who is a silver fund manager.

Silver trading has many options for the future. The first thing that is relevant is the stability compared to other investments. As money generally goes the other way, your capital losses will be paid for with potential profits. You will benefit from the demand rise in silver and need not care about security and purity with product distribution. Because these futures are exchanged aggressively, liquidity is not to be taken into consideration.

The downside is that low margins are excessive and allow you to lose a lot. It's still very difficult to cope with swings in the silver future to find the opportunity to reserve gains or reduce losses.

Silver ETFs in Jammu Kashmir

Since no Silver ETFs are listed on NSEs, the other way of investing in Silver ETFs is by investing in Silver ETFs in the US market, through ICICI Direct, Kotak and HDFC's international trading accounts. Please note that RBI allows up to $200,000 in foreign investment in shares and bonds each year. However, you need to take care of the nitty gritty of taxes and foreign exchange volatility as well. This is the key reason that Indians tend to invest in Indian stock markets rather than international ones. Brokerage and investment costs are also much higher when investing in the US stock market than the Indian one.

Factors affecting Silver rates in Jammu Kashmir

Silver prices in India are primarily influenced by global silver prices. Consequently, the effect on Jammu Kashmir prices from silver prices globally and in India is instructive.

Australia, Bolivia, Kazakhstan and Mexico are concentrated in silver deposits. It will lead to a higher supply disruption of silver in the two main mines because silver is still highly vulnerable.

Supply & Demand: The equation of supply and demand for silver is one reason why the metal is so important: supply is limited but demand continues. However, the underlying economic fact is that any raise or decrease in supply or demand will adjust prices in comparison with increases themselves. For example, if a strike stops a big supplier from mining, silver prices would escalate rapidly. Also, silver will create more revenue and increase market demand as in solar panels.

Technology: In reality, new technology is beginning to replace silver in more practical applications. For example, modern varieties of aluminium alloys are acceptable replacements to costly mirrors. In certain households, the same applies to commonly used stainless steel cookware instead of traditional silver products. Nevertheless, technology usually becomes a net bullish catalyst for silver production and prices for modern photovoltaic solar cells and diverse green applications.

Global economic trend: People invest a great deal on jewellery and products of precious metals such as silver during good economic times. This is perhaps the first time that salaries have been delayed, whether they stagnate or drop. Economic and growth levels are seen in developing markets as a key indicator of this demand segment. But costly products, including watches and fine joys, are still needed even in difficult economic times. High-end trend analyses also display the global trends of economics which influence silver prices.

Indian Rupee vs US Dollars: the US dollar usually has the opposite relation with silver values, as the world's leading currency. Silver market insiders see a long dollar history in which silver prices have been under attack. Currently, with the dollar high to medium, many seasoned consumers see the dollar fall by looking for sales bargaining prices.

FAQs

1. How to check Silver Live Rate on the CreditMantri website?

You can logon to CreditMantri’s Silver Rate page to check the Jammu Kashmir Live Silver Rate and make an informed decision about your Silver Investment based on the most up to date information available. Click on Community, select Resources and then go to Silver Rate. Here, you can find the state wise silver rates for the day.

2. How can I invest in Silver ETFs?

Silver ETFs, of the US market, are available for purchase on ICICI Direct, Kotak Mahindra and HDFCs International Trading accounts.

3. What is the minimum purchase amount for silver futures on the MCX?

One can trade a minimum of 100 gms of silver on the MCX.

4. What are the timings to trade on NSEL?

You can trade on the NSEL from 10:00 AM to 11:30 PM.

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