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Today Silver Rates In Jharkhand

21 Oct 2020

gold rate

₹65.15

( Per Gram )

gold rate

₹65147

1 Kg

TodayYesterdayChange(%)
1 gram65.1563.632.33%
10 gram65147636272.33%

Silver Rates In Jharkhand for Last 90 Days

21 Oct 2020

Date1 gramBar Silver 1KG
2020-10-2165.1565,147
2020-10-2064.6363,627
2020-10-1963.4463,438
2020-10-1863.4463,438
2020-10-1764.6863,683
2020-10-1664.5163,516
2020-10-1564.6763,674
2020-10-1463.4163,416
2020-10-1366.8865,878
2020-10-1266.6165,604
2020-10-1166.6165,604
2020-10-1065.3365,333
2020-10-0963.5862,586
2020-10-0862.3462,344
2020-10-0762.2162,214
2020-10-0664.7363,731
2020-10-0562.1562,153
2020-10-0462.1562,153
2020-10-0362.4862,484
2020-10-0263.7762,775
2020-10-0162.5161,502
2020-09-3064.1364,135
2020-09-2962.3962,394
2020-09-2860.3460,338
2020-09-2760.3460,338
2020-09-2661.7960,784
2020-09-2560.4760,467
2020-09-2460.0560,047
2020-09-2364.2764,266
2020-09-2266.6865,677
2020-09-2171.5370,528
2020-09-2070.4570,452
2020-09-1970.4570,452
2020-09-1871.0471,039
2020-09-1771.0271,023
2020-09-1672.7171,703
2020-09-1572.7371,726
2020-09-1471.7070,702
2020-09-1370.2770,272
2020-09-1270.2770,272
2020-09-1170.2570,248
2020-09-1071.9470,944
2020-09-0970.2870,276
2020-09-0871.5170,511
2020-09-0771.9770,968
2020-09-0671.5070,496
2020-09-0571.5070,496
2020-09-0470.4770,471
2020-09-0372.1772,169
2020-09-0273.4473,445
2020-09-0174.2674,263
2020-08-3173.2673,257
2020-08-3072.9471,937
2020-08-2972.9471,937
2020-08-2872.7271,722
2020-08-2772.1072,095
2020-08-2670.1970,187
2020-08-2571.0171,008
2020-08-2471.0971,092
2020-08-2372.7471,741
2020-08-2272.7471,741
2020-08-2173.2773,268
2020-08-2072.2672,259
2020-08-1974.8773,877
2020-08-1874.4474,439
2020-08-1770.6569,655
2020-08-1671.7870,777
2020-08-1571.7870,777
2020-08-1473.3573,348
2020-08-1369.0769,076
2020-08-1266.6365,625
2020-08-1178.9077,901
2020-08-1076.8675,857
2020-08-0976.9175,911
2020-08-0876.9175,911
2020-08-0778.9777,972
2020-08-0672.0972,088
2020-08-0570.6169,611
2020-08-0465.2365,231
2020-08-0365.0965,090
2020-08-0265.3665,358
2020-08-0165.3665,358
2020-07-3163.1163,117
2020-07-3065.7764,769
2020-07-2965.2765,267
2020-07-2869.3669,363
2020-07-2761.4261,418
2020-07-2661.8360,830
2020-07-2561.8360,830
2020-07-2460.4960,492

Silver Rate in Jharkhand

Jharkhand is among the largest importer of silver in the world and accounts for up to 20 % of the worlds silver import. Just as gold is a popularly traded commodity in Jharkhand, silver also enjoys popularity as an investment option. The silver rate in Jharkhand is affected by the global demand and supply scenario. It is valued as a precious metal and compared to gold, it is more abundant. Silver has numerous uses, in the electronics as well as electronics industry.

Historical Price of Silver Rate In Jharkhand

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

Silver Rates1 gram1 Kg
October 1st Rate65.1565,147
October 21th Rate62.5161,502
Highest October Rate66.8865,878
Lowest October Rate62.5161,502

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

Silver Rates1 gram1 Kg
September 1st Rate64.1364,135
September 30th Rate74.2674,263
Highest September Rate74.2674,263
Lowest September Rate60.0560,047

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

Silver Rates1 gram1 Kg
August 1st Rate73.2673,257
August 31th Rate65.3665,358
Highest August Rate78.9777,972
Lowest August Rate65.0965,090

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

Silver Rates1 gram1 Kg
July 1st Rate63.1163,117
July 31th Rate49.1849,181
Highest July Rate69.3669,363
Lowest July Rate48.9647,962

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

Silver Rates1 gram1 Kg
June 1st Rate48.2448,235
June 30th Rate49.8048,798
Highest June Rate49.2549,242
Lowest June Rate47.0447,036

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

Silver Rates1 gram1 Kg
May 1st Rate48.2448,233
May 31th Rate40.4640,458
Highest May Rate48.2448,233
Lowest May Rate40.3640,360

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

Silver Rates1 gram1 Kg
April 24th Rate41.1541,149
April 30th Rate41.2941,294
Highest April Rate42.6741,670
Lowest April Rate41.0441,044

How to invest in Silver

The major advantage of investing in silver is its affordable price. Unlike gold, which is expensive and requires large amounts of money as investment, smaller silver coins can be bought for as little as a few hundred rupees. Keep in mind though that each investment option in precious metals and other commodities has its pros and cons. The most traditional channel of investing in silver is buying silver coins, jewelry and silver household items. Silver can most commonly be purchased in the form of coins, bars, and jewelry. Below are some of the ways in which you can invest in silver:

Silver jewelry and household objects

If you plan to buy silver jewelry or silver items for the house like utensils, prayer lamps, keep in mind that you have to pay for making charges as well. The more intricately designed silver jewelry costs more, making it far more expensive than buying coins. Silver jewelry attracts a melting charge of 15 per cent or more at the point of resale, which lowers effective returns, if you plan to sell your silver jewelry at a later point. Hence, you would have to forgo some of the invested amount in the form of wastage/making charges and melting charges.

Buying any form of physical silver comes with the problem of storage, as the volume of metal bought is much more than that of gold for the price paid. If you are buying for purely investment purposes, might have to also pay for storage facilities like a bank locker in order to keep your silver secure.

How to buy silver coins in Jharkhand

Silver and gold coins are extremely popular in Jharkhand as a gift on auspicious occasions. Silver coins also make for a good investment choice since they are available in different weights, which gives investors the freedom to choose according to their budget. A number of jewelers and banks sell certified and assayed silver coins. Silver coins are available online as well, although it can be risky to buy from anyone other than a certified jeweler/seller. Make sure to get a purity certificate along with your silver purchase.

You can choose to purchase silver coins from a jewelry showroom or from banks, although purchasing coins from the latter might prove to be slightly more expensive, as they include charges for damage-proof packing and a purity assay certificate. For example, , a 50 gm coin of 24 carat purity from a bank would cost more compared to buying the same coin from a jewelry showroom. Jewelers would also apply a casting charge as well as sales tax.

How to buy silver bars

The most important thing to keep in mind while buying any kind of silver is to check the live silver market rate market rates. Silver bars can be purchased from banks and big jewelers, as they are typically kept for serious investors. These bars typically range from 500 gm to 1kg.

Futures exchange

Buying silver in the futures exchange market is one of the options for a serious investor, but the contract sizes are significantly larger than some other commodities, like gold..

There are also several charges associated with trading in the futures market. These could be in the form of brokerage, stamp duty and various other charges that you would have to bear.

Silver ETF

There is no silver ETF (Exchange Traded Fund) in Jharkhand at the present moment with the closure of the National Spot Exchange. However, there is an option for trading in Silver ETFs listed in the US market. Investors looking to trade in the silver ETFs listed on the US market need to open an account with a stock broker who offers a platform for investing in international stock markets.

How to buy silver

There are a few things to be kept in mind before buying silver. It is very important to first watch the price movements of silver carefully over a period of time and check live silver rates before deciding to invest. There are a multitude of options available in the market and buying silver can be a viable investment option. Keep the following points in mind before making your purchase.

Research silver rates

Silver prices, while relatively stable, still require monitoring if it is for the purpose of investment. It is important to observe market trends and stay in tune with the latest price movements. This will help you make the best and most informed decision on when to buy or sell. You can use CreditMantri’s silver rate page to check live silver rates in Jharkhand and make data-driven decisions on your silver investments based on the most up-to-date information.

Decide what kind of silver you want to buy

Silver, like gold, comes in various forms like bars, coins, and jewelry. Each form offers its own unique advantages and disadvantages. If your intention is to sell the silver at a later date, then jewelry might not be the most optimal option and you could consider other forms of silver investment like coins or bars. Decide on what form your investment will take so you have a clear idea of the pros and cons.

Ensure certification

In Jharkhand, the Bureau of Indian Standards (BIS) introduced hallmarking of silver in 2005. There are several grades of silver purity with 9999 being of the maximum fineness. The silver and silver alloys are stamped with standard marks by the BIS- recognised Assaying and Hallmarking Centres. The silver will carry 5 markings including

  1. BIS mark
  2. Purity/fineness
  3. Assay centre’s identification mark
  4. Year of marking
  5. Jeweler’s/manufacturer’s identification mark

Online purchase

There are a number of online silver sellers today. While it may be convenient to buy online, you need to be very careful about buying only from trusted certified sellers as there is vast scope for adulteration of silver and cheating.

How to sell silver

In Jharkhand, silver is always in demand, making it a highly liquid asset. Selling silver is not difficult, as most jewelers and pawn shops are willing to buy silver at current prices. But keep in mind that intricately designed silver jewelry might fetch lower prices than expected, as jewelers do not pay for the design but only for the weight of the precious metal. Some jewelers might pay lower than the market price, so be sure to get at least a couple of quotes by visiting different jewelry showrooms before making a decision. You need to make sure that you are aware of current market prices and trends so that you get the best possible price. Make sure to weigh the silver with a reputed jeweler before selling, in order to avoid getting duped. It is always a good idea to sell silver coins or bars rather than silver jewelry as they tend to attract better rates from jewelers as compared to jewelry.

How much is silver worth

Silver is one of those precious metals which will always be in demand, because of its industrial as well as ornamental use. However, it is impossible to predict the price of silver and whether it will continue to appreciate as an asset or not. As with all other commodities, silver prices are also subject to fluctuation and it is important in order to watch market trends before making any kind of investment.

Factors affecting silver price in Jharkhand

Like gold, the price of silver fluctuates based on the relation between supply and demand as well as other larger economic factors. The price of silver reached a peak some years ago between around 2008-2012 but has stabilised since then. Following are a few factors that contribute to the price of silver in Jharkhand:

Industrial demand

Unlike its yellow counterpart, industrial demands make up most of the worldwide demand for silver. Silver is used in every day gadgets like cell phones, touch screens, televisions as well as solar panels, RIFD chips for tracking global shipments and parcels, and nuclear reactors where its use cannot be replaced by any other metal. The medical industry also accounts for silver demand. These factors continue to drive demand for the metal and impact the price of silver.

Investment demand

The price of gold is determined largely by its investment demand. Although the same cannot be said for silver, many investors see it as a long term investment, due to increasing demand and depleting resources. This has made it an attractive metal to invest in and has led investors to stock this precious metal.

Import costs:

Jharkhand does not have substantial natural deposits of silver and meets a huge proportion of its silver needs through imports. This means that import rates affect the price of silver within the country. Since trading takes place in US dollars, a stronger dollar makes buying silver more expensive in Jharkhand.

Disclaimer: The information on the prices of silver rate is merely indicative and is susceptible to change with market value and is provided on an as-is basis. The information contained here is not intended as investment advice. CreditMantri is in no way responsible for any loss arising from the use of data contained in this website.

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