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Today’s silver rate across all major cities in India
23 Jan 2021
( Per Gram )
Silver Rates In Karnataka for Last 90 Days
Trend of Silver Rate in Karnataka for November 2019 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Karnataka for December 2019 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Karnataka for January 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Karnataka for April 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Karnataka for March 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Karnataka for February 2020 (Rates per gram for 1Gram / 1Kg Silver)
Silver and gold are traditionally considered to be among the most precious metals for ages. Even in ancient India, gold and silver were considered to be an integral part of not only the rituals but also as part of a status symbol. Even today silver and gold are considered to be a great status symbol in our society. Moreover, silver and gold along with other precious stones are considered as a great investment opportunity other than the money market or stocks.
Purchase of silver can be done for personal use as well as for investment purposes. Silver that is purchased for personal use is often in smaller quantities as compared to that for investment purposes. Silver as an investment option is further attractive due to the fact that it can be purchased in larger quantities on account of its price being lower than that of gold. Although the storage cost in such cases is considerably higher. The details related to the silver rates in the state of Karnataka are mentioned hereunder.
Silver prices also depend on the purity level of the metal. The higher the purity of this precious metal, the higher its price. There are many ways to mark and determine the purity of the silver. Also, the seller's place many marks on the silver sold in order to ascertain the purity and the genuineness of the metal sold. This ensures the buyers of the authenticity and purity of the silver purchased and safeguards their interest.
One of the easiest ways to ascertain the purity of silver is the ice test. Customers have to simply place an ice cube on the silver to perform this test. If the ice melts at a faster pace, the silver is genuine and the purity is also of high grade.
Silver can be available in many purity forms like 999 level, 9999 level and more. The highest purity level that can be associated with silver is 9999.
The various types of markings that can be placed on silver when it is sold in order to ensure the authenticity of the purchase and the purity of the metal are mentioned below.
The prices of silver in our country change on a daily basis as it is influenced by many factors. The current price levels of silver in the state of Karnataka are mentioned below.
Daily Silver Rates in Karnataka
Silver Rate – 10 Gram (Rs.)
Silver Rate – 100 Gram (Rs.)
Silver Rate – 1 KG (Rs.)
31st Oct 2020
30th Oct 2020
29th Oct 2020
28th Oct 2020
27th Oct 2020
26th Oct 2020
25th Oct 2020
24th Oct 2020
23rd Oct 2020
22nd Oct 2020
21st Oct 2020
20th Oct 2020
19th Oct 2020
18th Oct 2020
17th Oct 2020
16th Oct 2020
15th Oct 2020
14th Oct 2020
The highest price of silver in the month of October was Rs. 63,800 per kg on 12th October, 2020 and the lowest price for silver in this month was Rs. 60,200 per kg as on 7th of October, 2020.
The overall or the aggregate performance of silver in the month showed an upward trend and closed at a final price of Rs. 61,000 per kg as on the last day of the month of October 2020.
There are various points to be considered while purchasing silver in the state of Karnataka. Some of these factors are mentioned below.
Purpose of purchasing Silver
The purpose of purchasing silver is one of the main considerations while getting this metal. When silver is purchased for personal use, it is generally in smaller quantities. When silver is purchased for investment purposes, it is generally in bulk. The form of silver is also determined by the purpose of its purchase. Silver purchased for investment purposes is generally in the form of coins or bars and bullions as they ensure the maximum resale value without any dilution on account of other precious stones or marking cost.
Source of purchase
Silver has to be purchased from authentic jewelers and sellers of silver or banks in order to ensure the authenticity of the metal as well as its purity. Online e-commerce websites can also be used to purchase silver. However, it is to be noted that customers have to make sure that such websites are genuine and the silver delivered is of correct purity as ordered and paid for.
Rate of Silver
The rate of silver is another important factor determining the time and quantity of purchase. Customers have to track the prices of silver on a daily basis in order to ensure that they get the best price. The rates of silver are affected or influenced due to many factors which are discussed later.
Proper certification of Silver
Certification of Silver is also an important consideration while making a purchase. Proper certified silver ensures the customers of its authenticity and purity and ensures that the buyers get the correct grade of silver that they desire. Proper certification of silver also ensures that the customers get the best resale price at the time of resale of their silver jewellery or silver in any other form held for personal or investment purposes.
There are many factors that influence or affect the rates of silver. Due to these factors, Coupled with the daily changes in the value of silver and gold in the commodity market, the prices of silver change on a daily basis. These factors that play a crucial role in determining the rates of silver are mentioned below.
1. What is the closing rate of silver in Karnataka for the month of October 2020?
The closing rate of silver in the month of October 2020 is Rs. 61,000 per kg or Rs. 61 per gram of silver.
2. What was the highest price of silver in the month of October, 2020?
The highest rate of silver in the month of October 2020 was Rs. 63,800 per kg on 12th October, 2020.
3. Are import costs associated with the final price of the metal?
Yes. Import costs are one of the many factors influencing the final price of silver. Higher import costs will naturally drive the rate of silver on the higher side.
4. What are the various forms of silver that the customers can purchase for personal or investment purposes?
The various forms in which a person can purchase silver for personal or investment reasons are
5. When is the best time to purchase silver?
The best time to purchase silver is when the rate of silver is on the lower side. For this, customers will have to track the silver prices on a daily basis to observe the price trend and make the best decision.
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