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Today Silver Rates In Madhya pradesh

16 Jun 2021

gold rate

₹73.02

( Per Gram )

gold rate

₹73017

1 Kg

TodayYesterdayChange(%)
1 gram73.0273.45-0.59%
10 gram7301773445-0.59%

Silver Rates In Madhya pradesh for Last 90 Days

16 Jun 2021

Date1 gramBar Silver 1KG
2021-06-1773.0273,017
2021-06-1673.4573,445
2021-06-1574.8273,828
2021-06-1474.0374,024
2021-06-1374.0374,024
2021-06-1274.1374,126
2021-06-1174.8573,854
2021-06-1074.5573,553
2021-06-0973.0673,057
2021-06-0874.6173,607
2021-06-0773.3773,373
2021-06-0673.3773,373
2021-06-0573.2673,256
2021-06-0473.5972,595
2021-06-0374.3574,348
2021-06-0274.6973,693
2021-06-0174.6073,604
2021-05-3173.1873,175
2021-05-3073.1873,175
2021-05-2973.9772,966
2021-05-2873.3173,309
2021-05-2773.8572,855
2021-05-2674.7373,733
2021-05-2573.2173,213
2021-05-2473.7472,745
2021-05-2373.7472,745
2021-05-2273.7872,782
2021-05-2173.3573,345
2021-05-2073.9172,911
2021-05-1975.6374,635
2021-05-1875.7174,719
2021-05-1773.7472,742
2021-05-1673.7472,742
2021-05-1573.6272,617
2021-05-1472.0372,027
2021-05-1372.3172,305
2021-05-1273.2673,256
2021-05-1173.6472,637
2021-05-1073.8372,833
2021-05-0973.8372,833
2021-05-0873.8072,800
2021-05-0773.8072,803
2021-05-0671.7270,726
2021-05-0571.6670,665
2021-05-0472.8371,832
2021-05-0370.5069,501
2021-05-0270.5069,501
2021-05-0170.5069,501
2021-04-3070.1070,099
2021-04-2971.7070,700
2021-04-2871.0171,011
2021-04-2771.8370,832
2021-04-2670.4770,466
2021-04-2570.4770,466
2021-04-2471.5370,525
2021-04-2371.1071,100
2021-04-2272.3372,329
2021-04-2171.5070,494
2021-04-2070.0270,028
2021-04-1970.0470,049
2021-04-1870.0670,062
2021-04-1770.3170,311
2021-04-1670.0470,049
2021-04-1569.9668,963
2021-04-1469.0569,051
2021-04-1367.2067,205
2021-04-1268.3168,305
2021-04-1168.3168,305
2021-04-1068.2468,239
2021-04-0969.8168,812
2021-04-0868.7867,784
2021-04-0767.9766,973
2021-04-0666.5165,510
2021-04-0566.3266,312
2021-04-0466.3266,312
2021-04-0366.3166,308
2021-04-0266.9465,946
2021-04-0165.6364,629
2021-03-3164.5263,516
2021-03-3065.8564,847
2021-03-2966.7365,726
2021-03-2866.7365,726
2021-03-2765.4765,467
2021-03-2666.1466,141
2021-03-2566.0266,019
2021-03-2466.8365,828
2021-03-2367.4667,458
2021-03-2269.9168,908
2021-03-2169.8168,811
2021-03-2069.7768,772

Historical Price of Silver Rate In Madhya pradesh

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

Silver Rates1 gram1 Kg
December 20th Rate70.1870,179
December 31th Rate69.7568,755
Highest December Rate70.1870,179
Lowest December Rate67.4667,457

Introduction

Silver price in India is greatly influenced by International prices, which tend to fluctuate a lot on a daily basis. It is also dependent on the value of the US Dollar against the Indian rupee.

Silver is called ‘Poor man’s gold’ in India. It enjoys a status equivalent to gold in terms of purchase during auspicious occasions. Silver jewellery is sought out by women. Silver pooja articles have always held a special place in every Indian household. In recent years, owing to its availability and affordability, silver gifts are finding a place in ‘Corporate Gifting’.

Silver is also a primary component in many industries. It is used in the manufacturing of the most common electronic devices such as mobile phones and tabs. Silver is also a fundamental element used in the production of photovoltaic cells that are used in the automobile industry and solar panels.

Availability of Silver in India

India’s major silver source is through imports, though we have a few silver mines in Rajasthan and Jharkhand. Silver is derived as a by-product while extraction of lead, zinc, copper and gold ores.

Mexico ranks number one in silver production, followed by Peru, Australia, China, Chile and a few more. Since the late 1970s, silver production has outpaced demand, resulting in rising silver prices. In India, as silver demand is primarily met through imports, global demand-supply factors influence its price greatly. Processes are put in place to increase silver and gold recovery during copper extraction.

Silver Market in Madhya Pradesh

Silver is a commonly purchased precious metal in every household of Madhya Pradesh. Though they are primarily purchased in the form of jewellery, puja articles & household items are also some of the silver articles bought by consumers. Silver has proven to be a reliable investment, giving steady returns over the years.

Purchasing silver jewellery and household items

There is no scarcity of jewellery stores in India. Silver jewellery and household items are widely available in almost every jewellery store here. Silver jewellery is very commonly worn by women and men in India. Children are particularly adorned with silver jewellery such as anklets, bracelets and earrings.

Silver is not very costly; thus it is called 'the poor man's gold.' Silver jewellery is very cheap and not as expensive as gold or platinum jewellery. They're quick to make and come with lots of attractive designs. People choose silver on all of their jewellery items because of their affordability.

The downside to buying silver jewellery is the high fees and the very low resale quality for your old silver jewellery. This results in a substantial loss, whether you plan to sell or trade your old silver jewellery or parts.

Investment in Silver Coins in Madhya Pradesh 

Silver is also known as a lovely gift. Indians exchange gifts for special occasions in their lives. When it comes to birthdays, wedding celebrations, house-warming functions, gatherings, corporate presents, and many more, silver coins are among the most common choices of gifts for all. Silver coins, like silver jewellery or other items, are also readily available. You can buy it from any of the jewellery stores. Certified and verified silver coins from post offices and banks can also be purchased.

Although Silver Coins is an appealing choice for presents, when you go to resell them, they are not useful either. Some amounts are deducted as excess and the items you want to buy are always charged a premium. Silver coins are thus not a very attractive choice for many.

Silver Futures Trading in Madhya Pradesh

Trading for Silver Futures is a very good business investment opportunity. Madhya Pradesh residents will invest through the MCX network in the Silver Futures exchange. The Multi Commodity Exchange of India (MCX) is a cutting-edge commodity futures exchange that enables the online trading of commodity derivative exchanges as well as offering an opportunity to analyse and control the market.

A Silver Futures is a legally binding deal to supply silver at a negotiated future price. The number, quality, period and place of distribution are decided in a potential trade deal, only the price varies. Usually, futures contracts shall be exchanged on an exchange where a party consents to acquire and take delivery at a certain date of a certain amount of shares or product.

You must take the help of a broker who is a stock exchange member to deal in silver futures. Even smaller investors will have access to silver future portfolios. Since they are available in different sizes including 30 kg, 5 kg and 1 kg, smaller investments are simple to make. Until the expiry day, you don't have to keep it. When you figure out that the price of silver isn't going to your advantage, you can call it off some time before that.

Silver futures trading has many advantages. Firstly, it is an important protective measure against other investments. Since silver is normally heading to equity in the opposite direction, your capital losses may be compensated by future income. Without distribution of the commodity, you will benefit from price fluctuations in silver and think of safety and purity. Since these futures are traded actively, liquidity does not have to be thought of.

The drawback is that low margins will overextend you and lead to losing a lot. The swings in silver futures can also be hard to deal with in order to find the right time to book profits or reduce losses.

Madhya Pradesh Silver ETFs

In Madhya Pradesh, or even in India, there are no Silver ETF schemes. Silver ETFs listed on the United States market may be opted by buyers. They need brokering for international stock markets or they are sponsored in international stock market trade through stock brokers.

Factors in Madhya Pradesh that Impact Silver Prices

India's silver prices are driven mainly by silver prices globally. The impact of silver prices internationally and in India on prices at Madhya Pradesh is therefore instructive.

Silver deposits in Australia, Bolivia, Mexico and Kazakhstan are concentrated. This may have the effect of driving up the silver price in supply disturbances in both of these major mines, as silver is still very vulnerable to demand disturbances.

Global demand & supply: Global demand increase, increased productivity and new manufacturing plants will force up prices as demand increases. This is mainly because silver production now surpasses supply.

Spot price of silver: Finally, the spot price of silver also has an impact on the trading of silver bets. If the sellers are too long on the stock, they help to build a price cap, while too much of the net shorts on the stock appear to create a floor for the price of silver.

Things to Keep in Mind, when you Purchase Silver

When you have decided to purchase silver or trade in silver, investigating the market takes a while. It helps you think about Silver's latest price pattern and making an educated decision. Since silver is very risky, you have to keep an eye on your investment on the right day. Here are a few tips to help you decide whenever you invest in silver.

Research the general trend of silver rates: silver prices need continuous tracking, but most of them avoid volatility on the market. If they are for investing purposes, you must watch it further. That lets you decide whether to buy or sell in the right manner and be more equipped. You may use the CreditMantri Silver Rate page to review the Madhya Pradesh Live Silver Rate and to make the most up-to-date decisions on your Silver Investment.

Think on what kind of silver you want: like gold, silver comes in different forms, such as bars, coins, and jewellery. Each form has its own special advantages and inconveniences. If your aim is to sell silver later, then the better alternative to jewellery is other types of silver investment, including coins or bars, should be taken into consideration. Decide what kind of investment you want, because you've got a better picture of the advantages and disadvantages.

Certification Check: Silver marks were adopted in 2005 by the Bureau of Indian Standards (BIS). The purity of silver varies, and its finest quality is of 9999. Normal markers in the BIS Recognised Checking and Hallmarking Centres are printed in the silver and silver alloys. 5 marks of platinum, including

  • BIS mark
  • Purity/fineness
  • Assay centre’s identification mark
  • Year of marking
  • Jeweller’s/manufacturer’s identification mark

Online buying opportunities: There are actually many online shops offering silver with various purities. Although shopping on-line is easy, you must be very careful only to buy from trusted authorized sellers because of the considerable potential for silver fraud and adulteration.

FAQs

1. How to check Silver live rates on the CreditMantri website?

You can log on to CreditMantri’s Silver Rate page to check the Madhya Pradesh 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. What are some factors affecting silver rates in India?

Silver rates in India are primarily determined by industrial demand, investment demand, import costs & Rupee Vs. Dollar rates.

3. What are the disadvantages of investing in silver jewellery?

The major disadvantage of purchasing silver jewellery is that a considerable amount of money is wasted when you exchange or resell the silver jewellery items. Also, you have to pay making charges and wastage for the new items you are going to purchase.

4. Where can I buy Silver Futures in India?

Silver Futures are traded on the National Spot Exchange Limited (NSEL).

5. What is the minimum quantity of silver to be bought on the NSEL?

The minimum trading quantity is one lot of 100 demated units of E-Silver, which is equivalent to 100 grams of silver.

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