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Today Silver Rates In Maharashtra

21 May 2022

silver rate today india

₹61.27

( Per Gram )

silver price today

₹61270

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram61.2761.39-0.20%
10 gram6127061392-0.20%

Silver Rates In Maharashtra for Last 90 Days

21 May 2022

Date1 gramBar Silver 1KG
2022-05-21₹ 61.27₹ 61,270
2022-05-20₹ 61.39₹ 61,392
2022-05-19₹ 60.11₹ 60,109
2022-05-18₹ 61.55₹ 60,543
2022-05-17₹ 61.84₹ 60,842
2022-05-16₹ 59.48₹ 59,483
2022-05-15₹ 59.21₹ 59,213
2022-05-14₹ 59.21₹ 59,213
2022-05-13₹ 58.18₹ 58,179
2022-05-12₹ 60.48₹ 60,487
2022-05-11₹ 59.49₹ 59,494
2022-05-10₹ 61.04₹ 61,040
2022-05-09₹ 62.19₹ 62,188
2022-05-08₹ 62.28₹ 62,287
2022-05-07₹ 62.28₹ 62,287
2022-05-06₹ 62.27₹ 62,271
2022-05-05₹ 63.30₹ 63,302
2022-05-04₹ 63.56₹ 62,551
2022-05-03₹ 63.01₹ 63,006
2022-05-02₹ 63.83₹ 62,827
2022-05-01₹ 65.08₹ 65,085
2022-04-30₹ 65.08₹ 65,085
2022-04-29₹ 65.16₹ 65,167
2022-04-28₹ 65.06₹ 65,066
2022-04-27₹ 65.47₹ 65,468
2022-04-26₹ 66.64₹ 65,635
2022-04-25₹ 67.77₹ 66,770
2022-04-24₹ 67.87₹ 66,874
2022-04-23₹ 67.87₹ 66,873
2022-04-22₹ 67.08₹ 67,082
2022-04-21₹ 69.45₹ 69,445
2022-04-20₹ 69.38₹ 69,374
2022-04-19₹ 71.29₹ 71,285
2022-04-18₹ 71.40₹ 71,400
2022-04-17₹ 71.91₹ 70,917
2022-04-16₹ 71.91₹ 70,917
2022-04-15₹ 71.88₹ 70,882
2022-04-14₹ 71.73₹ 70,735
2022-04-13₹ 70.95₹ 69,952
2022-04-11₹ 68.14₹ 68,144
2022-04-10₹ 68.09₹ 68,098
2022-04-09₹ 68.09₹ 68,098
2022-04-08₹ 68.63₹ 67,630
2022-04-07₹ 67.01₹ 67,008
2022-04-06₹ 66.44₹ 66,442
2022-04-05₹ 67.99₹ 66,996
2022-04-04₹ 68.81₹ 67,806
2022-04-03₹ 68.69₹ 67,693
2022-04-02₹ 68.69₹ 67,692
2022-04-01₹ 68.15₹ 68,153
2022-03-31₹ 68.08₹ 68,083
2022-03-30₹ 68.87₹ 67,875
2022-03-29₹ 68.29₹ 68,287
2022-03-28₹ 70.34₹ 70,334
2022-03-27₹ 70.46₹ 70,460
2022-03-26₹ 70.46₹ 70,461
2022-03-25₹ 70.49₹ 70,486
2022-03-24₹ 70.76₹ 69,765
2022-03-23₹ 68.08₹ 68,083
2022-03-22₹ 70.70₹ 69,704
2022-03-21₹ 69.52₹ 68,516
2022-03-20₹ 69.53₹ 68,529
2022-03-19₹ 69.53₹ 68,529
2022-03-18₹ 70.84₹ 69,846
2022-03-17₹ 69.20₹ 69,201
2022-03-16₹ 69.97₹ 68,972
2022-03-15₹ 69.35₹ 69,349
2022-03-14₹ 71.28₹ 71,282
2022-03-13₹ 72.74₹ 71,745
2022-03-12₹ 72.74₹ 71,745
2022-03-11₹ 72.63₹ 71,629
2022-03-10₹ 70.47₹ 70,474
2022-03-09₹ 73.31₹ 73,310
2022-03-07₹ 72.07₹ 72,066
2022-03-06₹ 71.11₹ 71,102
2022-03-05₹ 71.11₹ 71,102
2022-03-04₹ 69.22₹ 69,212
2022-03-02₹ 70.62₹ 69,617
2022-03-01₹ 67.69₹ 66,692
2022-02-28₹ 66.45₹ 66,451
2022-02-27₹ 66.91₹ 65,908
2022-02-26₹ 66.89₹ 65,891
2022-02-25₹ 67.59₹ 66,586
2022-02-24₹ 66.35₹ 66,347
2022-02-23₹ 65.21₹ 65,217
2022-02-22₹ 65.88₹ 64,877
2022-02-21₹ 65.88₹ 64,885
2022-02-20₹ 65.72₹ 64,723
2022-02-19₹ 65.72₹ 64,723
2022-02-18₹ 65.80₹ 64,797

Historical Price of Silver Rate In Maharashtra

Trend of Silver Rate in Maharashtra for May 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate61.2761,270
May 21th Rate65.0865,085
Highest May Rate65.0865,085
Lowest May Rate58.1858,179

Trend of Silver Rate in Maharashtra for April 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate65.0865,085
April 30th Rate68.1568,153
Highest April Rate71.471,400
Lowest April Rate65.0665,066

Trend of Silver Rate in Maharashtra for March 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate68.0868,083
March 31th Rate67.6966,692
Highest March Rate73.3173,310
Lowest March Rate67.6966,692

Trend of Silver Rate in Maharashtra for February 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate66.4566,451
February 28th Rate61.6760,667
Highest February Rate67.5966,586
Lowest February Rate61.660,595

Trend of Silver Rate in Maharashtra for January 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
January 1st Rate61.8560,845
January 31th Rate63.7962,790
Highest January Rate66.6665,656
Lowest January Rate60.8259,817

Introduction

Maharashtra has been home to some of the highest sales or trades in silver in the past. Silver and gold hold a huge importance in the culture of Maharashtra and is an integral part of its heritage. Prices of silver in Maharashtra depend on many factors that change the rates of silver on a daily basis. Silver can be purchased for personal use as well as for investment purposes. Customers generally prefer silver over gold for investment purposes due to lower rate as compared to that of gold as well as easy availability of this metal. The rates of silver in the state of Maharashtra are mentioned below.

Where to purchase silver in Maharashtra?

Customers can purchase silver from many sources like

  • Authorized sellers
  • Jewelers
  • Banks
  • E-commerce portals

While purchasing silver, the most crucial point to be considered is to ensure that the metal purchased is genuine and the purity is correctly mentioned to the customer at the time of purchase. Chances of fraud or providing a lesser quality or purity product of silver are higher in case of e-commerce portals or unauthorized sellers of silver. Hence, the customers have to ensure that the silver bought has proper certification.

The various certification markers present on the silver that prove its authenticity and purity are mentioned below.

  • Jeweler’s / Manufacturer’s Identification Symbol
  • Purity Grade Indicator
  • Marking Year
  • BIS (Bureau of Indian Standards) Mark
  • Assay Centre’s identification mark

Interpreting the Purity of Silver

The purity of silver is usually measured in percentage and is allotted markings like 999 purity or 9999 purity. The highest purity level allotted to silver is 9999. Silver is usually combined with copper to ensure that the silver coins are more durable and do not deteriorate over time.

There are many tests that can be performed to check the purity of the silver purchased. Some of the most common tests are,

  • Ice test where a cube of ice is put on the silver coin or bar or as the case may be. If the ice cube melts faster, then the silver is genuine and of higher purity.
  • Magnet test is another test to determine the purity of silver. When a magnet is run over the silver and if the metal sticks to the magnet then it is not considered to be pure.
  • Stink tests can also be done to determine the purity of silver as sterling silver does not have any odor and hence does not stink.

Factors Influencing the Prices of Silver in Maharashtra

The rates of silver are determined based on many factors that affect its price on a daily basis. These factors range from associated costs to even inflation of the country as well as other countries. The details of such factors are mentioned below.

Demand

The demand for silver is the primary factor influencing its rate. Such demand for silver includes individual as well as commercial or industrial demand. Demand for silver is considered in cumulative i.e. in all its forms like coins, bars, household items and jewellery. While demand at individual level is in smaller or retail quantities, the industrial demand for silver for industrial purposes is in bulk quantity.

Gold Prices

Gold prices are also a driving force for the price of silver. Gold along with silver is part of the commodity market and its rate also changes on a daily basis. Gold prices and silver prices are usually in sync in the market trends and are on the rise like in the current market. Silver prices will most definitely increase with an increase in the gold prices.

Inflation

The rate of inflation in any country is also a factor that can influence the prices of silver. Increase in inflation of a country will directly lead to increase in the prices of silver. In India too, the increase in inflation results in the increase of silver rates across the country.

Ancillary costs

Another important factor affecting the silver prices is the ancillary or the associated costs related to the procurement as well as in later stages of refining or storage of this precious metal. Such costs are multiple and some examples of these costs are the mining cost, import costs, storage costs, warehousing costs, marking costs, etc. These costs are directly related to the demand for silver. With the increase in the demand for silver, such ancillary costs will also increase resulting in the ultimate increase in the rate of silver.

External factors

The external factors affecting silver rate are the geo-political scenario, government policies, import and export policies, crude prices, dollar fluctuations, etc.

FAQs – Silver Rate In Maharashtra

1. What is the Silver ETF?

Silver ETF is the Silver Exchange Traded Fund. Currently, India does not have a notified ETF. Customers desiring to trade on silver ETF have to get themselves duly registered to the US Silver ETF through a registered stock broker that has access to the US Silver ETF.

2. What are the various considerations to be taken into account while purchasing silver?

The various considerations to be taken into account while purchasing silver are,

  • Daily rates of silver
  • Form of silver to be purchased (whether silver coins, silver bars silver bullions, silver jewellery or silver household items)
  • Ensuring a trusted and authenticated source of purchase for silver especially when buying in larger quantities.
  • Ensuring proper certification of the silver to be purchased and ensuring it has all the necessary markings that authenticate the purity of the metal and the genuineness of the purchase.

3. Why is silver more preferred than gold in many markets?

Silver is a cheaper mode of investment as compared to gold and hence can also be bought in bulk. This is one of the main reasons that silver is preferred more as compared to gold in many markets.

4. When can the customer get the maximum return on silver purchased?

Investment in silver made in the form of silver coins and silver bars and bullions provide maximum returns to the customer at the time of liquidating the investment or selling the silver held. Hence it is advisable to invest in silver coins, bars and bullions to ensure maximum returns on the investment made.

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