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Today Silver Rates In Odisha

25 Jul 2021

gold rate

₹65.16

( Per Gram )

gold rate

₹65164

1 Kg

TodayYesterdayChange(%)
1 gram65.1665.21-0.08%
10 gram6516465209-0.07%

Silver Rates In Odisha for Last 90 Days

25 Jul 2021

Date1 gramBar Silver 1KG
2021-07-2565.1665,164
2021-07-2465.2165,209
2021-07-2366.7665,760
2021-07-2265.4365,434
2021-07-2165.6064,598
2021-07-2065.3865,373
2021-07-1967.6166,611
2021-07-1867.6266,616
2021-07-1767.6466,635
2021-07-1668.2568,251
2021-07-1568.8867,884
2021-07-1467.4367,435
2021-07-1368.9667,957
2021-07-1268.6067,601
2021-07-1168.6067,601
2021-07-1068.8067,801
2021-07-0967.4167,404
2021-07-0868.0668,059
2021-07-0768.0768,063
2021-07-0668.3868,379
2021-07-0569.5268,527
2021-07-0469.5268,527
2021-07-0369.5668,560
2021-07-0268.5167,515
2021-07-0167.4867,479
2021-06-3067.6366,632
2021-06-2967.4367,438
2021-06-2867.3967,381
2021-06-2767.3567,348
2021-06-2667.1767,177
2021-06-2567.0367,031
2021-06-2467.8966,889
2021-06-2367.7366,723
2021-06-2267.0467,037
2021-06-1967.7266,715
2021-06-1867.0667,060
2021-06-1770.1370,134
2021-06-1671.5570,546
2021-06-1571.9170,914
2021-06-1471.1071,102
2021-06-1371.1071,102
2021-06-1271.2071,200
2021-06-1171.9470,938
2021-06-1071.6570,649
2021-06-0970.1770,173
2021-06-0871.7170,701
2021-06-0770.4770,476
2021-06-0670.4770,476
2021-06-0570.3770,364
2021-06-0470.7369,729
2021-06-0371.4171,412
2021-06-0271.7870,783
2021-06-0171.7070,698
2021-05-3170.2970,285
2021-05-3070.2970,285
2021-05-2970.0870,086
2021-05-2870.4170,415
2021-05-2770.9869,979
2021-05-2671.8270,822
2021-05-2570.3270,322
2021-05-2470.8769,873
2021-05-2370.8769,873
2021-05-2270.9169,909
2021-05-2170.4570,450
2021-05-2070.0470,032
2021-05-1972.6971,688
2021-05-1872.7671,769
2021-05-1770.8769,870
2021-05-1670.8769,870
2021-05-1570.7569,750
2021-05-1469.1869,184
2021-05-1369.4569,451
2021-05-1270.3770,364
2021-05-1170.7769,769
2021-05-1070.9669,957
2021-05-0970.9669,957
2021-05-0870.9369,925
2021-05-0770.9369,928
2021-05-0668.9367,933
2021-05-0568.8767,875
2021-05-0469.0068,996
2021-05-0367.7666,757
2021-05-0267.7666,757
2021-05-0167.7666,757
2021-04-3067.3367,332
2021-04-2968.9167,908
2021-04-2868.2168,207
2021-04-2768.0468,035
2021-04-2668.6967,684
2021-04-2568.6967,684

Historical Price of Silver Rate In Odisha

Trend of Silver Rate in Odisha for February 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate68.2768,269
February 28th Rate63.0363,025
Highest February Rate73.4573,450
Lowest February Rate63.0363,025

Trend of Silver Rate in Odisha for March 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate61.0161,008
March 31th Rate68.2768,269
Highest March Rate68.3168,307
Lowest March Rate61.0161,008

Trend of Silver Rate in Odisha for April 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate67.3367,332
April 30th Rate62.0862,077
Highest April Rate69.4769,473
Lowest April Rate62.0862,077

Trend of Silver Rate in Odisha for May 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate70.2970,285
May 31th Rate67.7666,757
Highest May Rate72.7671,769
Lowest May Rate67.7666,757

Trend of Silver Rate in Odisha for June 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
June 1st Rate67.6366,632
June 30th Rate71.7070,698
Highest June Rate71.4171,412
Lowest June Rate67.6366,632

Trend of Silver Rate in Odisha for July 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 1st Rate65.1665,164
July 25th Rate67.4867,479
Highest July Rate69.5668,560
Lowest July Rate65.664,598

Introduction

Silver is one of the most precious metals and has a great demand in our country. Silver along with gold has a long history of being part of our heritage and has a place in our culture not only as a precious metal but also as auspicious. Many traditions in India involve silver offerings to the deity and it is also used even today as a great gifting option at the time of weddings or any other important occasions or ceremonies.

Silver is also a heavily traded commodity in the commodities market and the prices of silver thus change or fluctuate on a daily basis. The details of the rate of silver in the state of Odisha are mentioned below.

Prices of Silver in Odisha

Prices of silver along with gold change on a daily basis as mentioned above. These rates are measured on the basis of the weight of the metal. Silver prices are quite lower as compared to that of gold and as such are a more attractive option for purchase whether for personal use or as an investment.

The current prices of silver are mentioned below.

Daily Silver Rates in Odisha

Silver Rate – 10 Gram (Rs.)

Silver Rate – 100 Gram (Rs.)

Silver Rate – 1 KG (Rs.)

31st Oct 2020

610

6100

61000

30th Oct 2020

602

6020

60200

29th Oct 2020

624.1

6241

62410

28th Oct 2020

624

6240

62400

27th Oct 2020

621

6210

62100

26th Oct 2020

615

6150

61500

25th Oct 2020

625

6250

62500

24th Oct 2020

625

6250

62500

23rd Oct 2020

626

6260

62600

22nd Oct 2020

630

6300

63000

21st Oct 2020

635

6350

63500

20th Oct 2020

620

6200

62000

19th Oct 2020

627.5

6275

62750

18th Oct 2020

617

6170

61700

17th Oct 2020

617

6170

61700

16th Oct 2020

616

6160

61600

15th Oct 2020

610

6100

61000

14th Oct 2020

620

6200

62000

Highlights of Silver Rates

The Rate of Silver at the start of the month of October 2020 was Rs. 60.70 per gram and Rs. 60700 per kg. The final rate of silver at the close of the past month i.e. on 31st October 2020 was Rs. 61 per gram and Rs. 61000 per kg. The highest price of Silver in the month of October, 2020 was at 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.

Factors Influencing Rates of Silver

There are many factors influencing the rates of silver in our country. Some of the main factors that influence the prices of silver and change on a day to day basis are discussed below.

Ancillary costs

There are many ancillary costs associated with silver pricing like import cost, mining costs and storage costs. These costs add to the final price of this metal and push it on a higher side.

Demand

Demand for silver is considered in the cumulative form namely, the individual demand and Investment demand. Such demand and supply dynamics play a crucial role in ascertaining the final price of the metal. Higher demand for silver results in higher final rate for silver.

Inflation

Silver prices are also affected by the inflation rate of any country. Higher inflation rates will pull the silver prices on higher side and vice versa.

Gold rates

Another factor influencing silver rates is the prices of gold. Increase in the gold prices will reflect on the rate of silver and is in direct proportion to the same i.e., silver rates will also follow these trends.

Forms of Silver available

Silver is available in many forms for personal use or investment purposes. These forms are

  • Silver coins
  • Silver bars
  • Silver bullions
  • Silver jewellery
  • Silver household items

Customers can purchase such silver in any weights or purity grade for investment purposes. Silver coins are available in the weights starting from as low as 1 gram to as high as 1 kg or 10 kg bars. Customers can get many options to choose from in case of silver coins like 1 gram or 2 gram coins, 5 gram, 10 gram, 15 gram, 25 gram, 40 gram, 50 gram, 100 gram, 200 gram, 500 gram and 1000 gram or 1 kg.

Silver bars are also available to customers in many options of weights and purity. Weight of silver bars range from 10 ounce to 1 kg.

The purity of silver available in various grades is tabled below.

Grade

Fineness

9999

999.9

9995

999.5

999

999.0

990

990.0

970

970.0

925

925.0

900

900.0

835

835.0

800

800.0

Silver Investment Options

The best option to invest in silver is in the form of silver bars and silver coins. This provides maximum return to the investor as there is no loss on account of melting of the metal or marking cost. Also there is no reduction in value of the investment on account of precious stones embedded along with silver.

Silver can be traded in the commodity market and the futures market. It can also be traded on the ETF (Exchange Traded Fund) which is currently not available in India but customers can register with a recognized stock broker that has access to such RTF and can thus gain from such trades.

Silver can be traded in MCX and NCDEX in contracts that have a base weight of 1 kg as lot sizes. These contracts are not like spot contracts and hence silver cannot be delivered on the spot upon sale of such contract.

FAQs – Silver Rate in Odisha

1. What was the highest rate of silver in the state of Odisha for the month of October 2020?

The highest rate of silver in Odisha in the month of October 2020 was Rs. 63,800 per kg on 12th October, 2020.

2. What was the lowest rate of silver in Odisha for the month of October 2020?

The lowest Rate of silver in Odisha in the month of October 2020 was Rs. 60,200 per kg as on 7th of October, 2020.

3. How can a person maximize their profit on investment in silver?

A person can maximize their profit in silver by considering the following factors in purchase and sale of silver.

  • The form of silver to be purchased (preferably silver coins, bars or bullions) to ensure maximum returns on investment and no unwanted dilution of value on account of other metals or stones or marking and melting costs.
  • Tracking the daily price of silver to get the maximum returns on investment.
  • Proper certification to ensure the genuineness and purity of the metal which will also ensure no hassles at the time of resale of silver.
  • Buying and selling silver through authorized dealers, sellers, jewelers and banks.

4. What is the mining cost of silver and does it affect the ultimate price of silver?

Mining cost of silver is the cost to get silver out of the mines and is one of the primary factors influencing the final rate of silver.

5. How can a person ascertain the purity of silver?

Customers can get the silver tested for purity through authorized dealers and sellers or jewelers and check for the marking on the metal as well. Apart from that there are some simple tests that can be done to determine the purity of silver like ice test, magnet test and stink test.

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