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Today’s silver rate across all major cities in India
27 Jan 2021
( Per Gram )
Silver Rates In Odisha for Last 90 Days
Trend of Silver Rate in Odisha for October 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for November 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for December 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for January 2021 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for September 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for August 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Odisha for July 2020 (Rates per gram for 1Gram / 1Kg Silver)
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 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
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 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.
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.
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 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.
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.
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.
Silver is available in many forms for personal use or investment purposes. These forms are
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.
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.
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.
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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