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Today Silver Rates In Odisha

27 Jan 2021

gold rate

₹63.03

( Per Gram )

gold rate

₹63025

1 Kg

TodayYesterdayChange(%)
1 gram63.0363.030.00%
10 gram63025630250.00%

Silver Rates In Odisha for Last 90 Days

27 Jan 2021

Date1 gramBar Silver 1KG
2021-01-2763.0363,025
2021-01-2663.0363,025
2021-01-2563.0363,025
2021-01-2463.0363,025
2021-01-2363.0363,025
2021-01-2263.0363,025
2021-01-2163.0363,025
2021-01-2063.0363,025
2021-01-1963.0363,025
2021-01-1863.0363,025
2021-01-1763.0062,997
2021-01-1663.9962,990
2021-01-1565.1865,183
2021-01-1465.7164,712
2021-01-1365.9064,900
2021-01-1264.0364,028
2021-01-1165.8764,869
2021-01-1065.8764,869
2021-01-0964.6463,637
2021-01-0870.5069,497
2021-01-0769.9168,911
2021-01-0670.0770,070
2021-01-0569.0369,022
2021-01-0467.0667,056
2021-01-0367.0667,056
2021-01-0267.0667,056
2021-01-0167.8366,836
2020-12-3167.4167,408
2020-12-3067.7066,696
2020-12-2967.3467,335
2020-12-2866.2966,287
2020-12-2766.0366,026
2020-12-2666.0366,026
2020-12-2566.0566,047
2020-12-2466.0266,014
2020-12-2365.7964,793
2020-12-2267.2567,246
2020-12-2166.0466,041
2020-12-2066.0466,041
2020-12-1966.0666,054
2020-12-1866.3866,377
2020-12-1764.9763,967
2020-12-1663.6262,623
2020-12-1561.1661,169
2020-12-1461.4161,406
2020-12-1361.4161,406
2020-12-1262.5161,512
2020-12-1161.4361,425
2020-12-1061.7760,764
2020-12-0963.1663,162
2020-12-0863.1163,116
2020-12-0762.0962,084
2020-12-0662.0962,084
2020-12-0562.9461,945
2020-12-0462.5561,553
2020-12-0362.5261,527
2020-12-0261.1961,195
2020-12-0158.0458,036
2020-11-3057.5956,590
2020-11-0362.9861,975
2020-11-0261.8360,835
2020-11-0161.3561,343
2020-10-3161.3161,306
2020-10-3060.3560,348
2020-10-2960.3260,319
2020-10-2863.6962,690
2020-10-2763.5462,542
2020-10-2663.1463,141
2020-10-2563.1463,141
2020-10-2463.0663,060
2020-10-2363.2163,209
2020-10-2264.1164,105
2020-10-2163.3563,346
2020-10-2062.8761,868
2020-10-1962.6961,684
2020-10-1862.6961,684
2020-10-1762.9261,922
2020-10-1662.7661,760
2020-10-1562.9161,913
2020-10-1462.6661,663
2020-10-1364.0664,056
2020-10-1264.7963,790
2020-10-1164.7963,790
2020-10-1064.5263,527
2020-10-0961.8560,856
2020-10-0861.6260,621
2020-10-0760.4960,494
2020-10-0662.9761,969
2020-10-0560.4460,435
2020-10-0460.4460,435

Historical Price of Silver Rate In Odisha

Trend of Silver Rate in Odisha for October 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
October 1st Rate61.3161,306
October 31th Rate60.8059,802
Highest October Rate64.1164,105
Lowest October Rate60.859,802

Trend of Silver Rate in Odisha for November 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
November 1st Rate57.5956,590
November 30th Rate61.3561,343
Highest November Rate62.9861,975
Lowest November Rate57.5956,590

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

Silver Rates1 gram1 Kg
December 1st Rate67.4167,408
December 31th Rate58.0458,036
Highest December Rate67.4167,408
Lowest December Rate58.0458,036

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

Silver Rates1 gram1 Kg
January 1st Rate63.0363,025
January 27th Rate67.8366,836
Highest January Rate70.0770,070
Lowest January Rate63.9962,990

Trend of Silver Rate in Odisha for September 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
September 1st Rate62.3662,362
September 30th Rate72.2172,210
Highest September Rate72.2172,210
Lowest September Rate58.3958,387

Trend of Silver Rate in Odisha for August 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
August 1st Rate71.2371,232
August 31th Rate64.5563,551
Highest August Rate76.8175,816
Lowest August Rate63.2963,290

Trend of Silver Rate in Odisha for July 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 5th Rate61.3761,372
July 31th Rate47.8846,876
Highest July Rate67.4467,446
Lowest July Rate47.8546,847

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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