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Today Silver Rates In Punjab

17 Jan 2021

gold rate

₹64.90

( Per Gram )

gold rate

₹64899

1 Kg

TodayYesterdayChange(%)
1 gram64.9064.890.02%
10 gram64899648910.01%

Silver Rates In Punjab for Last 90 Days

17 Jan 2021

Date1 gramBar Silver 1KG
2021-01-1765.9064,899
2021-01-1665.8964,891
2021-01-1567.1567,151
2021-01-1467.6666,665
2021-01-1367.5266,516
2021-01-1266.9665,961
2021-01-1167.8366,827
2021-01-1067.8366,827
2021-01-0966.5865,577
2021-01-0872.6071,595
2021-01-0771.9970,991
2021-01-0672.1972,185
2021-01-0571.1171,105
2021-01-0469.0869,080
2021-01-0369.0869,080
2021-01-0269.0869,080
2021-01-0169.8568,853
2020-12-3169.4469,443
2020-12-3069.7168,708
2020-12-2969.3769,367
2020-12-2868.2968,288
2020-12-2768.0268,019
2020-12-2668.0268,019
2020-12-2568.0468,041
2020-12-2468.0168,007
2020-12-2367.7566,749
2020-12-2269.2869,276
2020-12-2168.0368,034
2020-12-2068.0368,034
2020-12-1968.0568,048
2020-12-1868.3868,381
2020-12-1766.9065,898
2020-12-1665.5164,513
2020-12-1563.0163,015
2020-12-1463.2663,259
2020-12-1363.2663,259
2020-12-1263.3763,369
2020-12-1163.2863,279
2020-12-1063.6062,598
2020-12-0965.0765,068
2020-12-0865.0265,021
2020-12-0764.9663,958
2020-12-0664.9663,958
2020-12-0564.8163,815
2020-12-0464.5063,497
2020-12-0363.3863,384
2020-12-0263.0463,042
2020-12-0160.7959,788
2020-11-3058.3058,298
2020-11-0364.8563,845
2020-11-0263.6762,672
2020-11-0163.2063,195
2020-10-3163.1663,157
2020-10-3062.1762,170
2020-10-2962.1462,140
2020-10-2865.5864,582
2020-10-2764.4364,430
2020-10-2665.0565,047
2020-10-2565.0565,047
2020-10-2465.9664,963
2020-10-2365.1265,117
2020-10-2266.0466,040
2020-10-2165.2665,258
2020-10-2064.7463,735
2020-10-1964.5563,546
2020-10-1864.5563,546
2020-10-1764.7963,791
2020-10-1664.6263,624
2020-10-1564.7863,782
2020-10-1464.5263,524
2020-10-1366.9965,990
2020-10-1266.7265,716
2020-10-1166.7265,716
2020-10-1065.4465,444
2020-10-0963.6962,693
2020-10-0862.4562,450
2020-10-0762.3262,320
2020-10-0664.8463,839
2020-10-0562.2662,259
2020-10-0462.2662,259
2020-10-0363.5962,590
2020-10-0263.8862,882
2020-10-0162.6161,607
2020-09-3064.2064,199
2020-09-2963.5062,500
2020-09-2860.4460,441
2020-09-2760.4460,441
2020-09-2661.8960,888
2020-09-2561.5760,570
2020-09-2460.1560,149

Historical Price of Silver Rate In Punjab

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

Silver Rates1 gram1 Kg
October 1st Rate63.1663,157
October 31th Rate62.6161,607
Highest October Rate66.0466,040
Lowest October Rate62.6161,607

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

Silver Rates1 gram1 Kg
November 1st Rate58.3058,298
November 30th Rate63.2063,195
Highest November Rate64.8563,845
Lowest November Rate58.358,298

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

Silver Rates1 gram1 Kg
December 1st Rate69.4469,443
December 31th Rate60.7959,788
Highest December Rate69.4469,443
Lowest December Rate60.7959,788

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

Silver Rates1 gram1 Kg
January 1st Rate65.9064,899
January 17th Rate69.8568,853
Highest January Rate72.1972,185
Lowest January Rate65.8964,891

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

Silver Rates1 gram1 Kg
September 1st Rate64.2064,199
September 30th Rate74.3974,389
Highest September Rate74.3974,389
Lowest September Rate60.1560,149

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

Silver Rates1 gram1 Kg
August 1st Rate73.3873,382
August 31th Rate65.4765,469
Highest August Rate78.178,105
Lowest August Rate65.265,200

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

Silver Rates1 gram1 Kg
July 1st Rate63.2263,224
July 31th Rate49.2649,264
Highest July Rate69.4869,482
Lowest July Rate48.1348,130

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

Silver Rates1 gram1 Kg
June 25th Rate48.3248,317
June 30th Rate48.6147,606
Highest June Rate48.3248,317
Lowest June Rate48.6147,606

Introduction

Punjab has been the food source of our country with its abundant fertile land and hard working residents. The state is home to a vibrant culture and is also connected to the ancient civilizations of India. Silver and gold both have been part of this rich culture of Punjab since the very beginning. Silver and gold thus have a very special status for the people of Punjab and has a huge demand for these precious metals.

Silver is the preferred option for personal use as well as from the investment perspective due to many reasons, the primary of them being the rate of silver. Silver rates are considerably lower as compared to that of gold and hence it makes it a cheaper option.

Silver is available in many forms and is often mixed with other metals like copper or nickel to make it durable in case of coins or jewellery. However, when silver is mixed with such metals it loses some of its purity level and is graded accordingly. These grades or purity levels are also a deciding factor in the final rate of silver.

Given below are all the details relating to the prices of silver, the various purity levels associated with it, the factors involved in the determination of the final rate of silver and more.

Rate of Silver in Punjab

The rate of silver in any part of the country or even globally is constantly changing on a daily basis. These rates are derived based on various influencing factors that play a key role in the determining the final price of the metal.

The current rates of silver in the state of Punjab are mentioned below.

Daily Silver Rates in Punjab

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 in Punjab for the Month of October, 2020

The rates of silver for the past month of October 2020 are discussed below.

Particulars

Rate Per Kg

Opening rate of Silver in the month of October 2020

Rs. 60,700

Closing Rate of Silver for the month of October 2020

Rs. 61,000

Highest rate of Silver in October 2020

Rs. 63,800 as on October 12

Lowest rate of Silver in October 2020

Rs. 62,200 as on October 7

The overall trend for silver in the month of October was on the increasing side in sync with the gold prices and silver prices globally. There was a net increase in the prices of silver in the state of Punjab for the month of October 2020.

Factors Influencing the prices of Silver in Punjab

As mentioned above, there are many factors that influence the global as well as national rate of silver on a daily basis. These factors range from the incidental costs involved in extraction, processing and selling of silver to other external factors that directly influence the rates of this product.

Some of such factors are mentioned below.

  • Increase in Crude Oil prices
  • Demand fluctuations (inclusive of industrial and personal demand) 
  • Dollar fluctuations
  • Inflation
  • Ancillary costs (Import Costs, Storage costs and Mining Costs)
  • Geo-political scenarios
  • Government policies (including the import and export policies and sanctions)
  • Gold prices

These above factors directly affect the prices of silver and enable it to change on a daily basis. These rate fluctuations are of particular importance in the commodity market where silver is traded.

Silver can be traded on the MCX and the NCDEX. The contracts entered are in the base size of 1 kg. These contracts are not in the form of spot contracts and the delivery can therefore, not be made immediately upon sale.

Purity of Silver

Silver is often combined with other metals to produce a sturdy silver coin or silver jewellery or any other form of silver as required. These combinations lead to a reduction in the purity of the metal. The purity of metal is of great importance as it is also one of the factors influencing its ultimate prices. Customers can purchase silver of the desired purity and get proper certification and marking for the same accordingly on the metal.

The various grades of silver available in the market are explained 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

Customers have to ensure that they get the silver according to the piece they pay for and it has proper markings on the form acquired. The various forms of markings that are placed on silver ensure the customer that the metal purchased is authentic and also eases the resale process as marked and certified silver is easy to sell and provides the customer with maximum resale value.

The types of markings that are placed on silver are mentioned below.

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

Such markings are placed on all forms of silver mentioned below.

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

FAQs – Silver Rate in Punjab

1. Where can silver be purchased from in Punjab?

Silver can be purchased from any of the following sources in Punjab

  • Private dealers
  • Certified jewelers
  • Banks
  • Authorized sellers

2. What is the primary reason for silver to be a better investment option as compared to gold?

Gold prices are extremely high as compared to that of silver. Customers can get almost a 1 kg of silver in the price that is similar to that of 10 grams of gold. Hence it makes it an attractive option for investment.

3. What are the points to be considered at the time of purchasing or selling silver?

The various points or factors to be considered at the time of making the purchase or sale decision of silver are mentioned below.

  • Tracking the prices of silver on a daily basis to observe and ascertain the trend being followed (whether increasing or decreasing trend) and decide on the best price accordingly.
  • Ensure proper certification at the time of purchase of silver to ensure ease of resale at any point and at any of the available sources mentioned above as well as get the best resale price for the metal.
  • Purchasing or selling silver through a trusted and authentic source like jewelers, dealers, banks etc. as mentioned above.
  • Determining the purpose of purchase of silver to get maximum resale value. It implies that if silver is being purchased by the customer for personal use, the form of silver is not as relevant and is purely as per the choice of the customer. If silver is being purchased with the intent to use it as an investment tool, the best form of silver in such cases will be silver coins, bars or bullions. This ensures that the customer does not face a reduction in the value of the product on account of marking cost or other metals or precious stones combined or embedded in silver.

4. What was the price of silver at the beginning of the month?

The price of silver as on 1st October, 2020 was Rs. 60,700 per kg or Rs. 60.7 per gram.

5. Are silver prices constant across the globe?

No. Silver prices are dynamic and change on a daily basis.

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