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Today Silver Rates In Punjab

21 Jun 2024

silver rate today india

₹73.51

( Per Gram )

silver price today

₹73508

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram73.5172.601.24%
10 gram73508726011.23%

Silver Rates In Punjab for Last 90 Days

21 Jun 2024

Date1 gramBar Silver 1KG
2023-11-27₹ 74.51₹ 73,508
2023-11-26₹ 73.60₹ 72,601
2023-11-25₹ 73.60₹ 72,601
2023-11-24₹ 71.71₹ 70,709
2023-11-23₹ 71.67₹ 70,668
2023-11-22₹ 71.97₹ 70,973
2023-11-21₹ 71.92₹ 70,917
2023-11-20₹ 71.61₹ 70,608
2023-11-19₹ 71.79₹ 70,786
2023-11-18₹ 71.79₹ 70,786
2023-11-17₹ 71.01₹ 71,014
2023-11-16₹ 70.51₹ 69,511
2023-11-15₹ 69.61₹ 68,607
2023-11-14₹ 67.66₹ 66,657
2023-11-13₹ 66.12₹ 66,119
2023-11-12₹ 66.43₹ 66,430
2023-11-11₹ 66.43₹ 66,430
2023-11-10₹ 68.68₹ 67,679
2023-11-09₹ 67.46₹ 67,464
2023-11-08₹ 67.31₹ 67,312
2023-11-07₹ 68.37₹ 68,366
2023-11-06₹ 69.03₹ 69,029
2023-11-05₹ 69.14₹ 69,144
2023-11-04₹ 69.14₹ 69,144
2023-11-03₹ 68.54₹ 67,539
2023-11-02₹ 68.49₹ 68,494
2023-11-01₹ 68.75₹ 67,749
2023-10-31₹ 69.34₹ 69,342
2023-10-30₹ 69.91₹ 68,914
2023-10-29₹ 69.06₹ 69,065
2023-10-28₹ 69.06₹ 69,065
2023-10-27₹ 68.04₹ 68,037
2023-10-26₹ 68.31₹ 68,315
2023-10-25₹ 68.32₹ 68,319
2023-10-24₹ 69.67₹ 68,667
2023-10-23₹ 69.94₹ 68,943
2023-10-22₹ 70.67₹ 69,674
2023-10-21₹ 70.67₹ 69,674
2023-10-20₹ 69.77₹ 68,765
2023-10-19₹ 68.10₹ 68,095
2023-10-18₹ 68.48₹ 68,481
2023-10-17₹ 67.95₹ 66,950
2023-10-16₹ 67.44₹ 67,438
2023-10-15₹ 68.75₹ 67,751
2023-10-14₹ 68.75₹ 67,751
2023-10-13₹ 65.26₹ 65,263
2023-10-12₹ 66.91₹ 65,912
2023-10-11₹ 65.16₹ 65,157
2023-10-10₹ 65.17₹ 65,172
2023-10-08₹ 64.43₹ 64,431
2023-10-07₹ 64.43₹ 64,431
2023-10-06₹ 63.65₹ 62,654
2023-10-05₹ 63.16₹ 63,164
2023-10-04₹ 63.67₹ 62,674
2023-10-03₹ 62.15₹ 62,148
2023-10-02₹ 65.40₹ 65,398
2023-10-01₹ 66.03₹ 66,025
2023-09-30₹ 66.14₹ 66,139
2023-09-29₹ 68.56₹ 67,559
2023-09-28₹ 67.13₹ 67,135
2023-09-27₹ 68.14₹ 68,135
2023-09-26₹ 69.73₹ 68,733
2023-09-25₹ 70.03₹ 70,029
2023-09-24₹ 70.10₹ 70,096
2023-09-23₹ 70.10₹ 70,096
2023-09-22₹ 70.65₹ 69,651
2023-09-21₹ 69.86₹ 68,855
2023-09-20₹ 69.97₹ 68,970
2023-09-19₹ 69.28₹ 69,284
2023-09-18₹ 69.85₹ 68,846
2023-09-17₹ 69.51₹ 68,510
2023-09-16₹ 69.51₹ 68,510
2023-09-15₹ 68.12₹ 68,117
2023-09-14₹ 68.10₹ 68,104
2023-09-13₹ 68.23₹ 68,228
2023-09-12₹ 69.57₹ 68,565
2023-09-11₹ 68.41₹ 68,415
2023-09-10₹ 68.27₹ 68,275
2023-09-09₹ 68.27₹ 68,275
2023-09-08₹ 69.79₹ 68,789
2023-09-07₹ 69.98₹ 68,983
2023-09-06₹ 70.91₹ 69,914
2023-09-05₹ 71.76₹ 70,758
2023-09-04₹ 72.63₹ 71,626
2023-09-03₹ 72.64₹ 71,636
2023-09-02₹ 72.64₹ 71,636
2023-09-01₹ 73.60₹ 72,599
2023-08-31₹ 73.94₹ 72,936
2023-08-30₹ 73.98₹ 72,984
2023-08-29₹ 72.67₹ 71,673
IDFC MILLENIA MALE

Historical Price of Silver Rate In Punjab

Overview Silver in Punjab

Silver is another important metal that has multiple uses like ornamental, electrical, medicinal, etc. While gold is an important investment option, it is often beyond the reach of many investors. In such case, they can opt for silver which is relatively cheaper and allows the investor get more quantity of silver. Punjab is known as the green belt of India and has a huge population which makes it an important market for silver and other precious metals and gemstones. Given below are a few details of investment in silver and the current rates of silver in Punjab.

What are the benefits of investing in silver?

Silver has been part of our culture since the ancient civilizations and has always found a place in the religious as well as ornamental needs of people. This metal along with gold is often used as an offering to the deity. In some cultures, it is also believed that eating silver in small quantities is quite good for health. The other benefits of investing in silver are mentioned below.

  • Silver is cheaper than gold which makes it a better investment option especially for those who cannot afford gold.
  • Silver can be used in making ornaments, artefacts, medication, electronic sector, etc. The multiple uses of silver ensures that silver will never go out of demand.
  • Investing in silver can be in further attractive as it will never lose its shine and can be used even after keeping it for a long time.
  • Investment in silver can be in multiple forms like physical silver or silver ETFs, silver funds, silver bullion or silver coins.

How are silver prices determined?

Silver prices are determined based on many factors. Some of the factors are mentioned below.

Demand

The demand for silver is one of the prime factors that influence the price of silver. The demand can be for personal or industrial use. The individual demand for silver has to be considered in totality i.e., the demand for coins, bars, household items and jewellery. Silver can be used for personal as well as industrial purposes (for example, in industries like mobile phone manufacturing, plumbing, microwave, etc.) The industrial demand apart from the individual demand both have to be considered while determining the demand side of the price dynamics for silver.

Mining Cost

Silver like many other precious metals is available deep on our planet. This metal has to be therefore mined to extract it from the depths of the earth. Mining cost is a direct cost that impacts the prices of silver. If the mining cost is high, the cost of silver will eventually also be high.

Inflation

Inflation is another contributing factor in any country that can affect the prices of silver. It is therefore essential to track the inflation of the country on regular basis to get the correct prices of the metal at any point in time.

Import Costs

India has a huge demand for silver which is met through imports of the metal. These are referred to as ancillary costs but have an impact on the prices of the metal. It is important to note that import costs are directly related to the demand for silver; the higher the demand, the higher the imports to meet such demand. Also, demand for silver is the composite demand for individual markets as well as the industrial market.

Gold Prices

Fluctuations in gold and silver prices go hand in hand. When the price of gold increases, silver also responds to it with an increase in silver prices.  Silver along with gold is heavily traded in the commodity market. Hence, it can be said the gold prices and silver prices have a direct relation.

FAQs – Silver Rate in Punjab

1. How to invest in silver?

A. Investment in silver can be in its physical form or in the form of silver ETFs or derivative contracts. These derivative contracts are traded on the MCX and the NCDEX exchange.

2. What are the purity levels of silver?

A. The purity levels of silver are different based on the alloys mixed. The various purity levels of silver range from grade 800 to grade 9999. The highest purity level is 9999.

3. What is the current price of silver in Punjab?

A. The current price of silver in Punjab is Rs. 67,600 for 1 kg of silver.

4. Can silver coins and bullions be traded in the futures market?

A. Yes. India does not have an exchange platform for silver to be traded. However, in the futures market, investment in silver is in the form of silver coins, bars, bullions.

5. How are silver rates related to gold rates?

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

6. Are silver prices constant across the globe?

A. Silver rates and gold rates are directly related to each other. This means that an increase in one commodity is usually reflected by an increase in the other.

7. How can an investor get maximum purity in silver investment?

A. Investment in silver coins and bars will provide maximum purity which can help in receiving a higher resale price.

8. What are the various authentication marking in silver to assure of its purity and quality?

A. The various authentication marking in silver to assure of its purity and quality are,

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

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