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Today Silver Rates In Punjab

21 May 2022

silver rate today india

₹60.63

( Per Gram )

silver price today

₹60627

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram60.6360.75-0.20%
10 gram6062760748-0.20%

Silver Rates In Punjab for Last 90 Days

21 May 2022

Date1 gramBar Silver 1KG
2022-05-21₹ 61.63₹ 60,627
2022-05-20₹ 61.75₹ 60,748
2022-05-19₹ 60.56₹ 59,559
2022-05-18₹ 60.05₹ 60,047
2022-05-17₹ 60.20₹ 60,204
2022-05-16₹ 59.86₹ 58,859
2022-05-15₹ 59.59₹ 58,592
2022-05-14₹ 59.59₹ 58,592
2022-05-13₹ 58.57₹ 57,569
2022-05-12₹ 60.85₹ 59,853
2022-05-11₹ 59.87₹ 58,870
2022-05-10₹ 60.47₹ 60,473
2022-05-09₹ 62.54₹ 61,536
2022-05-08₹ 62.63₹ 61,634
2022-05-07₹ 62.63₹ 61,634
2022-05-06₹ 62.62₹ 61,618
2022-05-05₹ 63.64₹ 62,638
2022-05-04₹ 62.90₹ 61,895
2022-05-03₹ 62.35₹ 62,345
2022-05-02₹ 62.17₹ 62,168
2022-05-01₹ 64.40₹ 64,402
2022-04-30₹ 64.40₹ 64,402
2022-04-29₹ 64.48₹ 64,483
2022-04-28₹ 64.38₹ 64,384
2022-04-27₹ 65.78₹ 64,781
2022-04-26₹ 65.95₹ 64,947
2022-04-25₹ 66.07₹ 66,070
2022-04-24₹ 66.17₹ 66,173
2022-04-23₹ 66.17₹ 66,172
2022-04-22₹ 67.53₹ 66,527
2022-04-21₹ 69.72₹ 68,717
2022-04-20₹ 69.65₹ 68,646
2022-04-19₹ 71.54₹ 70,537
2022-04-18₹ 71.65₹ 70,651
2022-04-17₹ 70.17₹ 70,173
2022-04-16₹ 70.17₹ 70,173
2022-04-15₹ 70.14₹ 70,139
2022-04-14₹ 70.99₹ 69,993
2022-04-13₹ 69.22₹ 69,218
2022-04-11₹ 67.43₹ 67,429
2022-04-10₹ 67.38₹ 67,384
2022-04-09₹ 67.38₹ 67,384
2022-04-08₹ 67.92₹ 66,921
2022-04-07₹ 66.31₹ 66,305
2022-04-06₹ 66.80₹ 65,798
2022-04-05₹ 66.29₹ 66,293
2022-04-04₹ 67.10₹ 67,095
2022-04-03₹ 67.98₹ 66,983
2022-04-02₹ 67.98₹ 66,982
2022-04-01₹ 67.34₹ 67,342
2022-03-31₹ 67.37₹ 67,369
2022-03-30₹ 67.05₹ 67,055
2022-03-29₹ 68.78₹ 67,776
2022-03-28₹ 70.60₹ 69,596
2022-03-27₹ 70.72₹ 69,721
2022-03-26₹ 70.72₹ 69,722
2022-03-25₹ 70.75₹ 69,747
2022-03-24₹ 69.03₹ 69,033
2022-03-23₹ 67.37₹ 67,369
2022-03-22₹ 69.97₹ 68,973
2022-03-21₹ 68.80₹ 67,797
2022-03-20₹ 68.81₹ 67,810
2022-03-19₹ 68.81₹ 67,810
2022-03-18₹ 69.11₹ 69,113
2022-03-17₹ 68.47₹ 68,475
2022-03-16₹ 68.17₹ 68,169
2022-03-15₹ 69.62₹ 68,622
2022-03-14₹ 71.53₹ 70,534
2022-03-13₹ 71.99₹ 70,992
2022-03-12₹ 71.99₹ 70,992
2022-03-11₹ 71.88₹ 70,878
2022-03-10₹ 70.34₹ 70,337
2022-03-09₹ 73.54₹ 72,541
2022-03-07₹ 71.31₹ 71,310
2022-03-06₹ 70.36₹ 70,356
2022-03-05₹ 70.36₹ 70,356
2022-03-04₹ 68.49₹ 68,486
2022-03-02₹ 68.38₹ 68,383
2022-03-01₹ 66.99₹ 65,992
2022-02-28₹ 66.75₹ 65,754
2022-02-27₹ 65.22₹ 65,217
2022-02-26₹ 65.25₹ 65,247
2022-02-25₹ 66.89₹ 65,888
2022-02-24₹ 66.76₹ 65,758
2022-02-23₹ 65.67₹ 64,674
2022-02-22₹ 64.20₹ 64,197
2022-02-21₹ 64.20₹ 64,204
2022-02-20₹ 64.04₹ 64,044
2022-02-19₹ 64.04₹ 64,044
2022-02-18₹ 64.12₹ 64,117

Historical Price of Silver Rate In Punjab

Trend of Silver Rate in Punjab for May 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate61.6360,627
May 21th Rate64.4064,402
Highest May Rate64.464,402
Lowest May Rate58.5757,569

Trend of Silver Rate in Punjab for April 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate64.4064,402
April 30th Rate67.3467,342
Highest April Rate71.6570,651
Lowest April Rate64.3864,384

Trend of Silver Rate in Punjab for March 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate67.3767,369
March 31th Rate66.9965,992
Highest March Rate73.5472,541
Lowest March Rate66.9965,992

Trend of Silver Rate in Punjab for February 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate66.7565,754
February 28th Rate60.0360,031
Highest February Rate66.8965,888
Lowest February Rate60.9659,959

Trend of Silver Rate in Punjab for January 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
January 1st Rate60.0960,091
January 31th Rate62.1362,131
Highest January Rate65.9764,967
Lowest January Rate59.1959,190

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

4. 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.

6. 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.

7. 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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