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Today Silver Rates In Punjab

25 Jul 2021

gold rate

₹67.13

( Per Gram )

gold rate

₹67131

1 Kg

TodayYesterdayChange(%)
1 gram67.1367.18-0.07%
10 gram6713167177-0.07%

Silver Rates In Punjab for Last 90 Days

25 Jul 2021

Date1 gramBar Silver 1KG
2021-07-2567.1367,131
2021-07-2467.1867,177
2021-07-2368.7467,745
2021-07-2267.4167,409
2021-07-2167.5566,548
2021-07-2067.2867,282
2021-07-1969.6268,622
2021-07-1869.6368,627
2021-07-1769.6568,646
2021-07-1670.3170,311
2021-07-1570.9369,933
2021-07-1469.4769,471
2021-07-1370.0170,008
2021-07-1270.6469,641
2021-07-1170.6469,641
2021-07-1070.8569,848
2021-07-0969.4469,439
2021-07-0870.1170,113
2021-07-0770.1270,117
2021-07-0670.4470,443
2021-07-0571.5970,595
2021-07-0471.5970,595
2021-07-0371.6370,629
2021-07-0270.5569,553
2021-07-0170.5269,516
2021-06-3069.6468,643
2021-06-2969.4769,474
2021-06-2869.4269,415
2021-06-2769.3869,381
2021-06-2669.2069,205
2021-06-2569.0569,054
2021-06-2469.9168,908
2021-06-2369.7468,737
2021-06-2269.0669,060
2021-06-1969.7368,729
2021-06-1869.0869,084
2021-06-1772.2572,251
2021-06-1673.6872,675
2021-06-1573.0573,054
2021-06-1473.2573,248
2021-06-1373.2573,248
2021-06-1273.3573,349
2021-06-1173.0873,079
2021-06-1073.7872,782
2021-06-0972.2972,291
2021-06-0873.8472,835
2021-06-0773.6072,603
2021-06-0673.6072,603
2021-06-0572.4972,488
2021-06-0472.8371,834
2021-06-0374.5773,568
2021-06-0273.9272,920
2021-06-0173.8372,832
2021-05-3172.4172,407
2021-05-3072.4172,407
2021-05-2972.2072,201
2021-05-2873.5472,540
2021-05-2772.0972,091
2021-05-2673.9672,960
2021-05-2572.4472,445
2021-05-2472.9871,982
2021-05-2372.9871,982
2021-05-2272.0272,019
2021-05-2173.5872,576
2021-05-2072.1572,146
2021-05-1974.8573,852
2021-05-1874.9373,935
2021-05-1772.9871,979
2021-05-1672.9871,979
2021-05-1572.8671,855
2021-05-1471.2771,272
2021-05-1372.5571,547
2021-05-1272.4672,457
2021-05-1172.8871,875
2021-05-1072.0772,069
2021-05-0972.0772,069
2021-05-0872.0472,036
2021-05-0772.0472,039
2021-05-0670.9869,984
2021-05-0570.9269,924
2021-05-0471.0871,079
2021-05-0369.7768,772
2021-05-0269.7768,772
2021-05-0169.7768,772
2021-04-3069.3669,364
2021-04-2970.9669,958
2021-04-2870.2770,266
2021-04-2770.0970,089
2021-04-2670.7369,727
2021-04-2570.7369,727

Historical Price of Silver Rate In Punjab

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

Silver Rates1 gram1 Kg
February 1st Rate70.3370,330
February 28th Rate65.9364,927
Highest February Rate76.6775,667
Lowest February Rate65.9364,927

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

Silver Rates1 gram1 Kg
March 1st Rate63.2363,235
March 31th Rate70.3370,330
Highest March Rate70.3770,369
Lowest March Rate63.2363,235

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

Silver Rates1 gram1 Kg
April 1st Rate69.3669,364
April 30th Rate64.9563,951
Highest April Rate72.5771,570
Lowest April Rate64.9563,951

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

Silver Rates1 gram1 Kg
May 1st Rate72.4172,407
May 31th Rate69.7768,772
Highest May Rate74.9373,935
Lowest May Rate69.7768,772

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

Silver Rates1 gram1 Kg
June 1st Rate69.6468,643
June 30th Rate73.8372,832
Highest June Rate74.5773,568
Lowest June Rate69.6468,643

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

Silver Rates1 gram1 Kg
July 1st Rate67.1367,131
July 25th Rate70.5269,516
Highest July Rate71.6370,629
Lowest July Rate67.5566,548

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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