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Today’s silver rate across all major cities in India
21 May 2022
( Per Gram )
Silver Rates In Punjab for Last 90 Days
Trend of Silver Rate in Punjab for May 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Punjab for April 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Punjab for March 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Punjab for February 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Punjab for January 2022 (Rates per gram for 1Gram / 1Kg Silver)
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.
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 prices are determined based on many factors. Some of the factors are mentioned below.
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.
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 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.
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.
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.
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.
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,
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