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Today Silver Rates In Rajasthan

13 Jul 2024

silver rate today india

₹62.65

( Per Gram )

silver price today

₹62657

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram62.650100.00%
10 gram626570100.00%

Silver Rates In Rajasthan for Last 90 Days

13 Jul 2024

Date1 gramBar Silver 1KG
2024-07-10₹ 63.65₹ 62,657
IDFC MILLENIA MALE

Historical Price of Silver Rate In Rajasthan

Trend of Silver Rate in Rajasthan for July 2024 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 10th Rate63.6562,657
July 10th Rate63.6562,657
Highest July Rate63.6562,657
Lowest July Rate63.6562,657

Introduction

Rajasthan is termed as the land of riches. It has been home to many royal houses in the past, and continues that tradition even today. When one thinks of Rajasthan, one cannot but conjure up images of palatial palaces and royal courts. The rich heritage of the state and the lavish lifestyle of the royals have resulted in a constantly huge demand for the precious metals like silver and gold and other precious stones.

Silver is a crucial part of the culture for not only ornamental purposes but also for ritualistic purposes. Silver is of great importance and is often offered in the traditional ceremonies as well as a form of auspicious gift. Due to the above reasons coupled with the fact that silver is an excelled investment option, the demand for silver is always high in the state of Rajasthan.

Given below are the current prices of silver in the country’s royal state and the other factors that have to be considered while purchasing and selling silver or investing in silver.

Highlights of Silver Rates in the Past Month

Silver rate in the month of October 2021 saw an increasing trend as is the case since the start of the current pandemic. Silver and Gold have been perceived as a safer and steady mode of investment as compared to the volatility in the money market or the equity market. The highest price of silver in the past month was Rs. 63,800 per kg or Rs. 63.8 per gram whereas the lowest price was Rs. 60,200 per kg or Rs. 60.2 per gram. The metal saw a net increase in the prices for the month with the closing rate of Rs. 61,000 per kg or Rs. 61 per gram.

Also Read: Gold Rate Today

Silver as an Investment

Silver and Gold, as mentioned above, have proved to be a safer and steadier option for investment in the current market scenario. Customers have also traditionally preferred these metals for investment purposes as the return on investment is usually higher and the commodity market is less volatile for these metals.

Silver can be used for personal as well as industrial or commercial purposes. Also, the prices of silver as compared to gold are quite cheaper and silver is available abundantly. These features make it an attractive investment option.

Silver is graded in various purity levels based on which the prices of silver are determined along with other relevant factors. Customers have to face a reduction in the value of silver to the extent of about 15% of its value on account of marking cost or other metals or precious stones embedded in it. It is therefore advisable to invest in the following forms of silver to ensure maximum resale value or return on investment.

  • Silver Coins
  • Silver Bars
  • Silver Bullions
  • Silver Ingots

Factors influencing Prices of Silver

Silver rates are dynamic in nature and change constantly. There are many factors that affect the rates of silver and change them on a day to day basis. These factors are mentioned below.

Demand for Silver 

The demand for silver is the driving force for the prices of silver. This demand includes the personal as well as industrial demand for the metal.

External factors

There are many external factors that affect the prices of silver. these factors range from like geo-political situations, increase in crude oil prices, change in the Government policies or the import and export policies, dollar fluctuations

Associated Costs

The associated costs or the ancillary costs add to the final price of the product and increase it. These associated costs are mining costs, import costs, storage and warehousing costs, marking costs, etc.

Gold prices

The gold prices in the market are also another factor that influences the rate of silver. Silver prices generally follow the trend followed by the gold prices.

Inflation

Inflation of any country has a direct impact on the silver rates. They are in direct correlation which means that an increase in the inflation will result in the increase in silver rates.

Purity of Silver

Silver is graded based on its purity and accordingly priced in the market. Silver having the highest purity level is priced highest as compared to silver in combination with other metals which reduces its purity level. The highest purity level of silver is denoted by 9999 mark which means that silver is 99.9% pure.

There are many tests as well that the sellers or jewelers use to determine the purity of silver prima facie. These tests are mentioned below.

  • Ice test is performed on silver where an ice cube can be placed on the silver coin or bar and if the ice melts faster, then silver is considered to be pure.
  • Another test is the stink test as sterling silver does not have any odor so if the silver presented for the test has some stink then such silver is not pure.
  • Magnet test is also done on silver to determine its purity. If the silver presented for the test is attracted to the magnet or sticks to the magnet it is not pure.

Also Read: Gold Rate In Rajasthan

FAQs of Today's Silver Rate in Rajasthan

1. What are the various grades and purity levels attached/allotted to silver?

The various grades or levels of purity associated with silver are tabled 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

2. What are the various forms in which silver is available to customers?

Silver is available in various forms like,

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

3. Is certification important while purchasing silver?

Yes. Proper certification ensures that the customers get the best resale price for silver and the silver purchased is authentic and genuine as well as of the certified purity as marked on the metal.

4. What are the factors to be considered while purchasing silver?

The various factors to be considered while purchasing silver are mentioned below.

  • Changing rates of silver
  • Form of silver to be purchased and the purpose of purchasing silver.
  • Buying silver from trusted and authenticated sources especially when buying in larger quantities.
  • Ensuring proper certification of the silver to be purchased along with all the necessary markings to authenticate the purity of the metal and the genuineness of the purchase.

5. Can silver be used as an investment tool?

Yes. Silver can be used as an investment tool as it is cheaper and abundantly available.

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