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Today Silver Rates In West bengal

29 May 2022

silver rate today india

₹61.45

( Per Gram )

silver price today

₹61441

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram61.4561.450.00%
10 gram61441614410.00%

Silver Rates In West bengal for Last 90 Days

29 May 2022

Date1 gramBar Silver 1KG
2022-05-29₹ 61.45₹ 61,441
2022-05-28₹ 61.45₹ 61,441
2022-05-27₹ 61.96₹ 60,960
2022-05-26₹ 61.93₹ 60,926
2022-05-25₹ 61.22₹ 61,213
2022-05-24₹ 60.26₹ 60,254
2022-05-23₹ 61.14₹ 61,137
2022-05-22₹ 61.53₹ 60,524
2022-05-21₹ 61.53₹ 60,524
2022-05-20₹ 61.67₹ 60,668
2022-05-19₹ 59.38₹ 59,378
2022-05-18₹ 60.81₹ 59,806
2022-05-17₹ 60.10₹ 60,102
2022-05-16₹ 59.76₹ 58,759
2022-05-15₹ 58.49₹ 58,492
2022-05-14₹ 58.49₹ 58,492
2022-05-13₹ 57.47₹ 57,471
2022-05-12₹ 60.75₹ 59,751
2022-05-11₹ 59.77₹ 58,770
2022-05-10₹ 60.37₹ 60,370
2022-05-09₹ 61.44₹ 61,431
2022-05-08₹ 62.53₹ 61,529
2022-05-07₹ 62.53₹ 61,529
2022-05-06₹ 62.52₹ 61,513
2022-05-05₹ 63.53₹ 62,532
2022-05-04₹ 62.79₹ 61,790
2022-05-03₹ 62.24₹ 62,239
2022-05-02₹ 62.06₹ 62,062
2022-05-01₹ 64.29₹ 64,293
2022-04-30₹ 64.29₹ 64,293
2022-04-29₹ 64.37₹ 64,373
2022-04-28₹ 64.27₹ 64,275
2022-04-27₹ 65.67₹ 64,671
2022-04-26₹ 65.84₹ 64,837
2022-04-25₹ 66.96₹ 65,958
2022-04-24₹ 66.06₹ 66,061
2022-04-23₹ 66.06₹ 66,060
2022-04-22₹ 66.27₹ 66,265
2022-04-21₹ 69.60₹ 68,600
2022-04-20₹ 69.53₹ 68,529
2022-04-19₹ 70.42₹ 70,417
2022-04-18₹ 71.53₹ 70,531
2022-04-17₹ 70.05₹ 70,054
2022-04-16₹ 70.05₹ 70,054
2022-04-15₹ 70.02₹ 70,020
2022-04-14₹ 70.87₹ 69,874
2022-04-13₹ 69.10₹ 69,100
2022-04-11₹ 67.32₹ 67,314
2022-04-10₹ 67.27₹ 67,269
2022-04-09₹ 67.27₹ 67,269
2022-04-08₹ 67.81₹ 66,807
2022-04-07₹ 66.20₹ 66,192
2022-04-06₹ 66.69₹ 65,686
2022-04-05₹ 66.18₹ 66,180
2022-04-04₹ 67.99₹ 66,981
2022-04-03₹ 67.87₹ 66,869
2022-04-02₹ 67.87₹ 66,868
2022-04-01₹ 67.33₹ 67,323
2022-03-31₹ 67.26₹ 67,254
2022-03-30₹ 67.94₹ 66,941
2022-03-29₹ 67.46₹ 67,456
2022-03-28₹ 69.48₹ 69,478
2022-03-27₹ 70.60₹ 69,602
2022-03-26₹ 70.60₹ 69,603
2022-03-25₹ 70.63₹ 69,628
2022-03-24₹ 69.91₹ 68,916
2022-03-23₹ 67.26₹ 67,254
2022-03-22₹ 69.85₹ 68,856
2022-03-21₹ 68.68₹ 67,682
2022-03-20₹ 68.69₹ 67,695
2022-03-19₹ 68.69₹ 67,695
2022-03-18₹ 69.99₹ 68,996
2022-03-17₹ 68.35₹ 68,359
2022-03-16₹ 68.05₹ 68,053
2022-03-15₹ 69.50₹ 68,505
2022-03-14₹ 70.41₹ 70,414
2022-03-13₹ 71.87₹ 70,871
2022-03-12₹ 71.87₹ 70,871
2022-03-11₹ 71.76₹ 70,758
2022-03-10₹ 70.61₹ 69,616
2022-03-09₹ 72.42₹ 72,418
2022-03-07₹ 71.19₹ 71,189
2022-03-06₹ 70.24₹ 70,236
2022-03-05₹ 70.24₹ 70,236
2022-03-04₹ 68.37₹ 68,370
2022-03-02₹ 69.79₹ 68,790
2022-03-01₹ 66.88₹ 65,880
2022-02-28₹ 66.64₹ 65,642
2022-02-27₹ 65.11₹ 65,106
2022-02-26₹ 65.09₹ 65,089

Historical Price of Silver Rate In West bengal

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

Silver Rates1 gram1 Kg
May 1st Rate61.4561,441
May 29th Rate64.2964,293
Highest May Rate64.2964,293
Lowest May Rate57.4757,471

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

Silver Rates1 gram1 Kg
April 1st Rate64.2964,293
April 30th Rate67.3367,323
Highest April Rate71.5370,531
Lowest April Rate64.2764,275

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

Silver Rates1 gram1 Kg
March 1st Rate67.2667,254
March 31th Rate66.8865,880
Highest March Rate72.4272,418
Lowest March Rate66.8865,880

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

Silver Rates1 gram1 Kg
February 1st Rate66.6465,642
February 28th Rate60.9359,929
Highest February Rate66.7865,776
Lowest February Rate60.8659,857

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

Silver Rates1 gram1 Kg
January 1st Rate60.1160,105
January 31th Rate62.0262,025
Highest January Rate65.8664,857
Lowest January Rate59.0959,089

Introduction

West Bengal is one of the culturally rich and diverse states in India. The state has a long history dating back to the colonial era and even before that. Historically, West Bengal occupied a place of prominence in Asia and was seen as a trade hub. Silver in West Bengal therefore has a huge demand and is used for a variety of reasons like industrial, ornamental, commercial or medicinal purposes. Besides personal ornaments, silver is also used for household and pooja items, making it a premium gifting choice.

There are multiple ways to invest in silver. Such investment in silver can be in the form of jewellery, household items, coins, or silver bars. Customers can invest in silver by purchasing it at prevailing rates. Silver rates change on a day to day basis based on the global rates along with other factors. Given below are the details of prices of silver in West Bengal.

How to check the purity of silver?

Silver can be procured in many forms for personal or commercial use. However, customers have to ensure that the silver is pure while purchasing it. All the forms of silver are graded based on their purity levels. Such purity of the precious metal is portrayed in the form of percentages. At such purity levels, the purest form of silver is 99.9% which is thereby considered to be without any contamination or adulteration.

Silver is usually combined or mixed with other metals or alloys. This ensures that the resultant silver in the desired form is sturdy and can avoid deterioration over the period of years. Such combining of other metals eventually reduces the purity levels of silver and hence it is then graded or certified accordingly.

The various levels of purity provided to silver is 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

Customers have to be vigilant while purchasing silver and ensure that all such purchases have proper certification and markings to make it genuine and authentic.

Authentication Markings on Silver

As discussed above, there are many authentication markings that need to be placed on the surface of this metal which assure the customers of its purity and authenticity. Such markings are beneficial to the customers especially at the time of resale of silver in any form. It will assure that the buyers and sellers get the best price for their precious metal and are not cheated of their funds.

The various markings placed on silver to validate its purity are mentioned below.

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

Genuine and Trusted Sources of Purchasing Silver

Customers should purchase silver through authentic sources for such trade to be genuine and without any unnecessary risk. Customers thus get assurance of not only the purity of the silver in any form purchased but also of the seller otherwise there could be a possibility that customers may be cheated and may end up losing their money and not getting proper value for their purchase.

Following are the certified sources of buying or selling silver.

  • Private dealers
  • Authorized sellers
  • Certified e-commerce sellers
  • Banks
  • Certified jewelers

These trusted and genuine sources provide silver in all the following forms especially for retail purchases.

  • Silver coins
  • Silver jewellery
  • Silver bars 
  • Silver Bullions
  • Silver household items

Important Considerations while Purchasing Silver

Customers should consider various factors or raise many concerns at the time of purchasing silver to assure best resale value and genuine product at their disposable. These considerations are mentioned below.

Purpose and scale of purchase

The purpose of purchase is one of the primary considerations while purchasing silver. Once the purpose is determined, customers can then select the scale as well as the best form of silver to be purchased to get maximum returns or resale value.

Form of silver

Form of silver for purchase is a very relevant consideration while making the purchase decision of this metal. Such forms can be silver coins, silver bars or bullions, silver household items or even silver jewellery or in any combination as well.

Current prices of silver

Prices of silver are quite dynamic and hence customers need to observe the trend and the current prices while purchasing silver. Therefore, customers are required to track the silver prices on a regular basis. This will ensure they get the most optimum price while purchasing silver.

Source of purchasing Silver

Silver has to be bought from a genuine or trusted and reputed source as mentioned above, to ensure that the metal purchased is authentic and not a fake.

Proper certification

Another important consideration is the presence of certification and markings on the surface of silver. This is needed to verify and authenticate its purity in any form.

FAQs - Silver Rate in West Bengal

1. What are the factors influencing the rates of silver in any market?

Silver prices being dynamic are affected by many factors. The primary factors are internal or directly related to the prices fluctuations of this metal. Others are secondary or secondary or external factors which also affect the prices of silver. These factors may not have a direct impact to this metal but still affect its prices indirectly.

Following are the various factors affecting silver prices in any market.

Internal Factors

  • Demand (Personal, medicinal, Industrial or Commercial Demand)
  • Supply of Silver in market
  • Ancillary Costs like Mining cost, imports costs and storage or warehousing costs

External factors

  • Government Policies
  • Crude Price Fluctuations
  • Inflation
  • Import and Export Policies
  • Gold Prices
  • Dollar Fluctuations
  • Geo-political scenario

Currently, silver prices were impacted on account of the current pandemic and the introduction of a vaccine for the same. This has made the rates of silver come drastically downwards.

2. What is the highest purity level awarded to silver available in the market?

The highest purity level awarded to silver is 99.9%.

3. What is a Silver ETF?

Silver ETF is the Silver Exchange Traded Fund. At present, our country does not have a notified ETF. However, customers that want to trade in Silver ETF can do so by duly registering on the US Silver ETF. Such registration can be done through a registered stock broker that has access to the US Silver ETF.

4. What tests can be done on silver by buyers and sellers of silver to check its purity?

The various tests done on silver by buyers and sellers to check its purity are ice test, stink test and magnet test.

5. What is the lot size of silver traded on commodity and futures markets?

The lot sizes of silver contracts are 1 kg each.

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