Silver Rate In Raipur
Silver is in high demand in Raipur, where it is sold in a range of ways to suit the city’s diverse needs. For many Raipur residents, the white precious metal is one of the best sources of long-term investment during times of bleak market prospects, slow economic growth, low investment, high inflation, currency devaluations, and other types of financial uncertainty.
Many Raipur citizens choose to invest in silver to preserve their buying power during times of high inflation. Silver is commonly available in Raipur in the form of fashionable silverware, pieces for traditional ceremonies, wedding and festival gifts, and fashionable jewelry.
Many consumers in Raipur favor traditional investment methods and they might be suspicious of certain financial instruments, such as government bonds and securities, for a variety of reasons, including but not limited to rising inflation, market irregularities, and corruption scams, among others. As a result, many consumers turn to traditional investment options such as precious metals, especially silver, which is more inexpensive than gold.
Compare Silver Rate In Raipur (Today & Yesterday)
| Today | Yesterday | Rate Change | |
| Silver (1 gram) | ₹ 71.7 | ₹ 71.4 | ₹ 0.3 ↑ |
|
Bar Silver (1 Kg)
|
₹ 71,700 | ₹ 71,400 | ₹ 300 ↑ |
Silver Price In Raipur For Last 10 Days
| Date | Silver (1 gram) |
Bar Silver (1 Kg)
|
| 11 Mar 2021 | ₹ 71.7 | ₹ 71,700 |
| 10 Mar 2021 | ₹ 71.4 | ₹ 71,400 |
| 09 Mar 2021 | ₹ 70.2 | ₹ 70,200 |
| 08 Mar 2021 | ₹ 71 | ₹ 71,000 |
| 07 Mar 2021 | ₹ 70.1 | ₹ 70,100 |
| 06 Mar 2021 | ₹ 70.1 | ₹ 70,100 |
| 05 Mar 2021 | ₹ 69.8 | ₹ 69,800 |
| 04 Mar 2021 | ₹ 71.6 | ₹ 71,600 |
| 03 Mar 2021 | ₹ 73 | ₹ 73,000 |
| 02 Mar 2021 | ₹ 72 | ₹ 72,000 |
Historical Price of Silver Rate
The trend of Silver Rate in India for February 2021 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | 7.91 % |
The trend of Silver Rate in India for January 2021 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | -2.50 % |
The trend of Silver Rate in India for December 2020 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | -13.62 % |
The trend of Silver Rate in India for November 2020 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | 3.00 % |
The trend of Silver Rate in India for October 2020 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | -0.49 % |
The trend of Silver Rate in India for September 2020 (rates per kg)
| Highest Feb Rate |
Rs. 73300.00/- per Kg
|
| Lowest Feb Rate |
Rs. 67300.00/- per Kg
|
| Overall Performance | Decline |
| Percentage Change | 9.23 % |
What Impacts The Silver Rate In Raipur
The price of silver in Raipur is determined by a variety of national and foreign influences, as well as geopolitical and economic trends. At the start of 2015, 1 kg of the precious metal was valued at Rs.40252, but by the end of the year, it had dropped to Rs.38468. The price of silver started to decline in March and April, with the exception of a fleeting rally in May, when one kg of silver was priced at Rs.40325. The price of one kg of silver, on the other hand, fell by 4.7 percent to Rs.38410 in the subsequent month of June.
In July and August, the downward trend continued at Rs.36110 and Rs.36109, respectively. In September, the price of silver dropped by 0.5 percent to Rs.35898. The price of 1 kg of silver dropped by 2.1 percent in October and November, following a similar pattern. In December, the precious metal was valued at Rs.34343.
Silver As An Investment
The rate of Silver in India is an ever-changing factor but is one of the most popular investment choices. Silver coins and bars are common among Raipur residents. Although many customers are aware that silver has a store of value, they also assume that, unlike paper currency, the white precious metal has no counterparty risk. Many Raipur investors regard silver as one of the most reliable sources of valued investment.
According to market analysts, part of the rationale for silver’s high regard derives from the fact that its valuation is not based on any single cause, making it susceptible to long-term exploitation on a global scale. The price of the precious metal is determined by a variety of factors, including scarcity, production, and currency depreciation.
Physical silver: It is a traditional source of investment for many Raipur residents. Silver is sold in a number of ways, including elaborate silverware and typical female ornaments. Raipur has a number of jewelry stores that sell a variety of silver pieces, including items for traditional rituals and gifts, among other things. Handmade anklets, necklaces, toe rings, belts, and bracelets, custom-made designer set pieces of jewelry are also common. But apart from this, some custom-designed anklets, necklaces, toe rings, belts, and bracelets, the designer set pieces of jewelry are also common.
Silver Contracts: Consumers trade silver futures on three exchanges: the National Multi Commodity Market, the Multi Commodity Exchange, and the National Commodity and Derivatives Exchange (NCDEX). SILVERHEDG is sold in 30 kg increments. SILVERM (silver mini) and SILVER (1000) are sold in 5-kilogram increments. 1 kg of silver micro (SILVERMIC) is exchanged in the 1kg (unit). Silver nano, Silver 1000, and Silver micro have a combined order size of 600 kg at the most.
Why Is Silver A Good Option To Invest?
The following are some of the reasons why you should invest in silver in India:
Demand: Silver has a decent amount of demand in India. The jewelry industry, as well as the manufacturing sector, drives this market.
Supply and Demand: Silver’s supply and demand are increasing in our world. Silver supply declines as demand increases. Silver would be difficult to obtain in the future, and silver prices will increase as a result of the reduced supply. Long-term holders will be in a better financial position as a result.
Common Man’s Gold – Silver is often referred to as “common man’s gold.” Purchasing silver is less difficult than purchasing gold. The price of silver is growing, and buyers will have more options than ever before to invest in silver rather than real estate, shares, and other traditional investments.
Timing the Markets – The silver market can be easily forecast at times. You could wait for the wedding season to begin, or you could wait for festivals to come about. At that moment, there is an increase in demand for silver and gold.
No Bank Accounts – A sizable portion of the population in our country is unfamiliar with the banking/taxation mechanism. People find it difficult to invest in a wide range of options. For them, silver is one of the better investment opportunities.
Easy Storage – In contrast to gold, silver is much easier to store. The NSEL sells a range of e-silver items that can be sold. It helps people to trade in silver without having to think about saving it.
Liquidity – Investors may benefit from silver in emergency cases. Silver metal can be turned into money in the case of a personal financial emergency. Silver would not lose value if the currency does.
Things to Remember Before Buying Silver Jewelry In Raipur
Here are five points to keep in mind if you’re thinking about buying silver anytime soon:
Purity Of Silver: Silver, like gold, can be bought hallmarked. Silver papers are also hallmarked by the Bureau of Indian Standards (BIS). The hallmarking of silver and gold jewelry, on the other hand, is a strictly voluntary method. If the jeweler is selling you an un-hallmarked item, you can ask him to get it hallmarked for you. Silver articles are hallmarked to have verifiable evidence of their purity.
Making Charges: When purchasing silver jewelry, we typically accept the jeweler’s price on face value. However, you should inquire as to what the current selling price of silver is and what the jeweler’s making costs are for the item you want to purchase.
Check For The Buy-Back Policy: Many people sell their old silver or gold jewelry in order to acquire new items. Inquire about the buy-back guarantee for purchasing new silver jewelry or utensils. How much money will you get if you wish to return to the same jeweler and sell the item you bought at a later date? As a result, you should be aware of the different fees that will be factored into the selling price of your jewelry.
Gemstones On Silver Jewelry: Gemstones are often embedded in silver jewelry. You must ensure that the weight of these gemstones has not been factored into the price of silver by your jeweler.
German Silver: There is a distinction to be made between sterling and German silver. The BIS hallmarks sterling silver, which is made up of pure silver and other alloys. German silver, on the other hand, is any metal with silver polish, such as copper or brass. This is not a BIS-certified item.
FAQs on Silver Rate in Raipur
✅ In Raipur, where will I find the best silver?
The highest-grade silver can be bought from Raipur’s leading silver dealers and jewelers.
✅ What factors impact the price of silver in Raipur?
The trend of the bullion market overseas, as well as the trend of the equities market, are some of the factors that impact the silver rate in Raipur. The exchange value of the dollar and the rupee also influence the fluctuating silver values.
✅Does the silver price in Raipur change daily?
The silver rate in Raipur will fluctuate on a daily basis, depending on a variety of factors such as the value of the rupee and the dollar in the international market, as well as the bullion and equity market’s trend. The price of crude oil has a huge effect on the price of platinum.