Silver Rate in Shimla
Shimla, the former summer city of British India, has a special place in our country’s culture. The city is a popular tourist destination because of its scenic beauty and distinct cultural identity. Silver is an important part of life here, and it is worn as a decoration to complement the local style of wear. The Silver rate in Shimla is largely determined by foreign markets, which fluctuate on a daily basis.
Compare The Silver Rate In Shimla (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 Rate In Shimla 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 Shimla 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 Shimla 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 Shimla 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 Shimla 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 Shimla 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 Shimla 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 % |
Silver As An Investment
The rate of Silver in India varies from state to state and Silver is regarded as a safe and reliable metal that provides fair returns on investment. It is a lifeline for millions of people in the state who cannot afford gold or other precious metals, allowing them to create a savings portfolio without having to clear their bank accounts. Silver is ideal for both long and short-term investments because of its high demand and restricted availability. With millions of people in the world considering silver to be auspicious, it has a dual purpose: it becomes a part of their way of life as well as an external investment.
Silver can be bought in its actual form or by silver contracts, which are two common ways to invest in the white metal.
Physical Silver: Silver can be molded and cut into a variety of shapes and sizes, making it a versatile metal that can be tailored to a specific budget. Silver bars, coins, and jewelry are still very common in Shimla, with jewelers all over the city selling bangles, necklaces, rings, and other items at reasonable prices. Silver jewelry is a significant part of Shimla’s festivals and functions, since it is known as a family heirloom and handed on from generation to generation, increasing its importance. Silver coins and bars come with a variety of weights and are a safer investment choice since there are no manufacturing or waste costs.
Silver Contracts: Silver futures and options are perfect for those who are well-versed in stocks and keep a close eye on them. Individuals have a chance to make fast money by engaging in rising trading opportunities. Silver can be traded on three different platforms: the National Multi Commodity Exchange, the National Commodities and Derivatives Exchange, and the Multi Commodity Exchange.
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 Shimla
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 Shimla
✅ What is the current Silver market price in Shimla?
The current Silver price per gram in Shimla is 71.50, the current Silver rate per kilogram in Shimla is 71,500.00, the current Silver price per ounce in Shimla is 2,223.90, and the current Silver price per tola in Shimla is 833.96.
✅ What is the expected future silver rate in Shimla?
The retail Silver price forecast in Shimla per gram in a month is estimated to be about 72.75. For the next seven days, the silver rate in Shimla per gram is forecast to be about 71.50. Silver is expected to cost about 72.95 per gram in Shimla over the next 90 days.
✅ In the last three months, what was the highest and lowest Silver rate in Shimla?
The lowest Silver rate in the Shimla retail sector per gram in the last three months was 66.70 on 14-Dec-2020, and the highest market Silver price in Shimla per gram was 79.20 on 01-Feb-2021? The current market silver rate in Shimla is 71.50 per gram.
✅ What does the term “925 Silver Cost” mean?
925 Silver is a metal composed of 92.5 % silver and 7.5 % other metals such as copper or nickel.
✅ Is the price of silver the same all over India?
No, the price of silver varies from state to state. The price of silver in each state is determined by import prices and taxes. As a result, the price of silver varies by territory.