Silver Rate In Anand _{Last Updated : 28 Sep 2023}

Factors influencing silver's price in Anand

The cost of silver in India is affected by a number of variables. The fluctuation in the currency and oil prices in India is the main factor influencing its prices. Since silver is regarded as a haven for investors, its silver price will rise if the price of oil and the rupee in India fall.

Moreover, silver is bought for auspicious occasions like weddings, childbirth, festivals, etc. The price of silver may also be affected by these circumstances. The demand for silver may surge throughout the holiday season, which could push up its price.

Trend of Silver Rate in Anand for July 2023 (rates per kg)

Trend of Monthly Silver Rate in Anand for July 2023

One kilogram of silver had an opening price of Rs.75,700 in Anand for the month of July. The price of the precious white metal, however, fluctuated during the next few days and showed an upward trend in its performance. The cost of silver was Rs.80,000 per kilogram on the final day of the month of July.

On 20 July 2023, the price of silver metal reached its maximum level in the city of Anand, when one kilogram of silver was sold for Rs.82,400. On 3 July 2023, the price of silver per kilogram reached a lowest level of Rs.75,500.

As a result, Anand's silver prices showed a rising trend in the month of July 2023. For the month of July, silver prices changed by 5.68% of a percentage.

Trend of Silver Rate in Anand for June 2023 (rates per kg)

Trend of Silver Rate in Anand for May 2023 (rates per kg)

FAQs on Silver Rate in Anand

1. What factors should I consider before purchasing silver in Anand?

   It is important to research and monitor silver rates to make an informed decision. Additionally, you should decide on the form of silver you want to buy, such as bars, coins, or jewellery. Ensure that the silver you purchase has certification for purity, preferably from trusted sources.

2. How can I sell silver in Anand?

   Selling silver in Anand is relatively straightforward due to the high demand for silver in the market. Intricately designed silver jewellery may fetch lower prices compared to the weight of the precious metal. Generally, selling silver coins or bars gets better rates than selling jewellery.

3. What are the different ways to invest in silver in Anand?

   In Anand, there are various ways to invest in silver. You can invest in silver by purchasing silver jewellery, coins, or other household items. Each option has different considerations, such as making charges, melting charges, and storage requirements.

4. How can I buy silver coins in Anand?

   To buy silver coins in Anand, you have multiple avenues. You can visit jewellery showrooms or banks that sell certified and assayed silver coins. However, purchasing from banks may incur additional charges for damage-proof packing and a purity assay certificate, making it slightly more expensive.

5. What are silver ETFs in Anand?

   Silver Exchange-Traded Funds (ETFs) are investment funds that track the performance of silver or silver-related assets and trade on stock exchanges. Silver ETFs let investors to invest in silver without the need to physically own and store the metal. Instead, investors can purchase ETF shares representing ownership in the underlying silver assets.

6. What determines the value of silver ETFs?

   The value of silver ETF shares fluctuates based on the market price of silver or the silver-related assets held by the fund. Examples of silver ETFs include iShares Silver Trust and Aberdeen Standard Physical Silver Shares ETF.

7. Is purchasing silver from a bank a safer and more convenient option?

   Buying silver from a bank can be a convenient and secure option. Banks offer hallmarked silver bars and coins in various weights and are generally considered reliable for buying precious metals. However, banks may charge an additional processing fee for bulk purchases of silver.

8. Which is the purest form of silver in Anand?

   The purest form of silver in Anand is 999 fine silvers, which denotes a silver purity of 99.9%. This type of silver is often referred to as 'three nines fine' or 'fine silver'.

9. How can I ensure the purity of silver while purchasing it?

   To ensure the purity of silver, make sure to purchase silver that is certified by the Bureau of Indian Standards (BIS). BIS-recognized Assaying and Hallmarking Centres stamp silver and silver alloys with standard marks, including the BIS mark, purity/fineness, assay centre's identification mark, year of marking, and jeweller's mark. Verifying these marks can help ensure the authenticity and purity of the silver you are buying.

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