*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Today's Silver Price in Bhopal
According to experts, most consumers gravitate towards conventional forms of investment such as precious metals and more so towards silver which is more affordable than the yellow metal. Silver is used in a variety of industries apart from fashionable and trendy silverware and articles which are commonplace. Silver rate today in Bhopal depends on various international and national developments such as inflation, investment flow and correction in the price of gold among other factors.
Also Know - Gold Rate in Bhopal
Trend of Silver Rate in Bhopal for March 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| March 1 Rate | Rs.70,200 per kg |
| March 31 Rate | Rs.77,500per kg |
| Highest Rate in March | Rs.77,500 per kg on 31 March |
| Lowest Rate in March | Rs.67,300 per kg on 10 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 9.41% |
Trend of Silver Rate in Bhopal for February 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| February 1 Rate | Rs.74,800per kg |
| February 28 Rate | Rs.69,200per kg |
| Highest Rate in February | Rs.77,300 per kg on 2 February |
| Lowest Rate in February | Rs.69,000 per kg on 27 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -8.09% |
Trend of Silver Rate in Bhopal for January 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| January 1 Rate | Rs.74,500per kg |
| January 31 Rate | Rs.74,300per kg |
| Highest Rate in January | Rs.75,800 per kg on 16 January and 17 January |
| Lowest Rate in January | Rs.73,500 per kg on 6 January and 19 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.26% |
Trend of Silver Rate in Bhopal for December 2022 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| December 1 Rate | Rs.69,800 per kg |
| December 31 Rate | Rs.74,300 per kg |
| Highest Rate in December | Rs.74,700 per kg on 21 December and 22 December |
| Lowest Rate in December | Rs.69,800 per kg on 1 December |
| Overall Monthly Performance | Incline |
| Percentage Change | 6.05% |
Today Silver price in Bhopal
The rate of silver in Bhopal has been plummeting.The precious white metal is pegged at Rs.34,415 per kg, a -5.1% decrease from Rs.36,265 in the month of November. The white precious metal which was pegged at Rs.39,985 in January plummeted in the following months of February, March and April at Rs.37436, Rs.36424 and Rs.36340 respectively. The silver prices continued the downward trend in June and July barring mini rallies. The white precious metal which was pegged at Rs.35476 towards the end of August registered a -1.2% decrease towards the end of September at Rs.35049.
Silver as an investment in Bhopal
Many view the white precious metal as a safe haven in terms of investment. Silver is regarded as a store of wealth given its intrinsic value. There is a view that in the event of a government default, the price of the yellow metal may shoot up. During times of economic instability, most consumers turn to traditional investment forms such as silver.
Physical silver: Most consumers buy silver in the form of jewellery or artefacts. There are several prominent stores across Bhopal which offer a wide range of silverware, coins and jewellery including designer silver jewellery with intricate kundan work. Silver Bars and Silver Coins are also sought.
Silver contracts: Silver is traded in Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). Silver micro is traded in 1 kg. The initial margin is 5%. Customers should bear various charges such as brokerage, exchange levy and stamp duty among others.
Also Check Silver Price in NearBy Cities of Bhopal
FAQs on Silver Rate in Bhopal
- Is silver a good investment in Bhopal?
- What are the different ways to invest in silver in Bhopal?
- Can I purchase silver from banks in Bhopal?
- When is the best time to purchase silver in Bhopal?
- Should I purchase silver bars or coins in Bhopal?
Yes. Silver is a good investment option and its price is less compared to gold. It is used in making jewellery, silverware, mirrors, batteries, electrical wiring, and more.
You can invest in silver in multiple ways such as silver jewellery, coins, bars, etc.
Yes. You can purchase silver bars, coins, and more from banks.
The best time to purchase silver is when the rates are low. For this, you will need to check silver prices on a daily basis in order to analyse the price trend.
If you want to make a small investment, you can purchase silver coins. However, silver bars are a preferred choice to receive maximum returns if you want to purchase bulk stocks.
Read More on Silver
Facts About Silver- About Silver Mining
- Amazing Facts About Silver
- Global Demand and Silver Rates in India
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity
- Silver – Poor Man’s Gold
- What Will Happen To Silver Prices In Five Years?
- Lustre Regained by Silver Miners, Good Time to Invest in Silver?
