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Silver Rate in the Most Popular Indian Cities
Silver Price in Bhubaneswar
Silver is highly sought-after in Bhubaneshwar due to various factors including it being viewed as a conventional form of investment. Silver is extensively used in the form of silverware, gifts during festive occasions and weddings among others. Silver is sought by people across different age groups. Jewellery exhibitions are often held attracting large crowds across the city. Different items of jewellery such as bajubandh, necklaces, bracelets and rings are sold. Handcrafted jewellery by expert craftsmen from Cuttack are also much in demand.
For many customers, silver is a viewed as an effective hedge against inflation. Small investors in Bhubaneswar are more keen on silver than the yellow metal given that the former is comparatively more affordable. Silverware, coins and articles used in rituals is also commonplace. The prices of silver in Bhubaneswar depends on various national and international factors such as correction in the yellow metal owing to a slowdown in China and so forth.
Also Know: Gold Rate in Bhubaneswar
Trend of Silver Rate in Bhubaneswar for April 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| April 1 Rate | Rs.71,700 per kg |
| April 30 Rate | Rs.69,500 per kg |
| Highest Rate in April | Rs.75,200 on 18 April |
| Lowest Rate in April | Rs.68,800 per kg on 28 April and 29 April |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.06% |
Trend of Silver Rate in Bhubaneswar for March 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| March 1 Rate | Rs.70,000 per kg |
| March 28 Rate | Rs.71,300 per kg |
| Highest Rate in March | Rs.77,600 on 9 March |
| Lowest Rate in March | Rs.70,000 per kg on 1 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.85% |
Trend of Silver Rate in Bhubaneswar for February 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| 1 February Rate | Rs.65,300 per kg |
| 28 February Rate | Rs.70,100 per kg |
| Highest Rate in February | Rs.70,600 per kg on 24 February |
| Lowest Rate in February | Rs.64,900 per kg on 7 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 7.35% |
Trend of Silver Rate in Bhubaneswar for January 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| January 1 Rate | Rs.66,600 per kg |
| January 31 Rate | Rs.65,400 per kg |
| Highest Rate in January | Rs.69,300 per kg on 21 January |
| Lowest Rate in January | Rs.64,300 per kg on 10 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -1.80% |
Also Check Silver Price in NearBy Cities of Bhubaneswar
Trend of Silver Rate in Bhubaneswar for December 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| December 1 Rate | Rs.66,300 per kg |
| December 31 Rate | Rs.66,000 per kg |
| Highest Rate in December | Rs.66,300 on 1 December, 28 December, and 29 December |
| Lowest Rate in December | Rs.64,600 per kg on 15 December |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.45% |
Trend of Silver Rate in Bhubaneswar for November 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| November 1 Rate | Rs.68,700 per kg |
| November 30 Rate | Rs.66,500 per kg |
| Highest Rate in November | Rs.71,700 on 13 and 14 November |
| Lowest Rate in November | Rs.66,500 per kg on 30 November |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.20% |
Trend of Silver Rate in Bhubaneswar for October 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| October 1 Rate | Rs.63,700 per kg |
| October 31 Rate | Rs.68,900 per kg |
| Highest Rate in October | Rs.70,300 per kg on 25 October |
| Lowest Rate in October | Rs.63,700 per kg on 1 October |
| Overall Monthly Performance | Incline |
| Percentage Change | 8.16% |
Silver as an investment
Most consumers in Bhubaneshwar view silver as a safe form of investment due to its intrinsic value. Silver is in demand from various segments of people in Bhubaneswar given that the the white precious metal has a store of value. It is, therefore, considered a safe bet during any financial crises.
According to experts, there is a strong demand for silver given that the demand for the yellow metal amongst the rural populace has seen a decline in the recent past.
Physical silver: Silver is used in manifold ways in a wide variety of forms both for ornamentation purposes and paraphernalia associated with various traditional rituals in the city. There are several prominent stores across Bhubaneshwar which offer a wide range of silverware, coins and jewellery.
Intricate silver jewellery with kundan work is much in demand.
Silver contracts: The white precious metal is traded in Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE). The minimum contract which is traded (silver micro) is 1 kg while the initial margin is 5%. Consumers incur various other charges such as stamp duty and brokerage fees among others. Trade in silver futures is influenced by various factors such as price of gold, inflation and industrial demand among others.
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Global Demand for Silver
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity
Silver rates in Bhubaneswar
Silver rates in Bhubaneshwar (1kg) have been hovering around Rs.37,000 in the month of December 2015. 1 kg of the white precious metal was pegged at Rs.35,273 towards end of November before plummeting to a Rs.33,589 in the middle of December, registering a -4.7% decrease over a period of 30 days. The price of the precious metal, however rose by 10% to Rs.37,185 towards the end of December 2015. The silver price witnessed fluctuations from the start of 2015 with 1 kg of silver pegged at Rs.38,463 in January. The silver rate plummeted through the following months with 1 kg of the precious metal pegged at Rs.36,754 in March, Rs.35810 in June and Rs.34970 in September. The prices rose marginally by 4.4% to Rs.36541 in the month of October.
FAQs on Silver Rate Bhubaneswar
- What are the options through which I can invest in Silver?
- What are the factors that affect the prices of Silver in India?
- How can I invest in Silver ETFs in the US Market and what is the limit?
- Will the price of silver remain the same in Bhubaneswar?
- What is the minimum amount of silver that I can purchase on MCX?
You can invest in silver through Silver ETFs of the US Market, Silver Futures Trading, by purchasing silver jewelry, antiques, silver coins, etc.
Some of the factors which affect the prices of silver in India are the rate of Indian rupee in comparison with the US dollar, supply and demand for the metal, technology, global economic trend, etc. Sometimes, certain political factors, either domestic or international, also affect the cost of silver.
You can invest up to $200,000 in Silver ETFs in the US market through HDFC’s international trading accounts, ICICI Direct, Kotak’s international trading accounts, etc.
No, the price of silver is revised on a daily basis. Hence, the price will not be constant throughout.
The minimum amount of silver that you can purchase on MCX is 100 grams.
Silver Rate - Sitemap
