Silver Rate in Indore

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Silver Price in Indore

Silver is one of the precious metal that many people can afford in Indore. As an alternative to gold, silver has provided better returns than gold. Silver rates in Indore had jumped at a rate of 354% from the year 2008 at the rate Rs.16,525 to Rs.75,020 in the year 2011. Silver prices will steadily rise in the medium to long term as the bullion rises in Indore. This precious metal seems to be stable all over the world even in times of financial uncertainty. Silver has also been called as the ‘poor man’s gold’ as it accessible to the people of Indore who may not be able to afford gold.

Also Check Silver Price in NearBy Cities of Indore

Also check : Gold Rate in Indore

Silver as an Investment:

Jewelry - Buying silver as a jewelry or artefact is expensive than buying silver coins. But a lot of households use silver cutlery. Women like wearing silver ornaments like anklets, chains, rings and earrings. But, when you resell the jewelry, the making charges of about 10% is deducted and a melting charges is levied, which lowers the rate of return.

Coins and bars - Silver can be bought in coins and bars. Silver coins are used in India for gifting or during the puja ceremonies in certain religion. The silver purchases are high during the festive and wedding season. The banks also offer silver coins and bars and give an assay certification as well, but they won’t buy it back from you. Whereas, dealers and jewelers will.

Silver bullion - Through Bullion India, you can buy small quantities of pure silver at a lowest possible price with an option for free storage for no fee or brokerage. The market rates are affordable and the quality is ensured. It is easy to open and operate the account as minimum documentation is needed. You can redeem the holding and take physical delivery of the bullion at your doorstep.

Also Check Silver Price in Top Cities

Trend of Silver Rate in Indore for April 2022 (rates per kg)

• The price of silver in Indore stood at Rs.71,700 per kg on the first day of the month of April 2022.
• The highest rate of the metal was recorded on 18 April where the price was Rs.75,200 per kg. The lowest rate of silver during the month was recorded on 28 and 29 April 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.69,500 per kg.
• During the month, the cost of silver witnessed an overall decline in its performance, the percentage change standing at 3.06%.

Trend of Silver Rate in Indore for March 2022 (rates per kg)

• The price of silver in Indore stood at Rs.70,000 per kg on the first day of the month of March 2022.
• The highest rate of the metal was recorded on 9 March where the price was Rs.71,300 per kg. The lowest rate of silver during the month was recorded on 1 March 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.70,000 per kg.
• During the month, the cost of silver witnessed an overall incline in its performance the percentage change standing at 1.85%.

Trend of Silver Rate in Indore for February 2022 (rates per kg)

• The silver price in Indore stood at Rs.65,300 per kg on the first day of the month of February 2022.
• The highest rate of the metal was recorded on 24 February where the price was Rs.70,600 per kg. The lowest rate of silver during the month was recorded on 7 February 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.64,900 per kg.
• During the month, the price of silver witnessed an overall incline in its performance the percentage change standing at 7.35%.

Trend of Silver Rate in Indore for January 2022 (rates per kg)

• The silver price in Indore stood at Rs.66,600 per kg on the first day of the month of January 2022.
• The highest rate of the metal was recorded on 21 January where the price was Rs.69,300 per kg. The lowest rate of silver during the month was recorded on 10 January 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.64,300 per kg.
• During the month, the price of silver witnessed an overall decline in its performance the percentage change standing at 1.80%.

Trend of Silver Rate in Indore for December 2021 (rates per kg)

• The silver price is Indore stood at Rs.66,300 per kg on the first day of the month of December 2021.
• The highest rate of the precious metal was recorded on 1 December, 28 December, and 29 December where the price was Rs.66,000 per kg. The lowest rate of silver during the month was recorded on 15 December 2021. On this day, a kilogram of the precious metal was traded at the rate of Rs.64,600 per kg.
• During the month, the price of silver witnessed an overall decline in its performance the percentage change standing at 0.45%.

Trend of Silver Rate in Indore for November 2021 (rates per kg)

• The silver price is Indore stood at Rs.68,700 per kg on the first day of the month of November 2021.
• The highest rate of the precious metal was recorded on 13 November 2021 and 14 November where the price was Rs.71,700 per kg. The lowest rate of silver during the month was recorded on 30 November 2021. On this day, a kilogram of the precious metal was traded at the rate of Rs.66,500 per kg.
• During the month, the price of silver witnessed an overall decline in its performance the percentage change standing at 3.20%

Trend of Silver Rate in Indore for October 2021 (rates per kg)

• Silver opened the month of October at Rs.63,700 per kg. This was the lowest recorded price of the white metal for the month in the city.
• Over the month, the price of the bullion witnessed slight fluctuations in Indore. The white metal recorded its highest price for the month on 25th October when a kilo cost Rs.70,300.
• The overall performance of silver witnessed an inclining trend. The percentage change recorded in the rates stood at 8.16%. 

Silver Price Trends in Indore

Silver rate as of 16^th June, 2015 for 1 gram was Rs.39.36. The silver rates were at the highest at Rs.45,600 per kg in July 2014 and the lowest at Rs.35,990 in December 2014. The average value of silver over the last one year has hovered around Rs.39,000 per kg.

The rates are based on various indicators and information provided. People tend to buy silver despite the prices being high, as they believe that the silver bullion value will soar in the coming years.

Where can you Buy Silver from in Indore?

You can buy silver in Indore at R K Jewellers, Anil Jewellers, Vivek Jewellers, Vinayak Jewellers, Kanashri Jewellers, Arpit Jewellers, Subash Chandra Chandmal Jain, Raghunath Prasad & Sons, Hiralal Motilal Saraf, Shri Mahalaxmi Jewellers, etc.

FAQs on Silver Rate in Indore

1. What are the factors that influence the silver rates in Indore?

In Indore, the silver rates are influenced by various factors such as demand, inflation, gold prices, dollar fluctuations, government policies, mining costs, etc.

2. What tests can silver buyers and sellers do to check its purity?

Buyers and sellers use numerous tests on silver to determine its purity, including the ice test, magnet test, and stink test.

3. What is the highest purity level of silver currently available?

The highest purity level of silver available at present is 99.9%.

4. What is a silver ETF?

Silver ETF stands for Silver Exchange Traded Fund. At the moment, India does not have a registered ETF. If you want to trade in Silver ETF, you can do so by registering with the US Silver ETF. This may be done by registering with a registered stock broker who has access to the US Silver ETF.

5. Where can I buy silver?

There are both online and physical options for buying silver. You can buy silver from e-commerce websites, authorised jewellers, banks, etc.

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