Silver Rate in Odisha

  • Today's Silver Rate In Odisha ( 28 May 2022 )

    ₹ 67
    Today's Silver Rate per gram

    Compare Silver Rate In Odisha (Today & Yesterday)

    Rate Change
    Silver (1 gram) ₹ 67 ₹ 66.6 ₹ 0.4 ↑
    Bar Silver (1 Kg) ₹ 67,000 ₹ 66,600 ₹ 400 ↑

    Silver Price In Odisha for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    28 May 2022 ₹ 67 ₹ 67,000
    27 May 2022 ₹ 66.6 ₹ 66,600
    26 May 2022 ₹ 66 ₹ 66,000
    25 May 2022 ₹ 66.5 ₹ 66,500
    24 May 2022 ₹ 66.5 ₹ 66,500
    23 May 2022 ₹ 65.9 ₹ 65,900
    22 May 2022 ₹ 65.9 ₹ 65,900
    21 May 2022 ₹ 65.9 ₹ 65,900
    20 May 2022 ₹ 65.9 ₹ 65,900
    19 May 2022 ₹ 65.1 ₹ 65,100

    Weekly & Monthly Graph of Silver Rate in Odisha

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    *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.

    Silver Rate in Odisha

    Odisha, the temple state of India is known for its culture and history, occupying an important place in the country. Home to the ancient Kalinga kingdom, silver has been an intrinsic component of the state, with it being used for trade, commerce and industrial purposes. Odisha has been on the road to progression, with new cities and job opportunities meaning that people have more income, income which can be used to invest in silver. Silver prices in Odisha depend on international trends, primarily owing to the fact that most of the silver consumed in the state is imported.

    Silver as an investment

    Silver is a cost effective and multi utility metal, offering a host of benefits to owners. Given the risk factors associated with most investments, individuals always have the thought of losing their hard earned money at the back of their mind. Silver is generally risk free, with an insatiable global demand heralding good news for investors. Residents of Odisha view silver as auspicious, making it an integral part of all celebrations in the state. Silver in its physical form and silver contracts are the popular modes of investment in Odisha.

    Silver contracts and futures – Silver futures and contracts are relatively new investment options, with people yet to open up to them wholeheartedly. Investors who are aware of markets and their functioning could choose this, with a great opportunity to make profits. Typically, purchasing silver through markets is limited to people who wish to buy silver in bulk, not for those who want minute quantities of it. One can participate in market trade through the National Commodity Exchange, the Multi Commodity Exchange and the National Commodity and Derivatives Exchange.

    Physical silver – For millions across Odisha, purchasing silver in the form of coins or jewellery continues to be their only way of owning this precious metal. Jewellery and coins can be purchased in different weights, ensuring that one can find something for every budget. Silver coins can be purchased from banks and jewellers, with the ones from banks costing more on account of quality checks and assurance. Jewellery is perhaps the most preferred investment option for people, with it being purchased across the year. Silver utensils, statues, chains, amulets, rings, etc. are some of the popular products available.

    FAQs on Silver Rate in Odisha

    1. How do I choose to buy silver coins or silver bars?
    2. Depending on several factors such as storage capacity and resale options, you could opt for silver coins or bars.

    3. Why do people prefer silver over gold in a lot of markets?
    4. Silver is generally a cheaper method of investment when you compare it with gold. So, it can be bought in bulk also.

    5.  What is the approximate mining cost for silver?
    6. The mining cost of silver refers to the cost to get the silver from the mines. This is a primary factor that affects the final price of silver.

    7. What is the Silver ETF?
    8. Silver ETF is the Silver Exchange Traded Fund. If you want to trade on silver ETF, you should register to the US Silver ETF.

    9. How can I know that my silver is pure?
    10. You can get your silver tested for purity. This can be done via dealers and sellers who are authorised and they will check the marking on silver. Other than this, you can do a few tests like magnet test, stink test, and ice test.

    Read more on Silver

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    News About Silver Rate in Odisha

    • Gold trades at Rs.49,530; silver retailing at Rs.61,900

      10 grams of 24-carat gold is trading at Rs 49,530 today while the cost of 22-carat gold is Rs.45,400.

      The price of one kg of silver today is Rs.61,900.

      09 February 2022

    • Gold and silver prices today

      The price of 24K spot gold in India dropped to Rs.47270 and was lower by 0.37%.

      The price of gold on MCX in India surged 0.07% to Rs.47080 per 10 gram. The silver futures on MCX slipped nearly 0.01% or Rs.6.4 per kg to the price level of Rs.63544 per kg, while the price of platinum grew 0.05% to $1078.0 per Troy ounce.  

      03 September 2021

    • Silver futures climb by nearly 0.86 percent on Friday

      On the Multi Commodity Exchange (MCX), the futures of silver increased nearly 0.86 percent on Friday. The hike saw a kilogram of the white metal cost Rs.68,441. Compared to previous day’s price, the precious metal recorded an increase of Rs.585.6 for every kilo.

      Gold futures price witnessed a hike of 0.3 percent on the MCX and cost Rs.46,921 for every 10 grams. The gold spot price was down by Rs.140.8 even though global gold spot prices were up by 0.74 percent or 13.06 dollars to cost $1785.8 per troy ounce.

      Globally, silver price edged higher by 1.21 percent and was trading at $26.2 per troy ounce.

      18 June 2021

    • Gold and silver prices slip in the domestic markets

      The value of gold dipped from Rs.48,390 per 10 grams to Rs.48,220 per 10 grams. Silver prices were trading at Rs.66,600 per kg. In New Delhi, the price of 22-karat gold had declined to Rs.44,200 per 10 grams and 24-karat gold was priced at Rs.45,950 per 10 grams.

      The import of gold in the country was reduced by 3.3% to $26.11 billion in April 2020 and February 2021. In the international market, gold prices declined by 1% as investors shifted to other assets such as Treasury bonds and the U.S. dollar.

      Spot gold declined by 0.8% to $1,730.45 per ounce and U.S. gold futures had declined by 0.7% to $1,729.60 per ounce.

      24 March 2021

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