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Silver Rate in the Most Popular Indian Cities
Silver Price in Visakhapatnam
Silver rates in Visakhapatnam depend on the demand, supply and use of the white precious metal in several domains such as industries, photography, jewelry, silverware and coins among others. Silver price patterns in Visakhapatnam are determined by jewelry and retail investment, robust industrial demand, and solar power expansion in addition to medicinal uses of silver among others.
Industry experts point out that production patterns and utilization of gold and silver differ which has an impact on the prices of the precious metals in the long term. Demand for silver shoots up if the government raises tariffs on gold imports. Also, local taxes, transportation costs besides additional costs by jewelry stores influence silver rates in Visakhapatnam.
Silver as an Investment
There are several pertinent factors to consider before investing in silver such as liquidity, storage and resale value in Visakhapatnam. Silver jewelry is more in demand in rural areas across the country whereas urban areas prefer investment in traditional silverware and coins in terms of investment, gift articles and as a status symbol.
Jewelry - Silver articles such as tableware and idols made of silver are much more in demand in Visakhapatnam in addition to gifting silver utensils during festive and auspicious occasions. However, silver jewelry is also gaining increasing popularity owing to aspirational and aesthetics-driven youngsters. Intriguingly, investment in silverware has been on a decline due to under-karating in the recent past.
Coins - Silver coins have intrinsic value or numismatic value, scarcity value and metal value, which largely depends on market demand and speculation. Coins are a solid investment in that you own real pure silver and not some paper backed by a bank.
ETFs - Silver exchange traded funds (ETFs) are not currently available in the country. Investors can nevertheless trade in silver ETFs in the US market. Investors can also buy stocks of reputed silver mining companies listed on the Nasdaq or Dow stock exchanges.
Where to Buy Silver in Visakhapatnam?
There are several big silver showrooms which offer pure Hallmarked silver such as Khazana jewellery, Joyalukkas, Sri Kanakadurga Jewellers, Lalithambika Jewellers and GRT jewellers among many others. Daily fluctuation in silver prices is caused by short-term movements in the market which can be offset by long-term investors who can invest in silver and resell at lucrative rates.
Also check : Gold Rate in Visakhapatnam
Trend of Silver Rate in Visakhapatnam 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 Visakhapatnam 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 Visakhapatnam for February 2022 (rates per kg)
Parameters | Silver Price (per kg) |
February 1 Rate | Rs.65,300 per kg |
February 28 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% |
Also Check Silver Price in NearBy Cities of Visakhapatnam
Silver Rate In Nagpur | Silver Rate In Bhubaneswar | Silver Rate In Raipur |
Silver Rate In Hyderabad | Silver Rate In Vijayawada |
Trend of Silver Rate in Visakhapatnam 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 on 21 January |
Lowest Rate in January | Rs.64,300 per kg on 10 January |
Overall Monthly Performance | Decline |
Percentage Change | -1.80% |
Trend of Silver Rate in Visakhapatnam 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, 28, 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 Visakhapatnam for November 2021 (rates per kg)
Parameters | Silver Price (per kg) |
Rate on 1 November 2021 | Rs.68,700 per kg |
Rate on 30 November 2021 | Rs.66,500 per kg |
Highest Rate in November | Rs.71,700 per kg 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 Visakhapatnam 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 on 25 October 2021 |
Lowest Rate in October | Rs.63,700 per kg on 1 October 2021 |
Overall Monthly Performance | Incline |
Percentage Change | 8.16% |
FAQs on Silver Rate in Visakhapatna
- Should I purchase hallmarked silver?
- How can I tell whether my silver is pure or not?
- Is it possible to trade silver bullions and coins on the futures market?
- When is the best time to buy silver for me?
- What factors that influence the price of silver in India?
Yes, silver products that are hallmarked indicate they are pure.
You may have your silver analysed to see if it's pure. This can be done through authorised dealers and sellers who will inspect the silver markings. Aside from that, you can perform tests such as the magnet test, the stench test, and the ice test.
India does not yet have a silver trading platform. You can, however, invest in silver on the futures market in the form of silver bars, coins, and bullions.
When prices are low, it is the greatest time to buy silver. You can monitor silver prices on a daily basis and analyse their trends.
In India, variables such as inflation, gold prices, industrial demand, mining costs, and bulk purchases influence silver prices.
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Global Demand for Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins