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Also Check Silver Price in Metro Cities
Silver Rate in West Bengal
West Bengal has for long been the centre of power and administration in India, acting as the capital of British India before independence. A rich legacy combined with abundant natural resources made West Bengal one of the most prosperous states in the country, with residents known for their acute investment sense. One of the most densely populated places in the world, the state is known to have a soft corner for silver, which is viewed as auspicious, making it an intrinsic part of life here. Being a hub of commerce and trade, certain cities in the state have witnessed huge growth, with silver being the primary mode of making payments in the past. Today, silver prices in West Bengal are dependent on international prices, given the fact that most of the silver used in the state is imported.
- Also Know: Gold Rate In West Bengal
Trend of Silver Rate in West Bengal 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 West Bengal 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 West Bengal 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 West Bengal 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% |
Trend of Silver Rate in West Bengal 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 West Bengal 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% |
- Also Check: Silver Rate in Kolkata
Silver as an investment
Investing in silver is a safe and smart move, with the metal in high demand across the globe. The versatility mixed with utility make silver ideal for multiple industries, ensuring that owners can get quick cash for their silver during emergencies, making it extremely liquid. Limited availability combined with the demand could see the silver price is going up in the coming years, offering high appreciation on investment. Two of the most popular means of investing in silver in West Bengal are through silver contracts/futures or by purchasing silver in its physical form.
Silver contracts – The growing Indian market has enabled people to trade in silver, with silver contracts and futures providing an excellent opportunity to make profits. One can participate in silver trade through the Multi Commodity Exchange, the National Multi Commodity Exchange and the National Commodity and Derivatives Exchange. Understanding how the markets function could go a long way in enhancing your investment, provided one plays it safe and stays abreast of current trends.
Physical silver – Purchasing silver in the form of coins, bars or jewellery continues to be the most preferred form of investing in this metal. The markets are generally out of bound for most people in West Bengal, which mean that jewellers and banks are their mainstay when it comes to buying it. Silver jewellery is traditionally passed on as family heirlooms and is integral to most celebrations and festivals in the state. While it doesn’t make sense to purchase jewellery if the intention is to use it only as an investment, it does serve dual roles. Coins and bars, on the other hand, are purchased purely as an investment, as these can be sold readily and there are no wastage or making charges associated with them.
FAQs on Silver Rate in West Bengal
- What are the tests I can do on silver to check its purity?
- What is the Silver ETF?
- How do I choose to buy silver coins or silver bars?
- How much silver is there in silver contracts?
- When can I get the maximum return on the silver that I buy?
The tests that can be done on silver are the ice test, stink test and magnet test.
Silver ETF is the Silver Exchange Traded Fund. If you want to trade on silver ETF, you should register to the US Silver ETF.
Depending on several factors such as storage capacity and resale options, you could opt for silver coins or bars.
Silver contracts deliver up to 30kg of silver.
When you invest in silver in the form of silver coins and silver bars and bullions, it provides the maximum returns to you when you liquidate the investment and sell the silver that you have.
Read more on Silver
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