• Silver Rate in West Bengal

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    26 May 2018 ₹ 43.6 ₹ 43,600
    25 May 2018 ₹ 43.8 ₹ 43,800
    24 May 2018 ₹ 43.3 ₹ 43,300
    23 May 2018 ₹ 43.5 ₹ 43,500
    22 May 2018 ₹ 43.2 ₹ 43,200
    21 May 2018 ₹ 43.1 ₹ 43,100
    20 May 2018 ₹ 43.1 ₹ 43,100
    18 May 2018 ₹ 43 ₹ 43,000
    17 May 2018 ₹ 43.2 ₹ 43,200

    *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 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.

    Trend of Silver Rate in West Bengal for April 2018 (rates per kg)

    Parameters Silver price (per kg)
    April 1 Rate Rs.41,400 per kg
    April 30 Rate Rs.42,300 per kg
    Highest Rate in April Rs.43,800 per kg on 20 and 22 April
    Lowest Rate in April Rs.41,000 per kg on 5 April
    Overall Monthly Performance Incline
    Percentage Change 2.17%

    Trend of Silver Rate in West Bengal for March 2018 (rates per kg)

    Parameters Silver price (per kg)
    March 1 Rate Rs.41,100 per kg
    March 31 Rate Rs.41,400 per kg
    Highest Rate in March Rs.41,900 per kg on 7 March
    Lowest Rate in March Rs.41,000 per kg on 19 and 21 March
    Overall Monthly Performance Incline
    Percentage Change 0.72%

    Details of Silver Price in West Bengal (1 Kg) - Till December 2015

    Individuals who are keen on buying silver in West Bengal would have to pay around Rs 35,977 to buy one kg of silver (as of December 21, 2015). The price of silver in the state has been anything but static over the last year, hovering around the Rs 39,000 mark per kg for most of the year. Silver prices shot up in May, touching Rs 43,500 per kg and breached the Rs 40,000 barrier again in October. The lowest prices were witnessed in March and December, when 1 kg of silver was trading for as low as Rs 35,250 and Rs 35,450 per kg respectively.

    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 price of silver 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.

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