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Silver Rate in Ahmedabad

Silver is one of the precious metals utilised for making jewelry and bought as an investment. Buying Silver is highly popular during festive seasons as it is a common ornament among Indian households.

Ahmedabad is the largest city in Gujarat. The city is an important base for trading Silver. Silver can be traded in the form of bars and coins. The denominations can range between 10 grams to 500 grams. For individuals who like to trade Silver in large quantities, they can invest in Silver bullion. Silver bullion is available in the weights of 500 grams to 5 kilos. Apart from bullion, Silver is readily used in the form of jewellery and utensils.

In short, Ahmedabad sees Silver as a lucrative investment option. Silver is the second most preferred precious metal after gold.

Factors affecting Silver Rate in Ahmedabad

The rate of Silver in Ahmedabad is dependent on multiple factors. These factors are mainly external and coincide with global conventional patterns. The entire Silver market and the prevailing rate is based on the global market of metals, its demand and supply, movement and inflation.

How to invest in Silver in Ahmedabad?

You can invest in Silver through the following ways:

Silver Coins - This format is the most feasible form of investing in Silver. The coins can be bought in weights from 10 grams to 500 grams. When buying a Silver coin, ensure that your Silver is embossed, marked, stamped or engraved with a standard mark which certifies it purity and authenticity. Also, a certificate is issued when you buy a Silver coin.

Bullion - For traders and jewellery makers, investing in Silver bullion is a suitable option. Bullion is in the form of bars that range from 500 grams up to 5 kilos. This type of investment is cheaper as a larger physical quantity is being held. Also, Silver bullion is hard to counterfeit as each bar is engraved with a standard serial number. Silver bullion can be easily traded for up to 75% of its value in the market at a particular date. Additionally, Silver bullion can be collected and used as a security deposit since its value appreciates overtime.

Jewellery - Silver jewellery is one of the expensive jewellery options. Crafting Silver jewellery comes at a 10% making charge and a 15% melting charge at the time of sale. Silver jewellery is extremely popular during festive seasons. Silver jewellery is often given as a gift during festivals and marriages in India. Banks - All banks sell Silver coins and bars. Banks offer a secure channel for purchasing the purest form of certified Silver. Additionally, banks also help you store Silver with their locker facility.

Things to remember before purchasing Silver in Ahmedabad

Before buying Silver in Ahmedabad, you should check and monitor the prevailing rate of Silver in the city. You can also opt to buy Silver online as online dealers offer discounted prices in comparison to brick & mortar/bullion traders or retail jewellers. Additionally, you can look into the following factors:

  • Avoid Silver with nickel plating - It is harmful for the human skin.
  • Check for the authenticity and purity grade of Silver. This can be assessed by a Hallmark.
  • Look into the overall craftsmanship, the intricacy of Silver Jewellery designs, the weight of the Silver Jewellery items and any marks, flaws or areas of tarnish.

Six month’s Silver rate in Ahmedabad

Trend of Silver Rate in Ahmedabad for July 2019 (rates per kg)

Silver Rates1 Kg
1st July rateRs.40,578
31st July rateRs.44,965
Highest rate in JulyRs.44,965 on July 31
Lowest rate in JulyRs.40,560 on July 9
Overall performanceRising
% Change+10.81%

Trend of Silver Rate in Ahmedabad for June 2019 (rates per kg)

Silver Rates1 Kg
1st June rateRs.39,600
30th June rateRs.40,500
Highest rate in JuneRs.40,500 on June 29
Lowest rate in JuneRs.39,450 on June 2
Overall performanceRising
% Change+2.27%

Trend of Silver Rate in Ahmedabad for May 2019 (rates per kg)

Silver Rates1 Kg
1st May rateRs.40,500
31st May rateRs.39,500
Highest rate in MayRs.40,700 on May 3
Lowest rate in MayRs.39,360 on May 25
Overall performanceFalling
% Change-2.47%

Trend of Silver Rate in Ahmedabad for April 2019 (rates per kg)

Silver Rates1 Kg
1st April rateRs.40,647
30th April rateRs.40,000
Highest rate in AprilRs.40,863 on April 10
Lowest rate in AprilRs.40,000 on April 23
Overall performanceFalling
% Change-1.59%

Trend of Silver Rate in Ahmedabad for March 2019 (rates per kg)

Silver Rates1 Kg
1st March rateRs.43,300
31st March rateRs.41,500
Highest rate in MarchRs.43,300 on March 1
Lowest rate in MarchRs.41,100 on March 8
Overall performanceFalling
% Change-4.16%

Trend of Silver Rate in Ahmedabad for February 2019 (rates per kg

Silver Rates1 Kg
1st February rateRs.41,450
28th February rateRs.43,300
Highest rate in FebruaryRs.43,700 on February 26
Lowest rate in FebruaryRs.41,300 on February 4
Overall performanceRising
% Change+4.46%

How does GST impact the rate of Silver in Ahmedabad?

Precious metals such as Silver and Gold are subjected to Goods and Services Tax. A 3% GST is applicable on the final price of Silver.

Importance of checking Silver rate in Ahmedabad

Silver is a precious metal. Before purchasing Silver, it is very important for an individual to check the prevailing rate. Even a tiny variation in the rate of Silver can lead to a big loss. The rate of Silver is running at an all-time high since the last 10 years. Therefore, it is important to check the current price/rate of Silver in Ahmedabad. You can also visit multiple jewellers before buying.

How to buy Silver after checking Silver price in Ahmedabad?

You can buy Silver from any of the certified and established jewellers who sell hallmark jewellery. To name a few, Amidhara Jewellers, Alite Ornatto, Chokshi Hiralal Maganlal Jewellers, Ashirwad Jewellers, Manibhadra Jewellers, SP Jewellers and Patel Jewellers, Silver Emporium, Raj Jewellers, Malabar Gold and Diamonds, Kantilal Shivali Zaveri, Chandi Khazana, Al-Haq Jewellers, etc. are known traders of silver

What is BIS Hallmarked Silver Rate in Ahmedabad?

The Bureau of Indian Standards (BIS) is the primary hallmarking agency. It is the national Standards body of India who authenticates the purity of Silver in India. Hallmarking is the process which records and determines the metal content in Gold/Silver articles. A hallmarked Silver will contain the following information:

  • BIS Mark
  • Purity Grade (ranging from 999.9 to 999 for fine silver and for Silver alloys, jewellery and artifacts, the Silver purity grade is 970, 925, 900, 835, 800).
  • Hallmarking Centre's Identification Number
  • Jeweller's identification Mark
  • Year of marking - denoted by a code letter (e.g. 'R' for year 2013).

Conclusion

In conclusion, Silver is a good investment option if you can’t afford to buy gold. However, it is vital to ensure that you purchase Silver from a certified and established jeweller.

FAQ's On Silver Rate in Ahmedabad

What is the rate of Silver per gram in Ahmedabad?

The rate of Silver per gram in Ahmedabad is Rs. 44.52 as on 6th August 2019.

What is the rate of Silver for 10 grams in Ahmedabad?

The rate of Silver per 10 grams in Ahmedabad is Rs. 445.20 as on 6th August 2019.

What is the rate of Silver for 100 grams in Ahmedabad?

The rate of Silver per 100 grams in Ahmedabad is Rs. 4,452 as on 6th August 2019.

What is the rate of Silver for 1 kg in Ahmedabad?

The rate of 1 kg Silver in Ahmedabad is Rs. 44,520 as on 6th August 2019.

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