Silver is an important precious metal. India is the second largest consumer of Silver in the world. Traditionally, Gold is a preferred option in terms of safe investment for the common people. However, there has been an increase in demand for Silver.
Silver is a reliable source of wealth and value. However, unlike Gold, the requirement may not be highly dependent on domestic demand. The rate of Silver is also affected by industrial demand as this metal is used in manufacturing components of various electronic goods. Additional factors that affect the rate of Silver in Nagpur are:
There are four ways to invest in Silver in Nagpur:
Jewellery - 25% of the overall demand for Silver in India is fueled by silverware and jewellery. Silver jewellery is more expensive than buying coins. Silver jewellery also comprises of 10% manufacturing charges and 15% melting charges. Also, Silver jewellery is extremely popular during festive seasons.
Coins - Silver coins are one of the most readily available forms of Silver. This metal can be purchased from banks as well as jewellers. The coins can be bought in weights from 10 grams to 500 grams. Purchasing Silver coins from banks is expensive as banks apply packaging charges along with providing a certificate.
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. Silver bullion comes with many advantages. Firstly, you can hold a substantial quantity of Silver. Secondly, the Silver bullion can be sold for up to 75% of its value at a particular date.
Commodity Future Exchanges - Individuals, jewellers and traders can purchase Silver in large substantial quantities directly through the Commodity Future Exchange.
It is important to check and monitor the prevailing rate of Silver in Nagpur. Additionally, you should look into the following factors before purchasing Silver in Nagpur:
Trend of Silver Rate in Nagpur for July 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st July rate | Rs.40,578 |
| 31st July rate | Rs.44,965 |
| Highest rate in July | Rs.44,965 on July 31 |
| Lowest rate in July | Rs.40,560 on July 9 |
| Overall performance | Rising |
| % Change | +10.81% |
Trend of Silver Rate in Nagpur for June 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st June rate | Rs.39,600 |
| 30th June rate | Rs.40,500 |
| Highest rate in June | Rs.40,500 on June 29 |
| Lowest rate in June | Rs.39,450 on June 2 |
| Overall performance | Rising |
| % Change | +2.27% |
Trend of Silver Rate in Nagpur for May 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st May rate | Rs.40,500 |
| 31st May rate | Rs.39,500 |
| Highest rate in May | Rs.40,700 on May 3 |
| Lowest rate in May | Rs.39,360 on May 25 |
| Overall performance | Falling |
| % Change | -2.47% |
Trend of Silver Rate in Nagpur for April 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st April rate | Rs.40,647 |
| 30th April rate | Rs.40,000 |
| Highest rate in April | Rs.40,863 on April 10 |
| Lowest rate in April | Rs.40,000 on April 23 |
| Overall performance | Falling |
| % Change | -1.59% |
Trend of Silver Rate in Nagpur for March 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st March rate | Rs.43,300 |
| 31st March rate | Rs.41,500 |
| Highest rate in March | Rs.43,300 on March 1 |
| Lowest rate in March | Rs.41,100 on March 8 |
| Overall performance | Falling |
| % Change | -4.16% |
Trend of Silver Rate in Nagpur for Feb 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st February rate | Rs.41,450 |
| 28th February rate | Rs.43,300 |
| Highest rate in February | Rs.43,700 on February 26 |
| Lowest rate in February | Rs.41,300 on February 4 |
| Overall performance | Rising |
| % Change | +4.46% |
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.
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.
The demand for Silver has always been high in Nagpur. Before purchasing Silver, it is very important for an individual to check the prevailing rate. You can also compare the prices from different banks, jewellers or retailers.
Before purchasing any form of Silver in Nagpur, you should check the prevailing Silver market rate. This refers to today’s Silver price in Nagpur.
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:
In conclusion, Silver is a good investment option if you can’t afford to purchase gold. However, you must ensure that you purchase Silver from a certified and established jeweller.
What is the rate of Silver per gram in Nagpur?
The rate of Silver per gram in Nagpur is Rs. 44.52 as on 6th August 2019.
What is the rate of Silver for 10 grams in Nagpur?
The rate of Silver per 10 grams in Nagpur is Rs. 445.20 as on 6th August 2019.
What is the rate of Silver for 100 grams in Nagpur?
The rate of Silver per 100 grams in Nagpur is Rs. 4,452 as on 6th August 2019.
What is the rate of Silver for 1 kg in Nagpur?
The rate of 1 kg Silver in Nagpur is Rs. 44,520 as on 6th August 2019.
