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Silver Rate in Puducherry

The people of Puducherry are active buyers of Silver. They consider Silver to be a good investment as this metal has good resale value. There are a number of jewellers and banks selling Silver in Puducherry. Puducherry is a substantial market for Silver. The reason behind this is Puducherry’s proximity to Silver hubs such as Bengaluru and Chennai.

Factors affecting Silver rate in Puducherry

The rate of Silver in Puducherry is closely affected by the prevailing rates in the neighbouring cities. The internal demand from the city also affects the rate of Silver in Puducherry. Silver has more applications than Gold. Hence, the rate of Silver is heavily influenced by industrial demand. Additional factors that affect the rate of Silver in Puducherry are:

  • Fluctuating industrial demand
  • Store of value demand
  • Geo-political uncertainties
  • Rising crude oil prices
  • Depreciating dollar value
  • Government policies on major export and import destinations.
  • Sales by central banks
  • Direction of gold prices and direction of other commodity prices.

How to invest in Silver in Puducherry?

There are three ways to invest in Silver in Puducherry:

Jewellery and Coins - This includes Silver in different forms such as bars, ingots, bullions, coins, jewellery, silverware, artefacts, idols, artwork, sculptures, etc. Physical Silver can be purchased from a range of retailers, banks and jewellers across the city. Coins are highly popular as they offer easy and instant liquidity.

Commodity Future Exchanges - Individuals, jewellers and traders can purchase Silver in large substantial quantities directly through the Commodity Future Exchange. The two dominant market exchanges trading Silver are Multi Commodity Exchange (MCX) and National Commodities and Derivatives Exchange (NCDEX). These exchanges sell Silver in quantities of 1 Kg or more. They are also open to new contracts for upto 6 months.

Things to remember before purchasing Silver in Puducherry

It is important to check and monitor the prevailing rate of Silver in Puducherry. Additionally, you should look into the following factors before purchasing Silver in Puducherry:

  • Avoid Silver with Nickel plating as 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 Puducherry

Silver Rate in Pondicherry as on 9th August 2019

SILVERMORNINGEVENING
Silver (1 Gram)Rs. 47.5Rs. 47.50
Silver (1 Bar / Kg)Rs. 47500Rs. 47500

Previous Silver Rate changes in Puducherry

DATESILVER 1 GRAMBAR SILVER / 1 KG
8-Aug-19Rs. 47.6Rs. 47600
7-Aug-19Rs. 46.8Rs. 46800
6-Aug-19Rs. 45.7Rs. 45700
5-Aug-19Rs. 45.8Rs. 45800
3-Aug-19Rs. 44.5Rs. 44500
2-Aug-19Rs. 44.3Rs. 44300
1-Aug-19Rs. 43.7Rs. 43700
31-Jul-19Rs. 44.8Rs. 44800
1-Jul-19Rs. 40.7Rs. 40700
1-Jun-19Rs. 39.4Rs. 39400
1-May-19Rs. 40.5Rs. 40500
1-Apr-19Rs. 40.6Rs. 40600
1-Mar-19Rs. 42.8Rs. 42800
1-Feb-19Rs. 43.9Rs. 43900
MonthsLowest Price 999 Silver - Rs. per Kg.Highest Price 999 Silver - Rs. per Kg.
August 201944,52244,962
July 201940,55644,962
June 201939,44741,052
May 201939,36140,759
April 201940,08140,863
March 201940,35943,573
February 201941,12643,972

How does GST impact the rate of Silver in Puducherry?

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.

What is the Importance of checking Silver Rate in Puducherry?

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.

How to buy Silver after checking Silver price in Puducherry?

Before purchasing any form of Silver in Puducherry, you should check the prevailing Silver market rate. This refers to today’s Silver price in Puducherry.

What is BIS Hallmarked Silver Rate in Puducherry?

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 purchase Gold. However, you must ensure that you purchase Silver from a certified and established jeweller.

FAQ's On Silver Rate in Puducherry

What is the rate of Silver per gram in Puducherry?

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

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

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

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

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

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

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

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