Bihar is known for its rich heritage and its culture that is unique from other states of the nation. People here invest a good amount of money in expensive commodities like gold and silver besides other financial products. This makes them search for the most accurate Silver Rate in Bihar.
Investors and traders in this state do thorough research on silver rates before investing in the precious metal and this assures them great returns. The main objective of this article is to help readers get an overview of the Silver Rate in Bihar Live.
They can check out the rate trends of this metal for 2019 and 2020 along with the monthly price details for the past six months.
This will help new investors invariably as they are novices and need thorough guidance for cracking the best deals. The article also focuses on factors that affect the Silver Rate in Bihar Today.
Silver Rate in Bihar – 10 gm, 100 gm & 1 kg Silver Price in Bihar Today
Silver is a valuable metal and its price keeps fluctuating every day and thus, the 1 Kg Silver Rate in Bihar should be known to investors.
This commodity is bought and sold most in kilograms and knowing the price of 1 kg will help investors immensely.
Here, readers will get to learn about the latest price for 10 grams, 100 grams, and 1 kilogram of silver. These three rates will help them in calculating the amount of money they have to pay while buying silver.
Also, Check out the Gold Rate in Bihar Today
Silver Price in Bihar for Last 15 Days
An investor in Bihar always keeps the track of the silver rates in the state for the past 15 days. This will help him in choosing the right time for investing a good amount of money in this precious metal.
Investments revolving around high-value commodities are quite risky and thus, they should be done strategically.
Here, readers will be enlightened on the Silver Price in Bihar for the last 15 days. They should check out the rates and analyze the trend accurately for making the best deals.
Find Silver Rates of Top Indian Cities & States
Silver Price in Bihar – Past 6 Months Price
Bihar houses numerous experienced silver traders who not only focus on the rates of this metal for the past 15 days but also track past 6 months’ prices. They note the highest and the lowest rates and then evaluate the performance of this precious commodity in these months.
The rates for the past 6 months also help in assessing the profits and losses faced by a trader and he can take his future steps accordingly.
This article has brought forth the Silver Rate in Bihar for the last 6 months starting from May 2020 to January 2019. Investors will find the opening, closing, highest, and lowest rates for all these months below.
August 2020, silver rate movement in Bihar
|August-20||Silver Rate per KG|
|1st August 2020||₹ 65,110|
|8th August 2020||₹ 74,200|
|15th August 2020||₹ 68,000|
|22nd August 2020||₹ 67,100|
|31st August 2020||₹ 66,600|
|Highest Price||₹ 76,510|
|Lowest Price||₹ 65,000|
If you are studying the movement of silver prices then knowing how did it perform for each and every month of the year is important for further study. The below points signify the changes underwent for the silver rates in Bihar last month.
- Silver prices were impacted by the COVID-19 pandemic after which it dropped to a large extend.
- It has revived so much so that it touched a high of Rs. 76,510 per kg in August.
- Although the silver rate movement in August was volatile, the lowest that it touched was Rs. 65,000 per kg.
- August had a great deal of festivals that affected the demand for silver as well.
- Performance of silver rates lie at 18% for Bihar.
July 2020, Silver Rate Movement in Bihar
|Jul-20||Silver Rate per KG|
|1st July 2020||₹ 50,050|
|8th July 2020||₹ 50,020|
|15th July 2020||₹ 53,000|
|22nd July 2020||₹ 58,950|
|31st July 2020||₹ 65,000|
|Highest Price||₹ 66,050|
|Lowest Price||₹ 48,500|
The state of Bihar demands a large quantity of silver. Due to this many factors impact the change in silver rates in the state. We tried to look at the fluctuation in prices for the month of July in this section. This will help the reader to take steps to build a profit pro portfolio.
- Prices as on an interval basis is given in the data.
- The price of silver recorded on the first day of the month is Rs.500.05 per gram.
- On the last day of the month the silver rate closed at Rs.65,000 per gram.
- The highest touched price is Rs.66,050 per gram.
- The lowest dip is Rs.48,500 per gram for silver in Bihar.
- Change in rates is analysed and is approximately at 36%.
June 2020, Silver Rate Movement in Bihar
|Jun-20||Silver Rate per KG|
|1st June,2020||₹ 50,150|
|31st June,2020||₹ 48,550|
|Highest Price||₹ 50,160 per Kg|
|Lowest Price||₹ 47,100 per Kg|
To know more about the silver rate movement in Bihar take a look at the section below. We have compiled all the important rates for Bihar for the month of June. Analysing this information is a crucial step towards building a better portfolio.
- The data has the highest and lowest prices for the month.
- The silver rate this month show volatile trends from the beginning until the month end.
- Month opened at Rs.50,150 per gram. However, the highest price is at Rs.48,800 per gram.
- The month closed at is Rs.48,550 per gram, with the lowest price at Rs.47,100 per gram.
- Overall change undergone for the silver prices in Bihar for the month is approximately 6.50%.
May 2020, Silver Rates in Bihar
|May-20||Silver Rate per KG|
|1st May,2020||₹ 41,000|
|31st May,2020||₹ 50,110|
|Highest Price||50,110/- per Kg on 31st May,2020|
|Lowest Price||41,000/- per Kg on 1st May,2020|
Investors will find in this section of the article the Silver Rates in Bihar for May 2020. They should focus on the figures thoroughly and understand the transition this precious metal has gone through.
- The opening rate for silver in Amy 2020 was Rs.41000 per kg and the closing rate on May 31st was Rs.50110 for a kg
- 1 kg Silver attained the highest rate of Rs.50110 in Bihar and that was at the month-end
- The lowest price of 1 kg of silver was Rs.41000 in May 2020
- In this month, silver traders witnessed a huge leap in the Silver Rate in Bihar per gram and that was of Rs.9110
- The percentage change was extremely good and it was as high as 22.22% which is a rare sight
April 2020, Silver Rate Movement in Bihar
|Apr-20||Silver Rate per KG|
|1st April,2020||₹ 39,940|
|30th April,2020||₹ 42,520|
|Highest Price||Rs. 42,700/- per Kg on 20th April,2020|
|Lowest Price||Rs. 39,940/- per Kg on 1st April,2020|
The second month featured in this article is of April and investors consider this month important as it is the beginning of a new financial year. One can find below the Silver rate Movement in Bihar for April nicely explained below:
- 1 kg Silver was rated Rs.39940 n the 1st of April and Rs.42520 at the end of the month
- On April 20th, the highest price of silver was recorded which was Rs.42700 per kg
- The lowest price attained by this metal for 1 kg was Rs.39940
- Mediocre growth performance of 6.46% was calculated in the Silver Rate in Bihar per Gram in April 2020
- The rate of 1 kg silver increased steadily in the first three weeks of the month and then showed a small amount of reduction in the last week
March 2020, Silver Rate Movement in Bihar
|Mar-20||Silver Rate per KG|
|1st March,2020||₹ 48,500|
|31st March,2020||₹ 39,480|
|Highest Price||Rs. 51,080/- per Kg on 7th March,2020|
|Lowest Price||Rs. 39,480/- per Kg on 31st March,2020|
If an investor wants to understand the performance of this precious metal in the past few months then he should focus on this portion of the article. Here, the Silver Price Movement in Bihar for March 2020 shall be discussed that will reflect on the rates for the last month of the previous financial year.
- Silver opened with a higher rate of Rs.48500 in this month and closed with a lower price of Rs.39480 per kg
- This metal reached the highest rate on 7th March and that was Rs.51080 per kg
- 39480 was the lowest price recorded on the last day of the month
- March 2020 saw a drastic depreciation in the Silver Price in Bihar per Gram
- The percentage change calculated between the highest and lowest rates was -18.60%
February 2020, Silver Price Movement in Bihar
|Feb-20||Silver Rate per KG|
|15th February,2020||₹ 49,500|
|29th February,2020||₹ 48,500|
|Highest Price||Rs. 51,500/- per Kg on 24th February,2020|
|Lowest Price||Rs. 48,500/- per Kg on 29th February,2020|
Details about the 22 Carat Silver Rate in Bihar for February 2020 will be shared below. Investors will get a deep insight into the performance of this metal going through these points.
- The opening and closing rates for 1 Kg silver in Bihar for February were Rs.49500 and Rs.48500 respectively
- In this month, silver touched the lowest price of Rs.48500 on 29Th
- The topmost marked rate for 1 Kg of this metal was Rs.51500 which was recorded on 24th of February
- A small percentage change of -2.02% was calculated in the growth of the rate of this precious metal
- The Silver rate in Bihar per gram was on the higher side in the first three weeks of the month and depreciated in the last week
January 2020, Silver Price Movement in Bihar
|Jan-20||Silver Rate per KG|
|1st January,2020||₹ 49,350|
|23rd January,2020||₹ 49,000|
|Highest Price||Rs. 51,000/- per Kg on 6th January,2020|
|Lowest Price||Rs. 48,900/- per Kg on 14th January,2020|
January is the first month of the year and it witnesses a large number of investments in silver. The 22 Carat Silver Price in Bihar for the first month of 2020 has been discussed below in detail:
- The local silver market of Bihar opened with the rate of Rs.49350 per kg on the 1st and closed with Rs.49000 per kg on the 23rd
- This state recorded the maximum rate of Rs.51000 for 1 kg silver on 6th January
- 14th of January saw the lowest silver rate per kg which was Rs.48900
- The percentage change in Silver Price in Bihar was calculated to be -0.71 which indicates a small amount of depreciation
- In this month, the silver market of Bihar closed a bit early than other months and a difference of Rs.350 was recorded between the opening and closing rates
December 2019, Silver Rate Movement in Bihar
|Dec-19||Silver Rate per KG|
|1st December,2019||₹ 46,650|
|31st December,2019||₹ 49,350|
|Highest Price||Rs. 49,350/- per Kg on 31st December,2019|
|Lowest Price||Rs. 46,650/- per Kg on 1st December,2019|
This section of the article aims at enlightening readers on the 24 Carat Silver Rate in Bihar for the last month of 2019. It will focus on the rates attained by this metal in December last year and help investors in understanding the past trend in Bihar.
- 1 kg of Silver opened with a rate of Rs.46650 and closed with Rs.49350
- The highest rate of 1 kg of this metal touched Rs.49350 whereas the lowest rate reached the value of Rs.46650
- December 2019 marked an average growth percentage of 5.79% in the Silver Rate in Bihar
- The highest and the lowest rates were recorded on the 31st and the 1st of the month which indicates that the price was increasing steadily
- Investors who have bought 1 kg silver on 1st December earned a profit of Rs.2700 by the end of the month
Silver Rate in Bihar – Trend in 2020
This article has managed to bring forth an idea about the Silver Rate Trend in Bihar for 2020 by projecting the performances of the 1st few months.
It can be seen that silver showed a mixed trend this year as its rates decreased steadily in the first 3 months and then increased in the next 2.
The outbreak of the pandemic and the growing political tension between India and China has affected the rates immensely.
Today Silver Rate in Bihar in on the higher side as the stock market is recovering gradually and more investors are investing in it.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Bihar – Trend in 2019
The Silver Rate Trend 2019 in Bihar can be called more stable than that of 2020 as there were less global tensions. This state saw fluctuations in the rates of silver but they took place gradually.
The stock market of the nation increased by numerous points and this impacted the rates of this precious metal in a good way.
If the Historical Silver Rate in Bihar for 2019 is compared with the present rates then, the former is much less than the latter.
The growing inflation in the global economy also plays a major role in the increase of rates of precious commodities like silver.
What makes Silver Rates in Bihar to increase or decrease?
A large number of factors are considered pivotal for the change in the Silver Rate in Bihar as on today. Inflation in the world market increases the rates rapidly while the fall in the valuation of the USD concerning the INR decreases the silver prices.
If the Central Bank makes some good changes in its policies then the rates decrease in the local market of Bihar.
The Silver Rate in Bihar today per gram will be less if the demand for this metal in the state is less. Another major role is played by the rate of interest levied by the Reserve Bank of India and the import duty imposed by the state government.
What are the various measuring units of Silver in Bihar?
Silver in Bihar is measured in a similar technique as gold and the units used are also the same. The measuring tools used by top jewelry shops in Bihar are technically advanced and they give the most accurate measurement of the product weighed on them.
Customers should check the mass of the finished silver product on the digital board of these tools and then apply the latest silver rate on them.
Traders in this state use the common measuring units of troy weight and grams for weighing silver products. Besides these two units, silver is also measured in million ounces, troy ounces, kilograms, tonnes, Masha, Tolas, etc.
The connection between the commonly-used measuring units is stated below:
- 1 Kilogram = 1000 grams
- 1 Tola = 12 Masha
- 0.972 gram = 1 Masha
- 1 Tonne = 1000 kilograms
- 1 Troy ounce = 31.1035 grams
How much is the Tax Levied on Silver Rate in Bihar?
The government of India imposed various types of taxes on silver before the introduction of the GST system. However, today, only one type of tax is imposed on this precious metal and it is the GST.
The Tax on Silver rate in Bihar is only 3% at present and customers have to pay it on the total price of the metal they are buying. If they are purchasing a product made out of silver then a GST is also charged on the making charge.
Find Silver Rates of other Indian Cities & States
|Silver Rate in Uttar Pradesh||Silver Rate in Bhubaneswar||Silver Rate in Jaipur|
|Silver Rate in West Bengal||Silver Rate in Chandigarh||Silver Rate in Lucknow|
|Silver Rate in Ahmedabad||Silver Rate in Coimbatore||Silver Rate in Patna|
How to check Silver purity in Bihar?
The purity of silver products is measured in percentage and there is a fixed value for it which should be known to investors. A silver product should contain 94.79% of pure silver in it and the remaining 5.21% is filled with other metals.
If an investor wants to crack the best deal for the Pure Silver rate in Bihar then, he should check the purity of the metal using a piece of a magnet.
If the finished product attracts the magnet then, it is not pure and if it repels then the investor can bank upon the purity of the silver.
Silver Rate in Bihar – Conclusion
The residents of Bihar invest a huge amount of money in silver jewelry alongside gold products. Thus, they should be aware of the on-going Silver rate in Bihar to ensure they are not cheated on by a jeweler.
Investors should go through this article nicely as they will find a lot of useful information about this expensive metal here.
This article has discussed the rates and performances of silver for the past 6 months that will help readers invariably. Today Silver rate in Bihar is increasing slowly and creating better opportunities for investors and traders here.