Silver is a very fine metal in India’s household. Silver is important for the benefits it holds and its properties as a non-corrosive metal. Silverware is very popularly used in Indian houses.
The demand for silver comes from every state of the country and most specifically from Gujarat. For this very reason, the Silver Rate in Gujarat is bound to changes.
In this article, we have discussed the different factors that impact the Silver Rate in Gujarat today.
In order to invest in silver, one must run through all the elements that impact the Silver Rate in Gujarat Live and accordingly plan the next course of action for a diversified portfolio.
Silver Rate in Gujarat – 10 gm, 100 gm & 1 kg Silver Price in Gujarat Today
This section has information on Silver Price in Gujarat Today and the changes undergone in prices of silver from yesterday to today.
Comparative study is done between the two and relative changes are also noted below. The main reason for this comparison is to keep a check on daily changes in silver rates in the state of Gujarat.
Also, Check out the Gold Rate in Gujarat Today
Silver Price in Gujarat for Last 15 Days
This section has information on the past 15 days data on changes in silver rates. The 15 day moving averages show fortnight changes in Silver Price in Gujarat.
This data is very necessary to judge further investment strategy for silver. Taking a look at the trend that is followed in the silver rates, future fluctuations can be predicted.
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Silver Price in Gujarat – Past 6 Months Price
For the readers benefit, we have compiled data on the silver prices for the past 6 months for the state of Gujarat. Looking back at past data is always a boon for future returns.
We hope that a glance at these prices give you a clearer picture on building a fruitful future investment strategy.
August 2020, silver rate movement in Gujarat
|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|
For the state of Gujarat, the demand for silver is heavy as investors know how important it is to invest in silver and the value that it holds on a long term basis. But buying silver at the correct prices is what is needed to be undertaken so that good returns are fetched from the same. The silver rate movement for the month of August is given below.
- The table shows changes in silver prices on different dates.
- The highest price for silver was Rs. 76,510 per kg for the month of August.
- Lowest price was Rs. 65,000 per kg for silver.
- The table also has the opening and closing price for the month.
- Net performance analysis is 18% for the changing silver rates this month.
July 2020, Silver Rate Movement in Gujarat
|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|
Silver is a part of a large number of investor’s portfolio. Keeping a constant track on change in its price and its movements can be cumbersome. For the reader’s reference, we have tracked the movement of Silver for the month of July in Gujarat. Refer below for a brief view of the same.
- Note the prices for the first and the last day of the month as mentioned in the table.
- The peak price this month wasRs. 66,050 per gram of silver and the lowest price touched was Rs.48,500 per gram.
- Price on first day of the month was Rs.50,050 per gram and on last day of the same month was Rs.65,000 per gram.
- The prices this month show a steady increase as compared to the other months of 2020.
- The overall analysis for the month of July 2020 is approximately 36%.
June 2020, Silver Rate Movement in Gujarat
|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|
For a better understanding on the silver rates in Gujarat we will take a sneak peak on the silver rates for the month of June. Knowing the fluctuations can help one make a good foundation for investment. Check the below section for more details.
- For the reader to note, the price for the first and the last day of the month is mentioned in the table.
- The highest price touched this month wasRs.48,800 per gram of silver and the lowest price touched was Rs.47,100 per gram.
- Price on first day of the month was Rs.50,150 per gram and on last day of the month was Rs.48,550 per gram.
- The prices show volatile trend this month.
- Approximate calculation for overall analysis stands at 6.50% for the month.
May 2020, Silver Rates in Gujarat
|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|
Enclosed below are the figures on the silver rates in Gujarat for the latest month of May. Some important key points to keep in mind while analysing the data are mentioned below.
- The table has mentioned the prices as on the 1st May and 31st
- As on 1st May the price was seen to be Rs.41,000 per kg and on 31st May it was Rs.50,110 per kg.
- Lowest price touched this month was on the first day of the month and the highest price touched was on the last day of the month for silver rate in Gujarat per gram.
- The prices this month are stable and are increasing from the first day of the month till the last.
- The overall change in prices is calculated to be 22.22%.
April 2020, Silver Rate Movement in Gujarat
|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|
We have compiled numbers for the silver rate movement in Gujarat and its fluctuations in this section. Some noteworthy numbers are also jotted below for the reader’s reference.
- We have enclosed below, the prices of silver rate fluctuations for the month of April.
- The price for the first day of the month, as well as on the last day of the same month is mentioned along with the highest and the lowest price.
- The peak price for silver rate in Gujarat per gram is at Rs.42,700 per kg and the lowest rate is Rs.39,940 per kg.
- As on 1st April, the per kg silver rate is Rs.39,940 per kg and on 31st April is Rs.42,520 per kg.
- The overall performance for this month is calculated as of 6.46%
March 2020, Silver Rate Movement in Gujarat
|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|
Change in per kg silver price movement in Gujarat for the month of March is studied in this section. Some important facts are laid down below.
- This month portrays the beginning of the lockdown in the country.
- The highest price level for the month was Rs.51,080 per kg as on 7th March and the lowest price for the month was Rs.39,480 per kg as on 31st
- Lowest price was on the last day of the month as the market saw a major drop and the volume of selling was more than that of buying.
- The opening price for the month was Rs.48,500 per kg and closing price was Rs.39,480 per kg.
- The percentage change in Silver Price in Gujarat per Gram is negative for this month, precisely at -18.60%.
February 2020, Silver Price Movement in Gujarat
|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|
In this section we have studied statistics on the 22 Carat Silver Rate in Gujarat and its movement over the period of the month. Some points on change in dynamics are mentioned below.
- The price movement in silver rates for the month of February is greater than that of March.
- For the month of February, the opening price is Rs.49,500 per kg and the closing price is at Rs.48,500 per kg.
- The peak point was at Rs.51,500 per kg as on 24th Feb and the lowest price level for the month was Rs.48,500 per kg on 29th Feb 2020.
- Price was unstable and saw major movement in the last week.
- The overall change in fluctuation is -2.02% for the silver rate in Gujarat per gram for the month of February.
January 2020, Silver Price Movement in Gujarat
|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|
To know about 22 carat silver price in Gujarat for the month of January and the important factors that lead to fluctuations, take a look at the table and pointers below.
- The month of January marks the beginning of a new year due to which it shows major changes in silver rates.
- The price for two days of the month is mentioned. Wherein the price on 1st January 2020 was Rs.49,350 per kg and on 23rd January was Rs.49,000 per kg.
- On 6th January 2020, prices touched its peak point at Rs.51,000 per kg.
- And on 14th January 2020 the lowest price was seen at Rs.48,900 per kg for the month.
- The performance change was slightly negative this month which was at -0.71% for silver price in Gujarat.
December 2019, Silver Rate Movement in Gujarat
|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|
It is important to look into figures from previous year while making conclusions on investment. For the readers benefit, and to gain a clearer picture on 24 carat silver rate in Gujarat we have drafted a table on important numbers for this month. Points to take in account are also mentioned.
- Prices for the opening and closing of December are mentioned in the table
- The prices for silver this month was positive and progressive.
- The price on the 1st day of December is Rs.46,650per kg which is also the lowest hit price for the month.
- And prices on the last day of the month, that is 31st of December is Rs.49,350 per kg, which is also the peak price for the month.
- The overall performance for this month is 5.79% for silver rate in Gujarat.
Silver Rate in Gujarat – Trend in 2020
The year 2020 saw a troubled movement in the silver rate in Gujarat mainly because of the global pandemic.
The situation in the economy hit so hard that it can be directly compared to the crisis that hit the country in 2008-09. The volume of trade for investment was also very less.
Unstable trade relation between India and China led to India withdrawing major of China’s investment in the country and gradual boycott of China made products.
Another reason for volatility seen in the rates was, because of change in rupee to dollar strength.
The demand for silver gradually began to rise as a medium to store one’s fund in an asset that can be easily liquefied in the future. After such major disruption in silver rate, today silver rate in Gujarat has stabilized.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Gujarat – Trend in 2019
The silver rate trend 2019 in Gujarat was fleeting. Initial months saw increasing rates, then took a plunge and later on began to rise again. Economic policies contributed to the volatility alongside instable relations between US and China.
Historical silver rate in Gujarat is a result of global changes in policies and relations differing from country to country.
The government of Gujarat makes noteworthy changes in purchase and sale of metal every year by either imposing taxes or factoring additional charges for the betterment of the state economy.
What makes Silver Rates in Gujarat to increase or decrease?
Rate of metals, just like rates of stock tend to keep fluctuation due to various reasons. The task of an expert investor is to catch the bottom of a rate and invest accordingly, so that in future, higher return is gained by a low priced investment.
In order to make such precise investment decision, one must know about factors that impact the silver rates in Gujarat as on today. Some are mentioned below:
- Demand from the local residents of Gujarat. If demand increases then the prices rise and with less demand prices fall.
- Silver rate in Gujarat today per gram are impacted by policies. Both, on a national level and state level.
- The amount of silver in the state depends on how much silver would need to be imported.
- Future demand for silver highly impacts today silver rate. In order to have enough silver for future need against the limited supply of silver, silver is purchased in large quantity in order to sustain it for the future.
What are the various measuring units of Silver in Gujarat?
Silver standards are measured differently in every state. For silver in Gujarat, it is measured in troy ounces wherein 1 Troy ounce equals 31.1035 gram of silver. Troy ounce is considered to be 10% heavier than that of traditional ounces.
Silver can also be measured in grams and kilograms. However, this standard unit of measurement is mainly used to maintain uniformity when it comes to purchase and sale of silver.
How much is the Tax Levied on Silver Rate in Gujarat?
Every state has taxes levied on products purchased and sold. The introduction of GST brought forth the concept of taxes on luxury.
The central government fixed an overall and mandatory 3% GST tax on silver in Gujarat. However, overall prices of silver in the states have other charges that are also factored in.
These other charges include transportation cost, hauling charges and making costs.
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 Gujarat?
Like gold, silver also has a hallmark policy which pertains to following norms by the Bureau of Indian Standards to use 94.79% of pure silver mixed with other alloys. Pure silver rate in Gujarat is made by following the purity standards as well.
Silver purity can be checked thoroughly by silver manufacturers or suppliers by using chemicals. Other local way to check silver purity is by the ice test.
If ice placed on silver melts rapidly, then silver is said to be pure. The reason behind this strategy is because silver has a very high electrical conductivity as compared to any other metal.
Silver Rate in Gujarat – Conclusion
This article has all the information you need to know on the about silver rates in Gujarat.We hope that you consider all the given points, in order to make an investment with strong foundation.
We have provided necessary information and analysis on past data for the readers benefit. This article has provided you with today silver rate in Gujarat and compared with yesterday change.
Our discussion on impacts on silver is the most crucial as it helps in understanding the reasons for fluctuation in silver prices.