Silver is a very important metal whose uses are vast in India. The Indian society highly demands for silver because it is cheaper as compared to gold.
Due to multiple benefits that are attached to silver, the Silver Rate in Karnataka along with its demand and uses tend to change.
Silver in Karnataka is worn by adults as an element with health benefits and by new born for positive energy.
We have studied all the factors that lead to change in Silver Rate in Karnataka today and various other charges related to it, for the residents of the state of Karnataka, including Silver Rate in Karnataka Live.
We have compiled all the important reasons for the readers benefit in this article.
Silver Rate in Karnataka – 10 gm, 100 gm & 1 kg Silver Price in Karnataka Today
We have laid down numbers on the Silver Price in Karnataka Today and yesterday and have made relative comparison between them.
This data will give you precise change in 22 Carat Silver in the state between two days. To know more on changing prices of silver in Karnataka, refer to the table.
Also, Check out the Gold Rate in Karnataka Today
Silver Price in Karnataka for Last 15 Days
For better analysis of data, following the constant update on moving averages is very important as it is a lucid strategy to sum up figures on fluctuations over the past 15 days into one single unit.
To know when the time is right for investment in silver, take a glance at the data for the Silver Price in Karnataka.
Find Silver Rates of Top Indian Cities & States
Silver Price in Karnataka – Past 6 Months Price
Past records are an important tool for portfolio diversification. The similar is applicable when talking about silver rates in Karnataka.
Knowing the past trends and reasons that caused them can help one to calculate future investment opportunities. To know more on past movements in silver, refer to the details below.
August 2020, silver rate movement in Karnataka
|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|
Silver is a good investment option as it is a precious metal and a market index. The silver rate fluctuates as per the changes in the economy. The changes impact the silver prices in every state and city of the country. The highlighted points as per the silver rate movement in Karnataka is.
- Silver rates for the month of August as on different dates are available in the table.
- The price for silver on the 1st August 2020 was Rs. 65,100 per kg and 31st August 2020 was Rs. 66,600 per kg.
- Highest price that silver touched in Karnataka was Rs. 76,510 per kg.
- The lowest price touched by silver for the month of August was Rs. 65,000 per kg.
- The performance analysis was calculated for the month and is 18% for per kg of silver.
July 2020, Silver Rate Movement in Karnataka
|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 Karnataka has a large crowd attracted towards investing in Silver. For this reason we have thrown some light on the silver rates for the most recent month of July in this section. The highest and lowest price can be used to predict future trends as well.
- Opening and closing prices are mentioned in the table along with highest as well as the lowest price.
- The opening price for the month is seen at Rs.500.00 per gram and the closing price is at Rs.650.50 per gram.
- Highest touched rate for the month of July is Rs.66,050 per gram and the lowest point is Rs.48,500 per gram.
- The prices have increased over the month.
- The calculated percentage change in performance for the silver rate in Karnataka per gram for this month is roughly seen to 36%.
June 2020, Silver Rate Movement in Karnataka
|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 ease the readers study for the silver rates in Karnataka, we have made sure to take into account all the important numbers on the silver rates in Karnataka and have compiled them in the table below. Some points that should be taken into account majorly while studying rates for this state are also jotted below.
- Opening as well as closing prices are mentioned in the table.
- The highest price for the month along with the lowest price is also available in the data.
- The price on the first day of the month is Rs.50,150 per gram and on the last day of the month is Rs.48,550 per gram.
- Highest touched rate is Rs.48,800 per gram and the lowest touched point is Rs.47,100 per gram.
- The percentage change in performance that is calculated for the silver rate in Tamil Nadu per gram is roughly seen to be 6.50%.
May 2020, Silver Rates in Karnataka
|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|
Take a glance on the numbers for changes in silver rates in Karnataka for the month of May. For better understanding we have mentioned some highlighted notes from the table below.
- Prices as on the first and last day of the month are mentioned below.
- On 1st May the price for silver rate in Karnataka per gram was Rs.41,000 per kg.
- And on 31st May the price was Rs.50,110 per kg.
- Peak price this month was on the last day of the month that is Rs.50,100 per kg.
- The lowest price was on the first day of the month that is Rs.41,000 per kg.
- The table shows the net fluctuation of prices which is noted to be at 22.22%.
April 2020, Silver Rate Movement in Karnataka
|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|
Below are some points to keep into account while understanding the changes in silver rate movement in Karnataka for the month of March. We hope data for this month gives you an insight on monthly changes in silver rates.
- The table has opening and the closing price for the month.
- The opening price is at Rs.39,940 per kg and the closing price is Rs.42,520 per kg.
- Highest recorded rate was on 20th April at Rs.42,700 per kg and the lowest on the first day of the month at Rs.39,940 per kg.
- The month showed stability in prices after announcement of economic policies by the government.
- The overall performance for silver rate in Karnataka per gram for the month is recorded as 6.46%
March 2020, Silver Rate Movement in Karnataka
|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|
Here we present data on the silver price movement in Karnataka for the month of March. We have also studied reasons that changed prices of silver for this month.
- The negative price movement this month was because of the global pandemic.
- The opening price for the month was Rs.48,500 per kg and closing price was Rs.39,480 per kg.
- On 7th March, the highest price was seen at Rs.51,080 per kg and on 31st March, the lowest price was touched at Rs.39,480 per kg.
- The overall percentage change in Silver Price in Karnataka per Gram is -18.60% for this month.
- Investors lost hopes because the downfall was drastic and the lockdown lead to very little demand from the local residents.
February 2020, Silver Price Movement in Karnataka
|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|
For the next month, we will note fluctuations in 22 Carat Silver Rate in Karnataka. For the readers reference we have made sure to include all the worthy points in the section below.
- Change in prices from the first day of February until the last are mentioned in the table.
- The mid-month price was at Rs.49,500 per kg and closed at Rs.48,500 per kg.
- The peak point was Rs.51,500 per kg as on 24th Feb 2020 and the lowest dip was at Rs.48,500 per kg on 29th Feb 2020.
- A large jump was seen in the last week of the month as the week showed both, the lowest and highest price in just a matter of six days.
- We have calculated the overall change in Silver rate in Karnataka per gram for this month and the statistics is at a negative 2.02%.
January 2020, Silver Price Movement in Karnataka
|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|
We have penned down information for the first month of the year in this section. You can find changes in 22 carat silver price in Karnataka in this section and explore more on opening and closing rates for the same.
- The table represents prices for the first day and the last day of the month.
- This month prices opened at Rs.49,350 per kg.
- Price as on 23rd January was Rs.49,000 per kg.
- The peak point for this month was Rs.51,000 per kg on 6th January 2020.
- Lowest point for the month of January was Rs.48,900 per kg on 14th January 2020.
- The performance level has been calculated as -0.71% for silver price in Karnataka.
December 2019, Silver Rate Movement in Karnataka
|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|
Tracking back to prices in the previous year proves beneficial for analysing 24 carat silver rate in Karnataka.
Therefore, we have provided information for December 2019, to gain an idea on change in prices in a year on year concept for metals.
- A sneak peak on numbers from the beginning of December till the end is mentioned in the table.
- The table has noted the opening and closing dates for silver along with information on the highest and lowest price for the month.
- The price on the 1st day of December is Rs.46,650 per kg and on the last day, that is 31st of December is Rs.49,350 per kg.
- Peak price for the month was on the last day and is noted at Rs.49,350 per kg alongside the lowest price on the first day of the month being Rs.46,650 per kg.
- The overall performance analysis for this month is 5.79% for the silver rate in Karnataka.
Silver Rate in Karnataka – Trend in 2020
The year 2020 has seen a volatile market for gold as well as silver. The silver rate in Karnataka saw fluctuations because of the onset of the global pandemic.
Later on, volatility was seen because of erratic trade relations between India and China. Investors were worried that their money will be drained out because of excess selling seen.
Soon after the economic conditions ought to get better, there was a steady rise in prices. The thought of silver being a safe investment instead of carrying liquid funds crept into the minds of traders.
They diversified their portfolios by taking lots of silver and saving it to hedge against future inflation. Since the drastic change, today silver rate in Karnataka has taken a steady pace.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Karnataka – Trend in 2019
The silver rate trend 2019 in Karnataka showed an uptrend in the beginning of the year; then went through a downfall and again began to rise by the end of the year.
This fluctuation was mainly because of global paranoia, brexit, trade imbalance between US and China, crisis in Mexico etc.
Historical silver rate in Karnataka are highly impacted by inflation. Whenever inflation rises, the demand for silver is seen to increase.
Policies by the central or state government either favoring or disfavoring silver can impact silver prices largely.
The onset of GST also brought changes in silver taxes by imposing a constant and worthy tax of 3% on sale of silver.
What makes Silver Rates in Karnataka to increase or decrease?
The state of Karnataka is very attracted towards silverware and silver ornaments. The residents of the state use silver for different reasons, the important one being a sign of luck and positivity.
Due to the demand for silver from the state, we have noted down reasons that change silver rates in Karnataka as on today below:
- High demand for silver can lead to increase in silver prices. Silver is demanded for its property to resist bacterial agents. It is also given as take-away gifts in the form of coins and bars for fancy occasions in the Indian culture.
- Silver rate in Karnataka today per gram is impacted by the changes in the stock market and gold prices.
- Imbalances or relational conflict with other countries leads to changes in national silver prices.
- Change in policies by the government like tax rates or import measures can impact silver rates from state to state.
What are the various measuring units of Silver in Karnataka?
For the purchase of silver in Karnataka, different measurements are used to calculate on grounds, in which silver should be sold. Silver is usually measured in kilogram, tolas and gram. However, below are some deciphered metrics for measuring silver in Karnataka.
- 1 Troy ounce = 31.1035 gram
- 1 tonne = 1000 kilogram
- 12 masha = 11.67 gram = 1 tola
How much is the Tax Levied on Silver Rate in Karnataka?
The basic tax imposed on the purchase and sale of silver is 3% GST, applicable on every state transaction against silver.
For the state of Karnataka in particular, other prices like transportation costs, hauling charges, making charges and more are factored in while purchasing silver.
The tax on silver rate in Karnataka is then used to enhance economic activities and building of roadways, railways and more.
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 Karnataka?
Purity of silver can be checked by chemicals that can differentiate pure silver from coated silver. Pure silver rate in Karnataka has 94.79% pure silver which is mixed with other alloys like electrum, copper or platinum.
Another way to test the purity of silver at home is by a magnet. If magnet sticks to your silver metal then, the metal is pure and if it doesn’t, the silver is supposedly impure or coated. A more worthy way to check for purity of silver is by checking with silver authorities.
Silver Rate in Karnataka – Conclusion
In this article, we have made sure to include all necessary factors related to the silver rates in Karnataka. Reason for which we have included past data in our study is to get a better insight on the effect of different factors on silver rates.
Investors buy silver after thorough inspection on past data. They strategically plan out a perfect time to indulge their funds in their investment to get a steady and positive return in the future.
Today silver rate in Karnataka are influenced by all the factors mentioned in this article. We hope you got a clear picture on all the details to be noted before investing in silver.