This article has varied information about the Silver Rate in Maharashtra and reasons that lead to changes in the same.
Silver is an important metal used in Indian household. Families with any cultural background use this metal in form of jewellery or silverware. The same applies to the residents of Maharashtra.
Before making an investment, you must make sure that it is being made at the right time and right price in the market.
To know more on Silver Rate in Maharashtra today and, impacts on Silver Rate in Maharashtra Live, make sure you run through the entire article and take notes on the highlighted reference points which will help you to study trends.
Silver Rate in Maharashtra – 10 gm, 100 gm & 1 kg Silver Price in Maharashtra Today
Data on Silver Price in Maharashtra Today and its comparison with prices as on yesterday is given in this section.
The change in silver rates from yesterday to today and the percentage change are also mentioned. We hope this data is informative and will help you draw conclusions on what should be the likely price to invest in 22 Carat Silver.
Also, Check out the Gold Rate in Maharashtra Today
Silver Price in Maharashtra for Last 15 Days
Moving averages is an important parameter when it comes to investment. This section focuses on the changes undergone within 15 days in the Silver Price in Maharashtra.
You may closely study this data to know the exact movement in prices.
Find Silver Rates of Top Indian Cities & States
Silver Price in Maharashtra – Past 6 Months Price
For a better understanding on the changes in gold rates for the past 6 months, we have jotted below some data in silver price in Maharashtra.
It is always important to take a sneak peak on past data while considering an investment parameter as it helps one to predict future trends and make a collective and lucid decision.
August 2020, silver rate movement in Maharashtra
|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|
The silver prices were highly impacted by the Covid-19 pandemic which hit the market to touch a major low. However, after businesses started opening up the market sentiments upturned and took to a positive trend line. We have listed how the silver rates were impacted and some important statistics to keep in mind.
- The silver price for August opened at Rs. 65,100 per kg in Maharashtra.
- With a volatile price movement during the month, its mid-month price was at Rs. 68,000 per kg.
- The prices for silver closed at Rs. 66,600 per kg in Maharashtra.
- The change in prices affected the demand for the metal that clearly reflected in investor’s portfolio.
- Net percentage change was 18% with regard to silver rates.
July 2020, Silver Rate Movement in Maharashtra
|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|
Investing in metal is always a long term gain for one’s portfolio. For Maharashtra, the changes that underwent with silver prices for the month of July are precisely mentioned here along with some reference take away points for the reader’s reference.
- Prices are noted in the table after studying weekly interval change in silver rates in Maharashtra.
- The recorded price on the first day of the month is Rs.50,050 per gram.
- It increased until Rs.65,000 per gram on the last day of the month.
- The month saw the highest price at Rs.66,050 per gram and the lowest price at Rs.48,500 per gram.
- Percentage change in prices for the month is also calculated. For July, the percentage change is at 36%
June 2020, Silver Rate Movement in Maharashtra
|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|
We know that demand for silver from Maharashtra is large. For similar reasons, we have looked into changes in the silver rates in Maharashtra post the easing of the lockdown that was initiated due to the global pandemic. We have noted figures that show impact in silver rates in the state. Glance through the points below to know more.
- For your reference, the price for the first and the last day of the month is mentioned in the table.
- The highest price level for the month was Rs.48,800 per gram of silver.
- On the other hand, the lowest price level for the month 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 overall analysis for this month for Silver Price in Maharashtra per Gram stands at 6.50%.
May 2020, Silver Rates in Maharashtra
|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 closer look on the fluctuations in silver rates in Maharashtra for the most recent month of 2020. Some important points that will help you understand the data better are given below.
- The table has prices as on the first and last day of the month.
- The price as on 1st May was Rs.41,000
- And the price on 31st May was Rs.50,110.
- The peak price this month was on the last day of the month and the lowest dip was that on the first day of the month that is Rs.50,100 and Rs.41,000 respectively for silver rate in Maharashtra per gram.
- The percentage change in prices are calculated to be 22.22%
April 2020, Silver Rate Movement in Maharashtra
|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|
Changes in the silver rate movement in Maharashtra for the month of March are noted below. It is important to look at numbers from all the months so that proper investment related decisions can be made.
- Enclosed in the table are two prices that is the opening price for the month and the closing price for the month.
- The price of the metal opened on this month at Rs.39,940.
- And the closing price for the month was Rs.42,520.
- The highest price level for the month was recorded on 20th April at Rs.42,700 and the lowest at Rs.39,940 on the first day of the month.
- The prices this month were volatile and showed peak movement in the third week of the month. The overall performance for silver rate in Maharashtra per gram for the month is recorded as 6.04%
March 2020, Silver Rate Movement in Maharashtra
|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|
Changes in per kg silver price movement in Maharashtra for the month of March are mentioned here in order to give you a better insight in price fluctuations. We hope these details will help your study on silver rates.
- For the reader’s reference, we have put in the price for the first and the last day of the month in the table.
- The highest price level for the month was Rs.51,080 as on 7th
- On the other hand, the lowest price level for the month was Rs.39,480 as on 31st
- This month opened at the price of Rs.48,500 and closed at the lowest price of Rs.39,480
- The price drop this month was mainly hit because of the global pandemic that lead to loss of life and income to businesses. However the percentage change in Silver Price in Maharashtra per Gram stands at -18.60% for the month.
February 2020, Silver Price Movement in Maharashtra
|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|
The next month under study is February. Data on 22 Carat Silver Rate in Maharashtra for this month is given in a tabular format. Some key takeaway notes are also mentioned below.
- Monitor the change in prices by comparing prices for day 1 in the month of February along with prices for day 31 in February.
- The opening price of the month was Rs.49,500, and closing was Rs.48,500.
- The peak point of price was Rs.51,500 as on 24th Feb 2020.
- The lowest price level for the month was Rs.48,500 on 29th Feb 2020.
- As for the change in Silver rate in Maharashtra per gram throughout the month, the table shows a tiny fluctuation in performance which is noted to be -2.02%.
January 2020, Silver Price Movement in Maharashtra
|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|
A clear picture on the prices of silver for the beginning of a new year is mentioned in this section. The opening prices for 22 carat silver price in Maharashtra for the year and beyond the opening price the changes in the rates are also mentioned.
- The table has price for the first day of the month and the last day of the month.
- For the month of January, the price of the metal opened at Rs.49,350.
- The peak point for this month was Rs.51,000 per kg on 6th January 2020.
- The steepest dip for the month of January is Rs.48,900 on 14th January 2020.
- The performance level has been calculated as -0.71% for silver price in Maharashtra.
December 2019, Silver Rate Movement in Maharashtra
|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|
For the last month of our study we will look back at prices from the previous year. It will help you get an insight on how 24 carat silver rate in Maharashtra changed over the period of a year span.
- Take a sneak peak for December for the change in price from December 1 to December 31 with the data available for both these dates from the table.
- The table has noted the opening and closing dates for silver as on the month of December along with information on the highest and lowest price for the month.
- The price on the 1st day of December is Rs.46,650 and on the last day, that is 31st of December is Rs.49,350.
- Peak price for the month is Rs.49,350 dated on 31st December alongside the steepest dip at Rs.46,650.
- The performance for his month is seen to be 5.79% for silver rate in Maharashtra.
Silver Rate in Maharashtra – Trend in 2020
The silver rate in Maharashtra and the country as a whole were initially highly impacted by the onset of the pandemic.
The economy slowed down and investor wished to put their money into places where they thought would give them future return.
They were worried on what the future holds because of the crash in the stock market and loss of jobs to many people around the city and nation.
They turned their liquid assets into gold and silver which in turn raised rates of both.
Volatility seen in the rates is majorly because of trade tensions between India and China. Withdrawing India’s investment in foreign technology will positively impact the country grow internally.
Therefore, since recent times the today silver rate in Maharashtra has taken a steady pace.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Maharashtra – Trend in 2019
The year 2019 had volatile trends for both gold and silver because of numerous reasons. The change in the strength of rupee to dollar, economic policies and the rates at which the stock market is trading can indirectly impact the silver rate trend 2019 in Maharashtra
The year 2019 saw international disruptions, both major and minor. Trade imbalance between China and US, brexit and other global policies impacted the historical silver rate in Maharashtra.
Any policies framed by the government that impact the country directly or indirectly also leads to changes in the silver rates.
Because of this majorly, it was why the silver rates were high and then had a drop, after which it again gained a considerable amount of pace.
What makes Silver Rates in Maharashtra to increase or decrease?
Many factors are responsible for silver rates to fluctuate within the country. Different cities in fact have different reasons why silver rate change.
We have tried to compile facts on silver rates in Maharashtra as on today. Take a sneak peak on the points below that talk about reasons that causes silver rates to increase or decrease:
- The main reasons causing silver rates to move is demand from the public. If the demand for silver increases, the price also rises and if the demand decreases, the prices drop, as the law of demand and supply.
- Economic policies by the state, rate at which taxes are imposed, other costs that are factored in during the purchase of silver may increase or decrease silver prices.
- If the use of silver by the industrial sector increases, silver rates are affected.
- Silver rate in Maharashtra today per gram is impacted by the rupee on dollar strength.
- Any change in policies on a nation level can impact both, the gold and silver rates severely.
What are the various measuring units of Silver in Maharashtra?
For standard buying and selling of metals, it is important to measure them by a standard measurement. Like gold, silver too has a similar form of measurement.
This measuring unit is named as troy ounce. Other measurements are kilograms, tolas, gram etc. Decipher for these metrics for silver in Maharashtra are: 1 Troy ounce equals 31.1035 gram. 1 tonne equals 1000 kilogram and 1 tola is 12 masha or 11.67 gram.
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 much is the Tax Levied on Silver Rate in Maharashtra?
There are many taxes that are imposed on the purchase of silver in Maharashtra. Buying silver is a luxury and taxes from luxury are an important source of income to the government.
The mandatory tax levied by the government is 3% GST that has been applied from 2017 when GST was first introduced.
Other charges that are also factored in on the silver rate in Maharashtra are charges that differ from jeweller to jeweller, transportation costs and making charges.
Therefore, tax on silver rate in Maharashtra is imposed on per kg of purchase of silver.
How to check Silver purity in Maharashtra?
Purity of silver can be checked by tools used to differentiate pure silver with silver coating.
Pure silver rate in Maharashtra is fixed on products which have purity level of 94.79% mixed with other alloys. These alloys can be electrum, copper or platinum.
A local way to check purity in silver is by using a magnet. If magnet sticks to the steel then, the steel is pure and if it doesn’t the steel is supposed to be impure.
Apart from this trick, you may also check with silver outlets on whether silver is pure or your metal has been only coated with silver.
Silver Rate in Maharashtra – Conclusion
This article is a summary on all that you need to know about silver rates in Maharashtra. We hope that details on past data like 15 day rates and the rates of the past half year give you a better insight on how silver rates change over a period of time.
Silver will be a safe haven for investment and portfolio diversification on account of the future expected prices also show an upward trend.
Make sure you study all the aspects that can affect silver rate both economically and politically before making decision on your investment.
According to the present condition in today silver rate in Maharashtra and the nation as a whole, silver rates have surely taken a steady pace.