Odisha is an Indian state that houses a large number of traders who deal in silver as the main product. This article will help traders and new investors immensely as they will get a detailed idea about the Silver Rate in Odisha.
Traders sell and buy a large amount of this precious metal from merchants and make their living put of the profits earned from the transactions.
Thus, they need to know the Silver Rate in Odisha Live always and apply it while trading in the metal. Many new investors are joining the bandwagon and they are trying to make a foothold.
This article will discuss the silver rates for the past 15 days and the last six months which will help them get an overview of the rate trends.
Readers will also be enlightened on the taxes imposed on the Silver Rate in Odisha Today along with the factors that affect these rates.
Silver Rate in Odisha – 10 gm, 100 gm & 1 kg Silver Price in Odisha Today
Traders always inquire about the 1 Kg Silver Rate in Odisha as they deal with a huge amount of this metal. Big investors buy and sell kilograms of gold at a single time as the profit margin is very high in it.
Here, readers will learn about the silver rates for 10 grams, 100 grams, and 1 kg which will help them in cracking the best deals. They should remember the rates while processing a transaction to ensure no one is cheating on them.
Also, Check out the Gold Rate in Orissa Today
Silver Price in Orissa for Last 15 Days
The Silver Price in Orissa changes every day and if an investor collects these rates then he can analyze them thoroughly.
Traders in this state prefer carrying out trading processes in a strategic manner and thus, they record the silver rates for the past 15 days.
They evaluate the rates nicely and decide the right time for investing in this valuable commodity. The trend of silver rates for the present times can be understood easily in this process and the performance percentage can also be calculated.
Find Silver Rates of Top Indian Cities & States
Silver Price in Odisha – Past 6 Months Price
The rates of silver for the past 15 days can help in assessing the current trend of this metal’s prices. But, the Silver Rate in Odisha for the past six months helps in predicting the overall trend of this commodity along with its monthly performances.
Expert traders maintain a detailed record of the silver rates in the state and calculate the percentage change using them.
Below in this article, readers will be introduced to the opening, closing, highest, and lowest rates of silver in Odisha for the past six months.
Here the rates are given from December 2019 to May 2020 for investors to get a deep insight into the past situation of this expensive metal.
The percentage changes in the rates for each month have also been mentioned to reduce the hard work of the readers.
August 2020, silver rate movement in Odisha
|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|
There is a perpetual demand for silver in Odisha. However, there was impacting fluctuations in the silver rate in Odisha in the month of August. Some of the key numbers are given in the table and highlighted in the points below.
- On 1st August the silver rate was Rs. 65,100 per kg in Odisha.
- The margin at which the silver rate closed was Rs. 66,600 per kg which is very close to the opening price.
- The highest price for the month was Rs. 76,510 for per kg of Silver.
- The lowest price for silver was Rs. 65,000 for per kg of silver in Odisha.
- Monthly performance was 18% indicating the velocity of price movement of silver during the entire month period.
July 2020, Silver Rate Movement in Odisha
|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 silver rates in Odisha in the month of July showed tremendous movements. The movements are recorded and noted below. This will help the reader to draw conclusions based on his/her portfolio with regard to how the past numbers have impacted the silver rates in Odisha.
- Price movement of silver is studied on a weekly interval and noted below.
- The recorded price on the first day of the month in Odisha is Rs.50,050 per gram.
- And on the last day of the month is Rs.65,000 per gram.
- The month peak price was at Rs.66,050 per gram and the lowest price at Rs.48,500 per gram.
- Percentage change in prices for the month is at 36% which determine the velocity in prices of silver.
June 2020, Silver Rate Movement in Odisha
|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|
In this section we have made sure to include all details for the silver rates in Odisha for the month of June. Key take away points on the movement of prices are also mentioned below. We hope these numbers help you to make investment related decisions.
- The opening price and the closing price for the month of June 2020 are mentioned in the table.
- For the silver rates in Odisha the price opened at Rs.50,150 per gram and for the prices closed at Rs.48,550 per gram.
- The peak price for the month is Rs.48,800 per gram.
- Lowest touched price is Rs.47,100 per gram.
- The overall percentage change is approximately 6.50% for the state of Odisha.
May 2020, Silver Rates in Odisha
|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|
Readers will be introduced to the Silver Rate in Odisha for May 2020 at first as it is the immediate previous month. They should remember the rates and the performance percentage correctly while dealing with this valuable metal.
- Silver rate in Odisha opened with Rs.41000 per kg in May this year and close with Rs.50110 for a kg
- The highest attained price for 1 kg silver was Rs.50110 and this was recorded in the month-end
- 1 kg silver marked the lowest price of Rs.41000 on the 1st of the month
- May 2020 saw a huge rise in the price of this expensive commodity and the difference between the highest and lowest rates was of Rs.9110
- The percentage change in the growth of the Silver Rate in Odisha per Gram was 22.22% which is very huge
April 2020, Silver Rate Movement in Orissa
|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 price of silver throughout April plays an important role in the Silver Rate Movement in Orissa for 2020.
April is the first month of the financial year in this country and many investors wait for it for investing in this valuable commodity. Thus, readers should not miss out on the rates of silver for this month.
- 39940 was the opening rate for 1 kg silver in this month and the closing rate was Rs.42520 per kg
- On 20th April, this precious metal touched the highest rate in this state which was of Rs.42700 per kg
- The lowest rate of Rs.39940 was attained by 1 kg silver on the 1st of the month
- The Silver Rate in Odisha per Gram recorded an average performance in this month with a small percentage change of 6.46%
- The rates have increased steadily in the first three weeks of April and decreased by a small at the end of the month
March 2020, Silver Rate Movement in Odisha
|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|
March was the last month of the previous financial year and readers should pay special attention to the Silver Price Movement in Odisha for this month. Below the accurate prices are mentioned which will help new investors a lot:
- The opening Silver Price in Odisha per Gram was Rs.48.50 and the closing price for 1 gram was Rs.39.48
- 1 kg Silver marked the highest rate of Rs.51080 on the 7th of the month
- The lowest rate was of Rs.39480 per kg and it was recorded on the 31st of March
- The rate of this precious metal decreased in a huge amount in this entire month and dropped by Rs.11600 per kg
- A percentage change of -18.60% was calculated which indicates massive depreciation in the rates of silver
February 2020, Silver Price Movement in Odisha
|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 22 Carat Silver rate in Odisha for February 2020 has seen some major ups and downs that can be evaluated from the rates given below:
- Odisha marked the opening price of Rs.49500 for 1 kg silver on 15th February
- The closing rate on 29th February was lower than the opening rate and it was of Rs.48500 per kg
- The highest and lowest Silver Rate in Odisha per gram was Rs.51.50 and Rs.48.50 respectively
- Silver touched the highest rate on 24th February and the lowest on the 29th of the month
- A small amount of percentage change of -2.02% was recorded in the rates of this valuable commodity
January 2020, Silver Price Movement in Odisha
|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|
Traders in Odisha earn a lot of profit dealing in silver in January as it marks the beginning of a new year. Many customers visit silver traders for buying various products made up of this precious metal.
The 22 Carat Silver Price in Odisha for January this year is mentioned below and readers will get a good idea from it.
- The opening rate of 1 kg silver was Rs.49350 and the closing rate on 23rd January was Rs.49000 per kg
- This expensive commodity reached the topmost price of Rs.51000 per kg on the 6th of this month in Odisha
- The lowest rate of silver per kg was Rs.48900 which was recorded on the 14th of January
- Like March and February, January also suffered from depreciation in the rate of silver
- A percentage change of -0.71% was calculated in the Silver Price in Odisha
December 2019, Silver Rate Movement in Odisha
|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 portion of the article shall discuss the 24 Carat Silver Rate in Odisha for the last out of the six months. Readers will learn how the rates looked at the end of 2019 and understand the transition properly.
- In December 2020, the local silver market in Odisha opened with a rate of Rs.46650 for a kg and closed with Rs.49350 per kg
- The highest rate attained by this precious metal was the closing rate which is Rs.49350 per kg
- 1 kg of Silver reached the lowest price of Rs.46650 on the 1st of the month
- The last month of the previous year saw a moderate amount of fluctuation in the Silver Rate in Odisha
- A growth percentage change of 5.79% was calculated which can be regarded as an average one
Silver Rate in Odisha – Trend in 2020
The rates for the first few months of this year can help in figuring out the Silver rate Trend in Odisha for 2020.
Investors can check out the rates and percentage changes provided from January and understand how the transformation has taken place.
In the first three months of the year, depreciation was noticed in the rates of this precious metal.
However, the silver market in Odisha has recovered gradually and a huge amount of hike was noticed in May 2020.
Today Silver Rate in Odisha is more than that of the previous month. Investors are making big investments and this is increasing the demand for this metal.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Orissa – Trend in 2019
It is known to everyone that the rate trends of commodities vary according to different factors. Thus, the Silver Rate Trend 2019 in Odisha was very different from the trend of 2020.
In the previous year, the rates increased and decreased on various occasions and they were affected by the major events taking place at that particular time.
This year has seen some major changes in the stock markets across the world due to the outbreak of a severe pandemic. Therefore, the Historical Silver rate in Orissa was lesser than that of today and the market was more stable in the last year.
What makes Silver Rates in Odisha to increase or decrease?
The Silver Rate in Odisha as on today shall increase or decrease if the factors impacting it changes. The foremost determining factor is the inflation in the international market and the demand for this metal in the local market of this state.
If inflation increases, the rates of silver are bound to go up and the more is the demand in the local market the more is the rate.
The valuation of the Indian National Currency concerning the American Dollar plays an important role in deciding the Solver rate in Odisha today per gram.
These rates are also affected by the rate of interests imposed by the Reserve Bank of India, and the taxes levied by the government.
What are the various measuring units of Silver in Odisha?
Silver in Odisha is measured in different measuring units and they are the same as used for weighing gold. Jewelry shops in this state use measuring instruments that show the most accurate mass of the silver product placed on them.
Buyers should check the mass of the finished product and use the latest silver rate in Odisha for calculating the amount of money they have to pay.
Traders in this state use the units of troy weight and gram for measuring silver very often. They also use other popular measuring units namely, kilograms, troy ounce, million ounces, Masha, Tolas, etc.
Below are the connections between the different measuring units used for weighing silver:
- 1 Kilogram = 1000 grams
- 1 Tonne = 1000 kilograms
- 31.1035 grams = 1 Troy ounce
- 1 million ounces = 28349.52 kilograms
- 1 Masha = 0.972 gram
- 12 Masha = 1 Tola
- 1 Masha = 0.972 gram
How much is the Tax Levied on Silver Rate in Orissa?
After the GST system is introduced, only a 3% Tax on Silver Rate in Orissa has been imposed. Earlier, various types of taxes and charges were levied on this metal which reduced the profit margin of investors.
However, things have become transparent with the application of GST and this tax system is easy to calculate. Customers are charged with a small amount of extra GST on the making charge of the silver product they have purchased.
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 Odisha?
The purity of silver in a finished product is measured in percentage and this state follows the same procedure. In a silver product, the percentage of pure silver should be 94.79%, and the rest 5.21% is filled with other metals.
Customers should pay for the Pure Silver Rate in Odisha after checking the purity of the product they are purchasing.
They can use a piece of a magnet for checking the purity of a silver product. If the magnet is attracted to the product then the latter is impure as pure silver repels magnetic bodies.
Silver Rate in Odisha – Conclusion
This article has helped in concluding that the Silver Rate in Odisha is increasing gradually and investors in this state are getting back into action.
Here, the silver rates for the past six months have been described in detail that will help readers immensely.
They will learn about the trends of this metal along with the monthly percentage changes in the prices from December 2019 to May 2020.
TodaySilver Rate in Odisha can be called better than the past few months and the demand in the native market is increasing. Investors should check the rates of this metal daily and take investment decisions wisely.