Punjab is one of the most prominent North-Indian states that house a large number of businessmen. This state has many traders and investors who deal with silver and this is the reason they keep the track of the Silver Rate in Punjab Live.
This article will focus on the Silver Rate in Punjab and readers should not miss out on a single point from it.
They invest a lot of money on this expensive metal which requires thorough monitoring regularly. Investors should evaluate the latest rates and invest accordingly or else they may suffer a huge loss of money.
They will learn about the rates for the past six months which will help them in assessing the performance of this metal perfectly.
All the factors impacting the Silver Rate in Punjab Today shall also be discussed in this article for the reference of the readers.
Silver Rate in Punjab – 10 gm, 100 gm & 1 kg Silver Price in Punjab Today
Silver is mostly sold in kilograms and this makes investors inquire about the 1 Kg Silver Rate in Punjab very often.
This rate will help traders while they buy this commodity from merchants and buyers can use the data while making investment decisions.
This portion of the article will give an insight into the price of 1 kg silver and also mention the rates for 10 grams and 100 grams of the commodity.
Readers should go through them nicely if they are planning to invest in this precious metal in the upcoming days.
Also, Check out the Gold Rate in Punjab Today
Silver Price in Punjab for Last 15 Days
Traders in Punjab, who deal in silver, are extremely professional in their technicalities and they prefer doing full-proof research on the commodity they are dealing with.
People here check the Silver Price in Punjab for the past 15 days to make sure they are going ahead with the best deal.
They go through these rates and calculate the performance percentage of silver in the last 2 weeks. This helps them in deciding whether they are choosing the right time for investment or not.
Find Silver Rates of Top Indian Cities & States
Silver Price in Punjab – Past 6 Months Price
Silver is a metal whose rate varies each day and can show a huge amount of rising or deduction suddenly. Thus, investors who deal with a huge amount of money need to be very careful while investing in this commodity.
They check the Silver Rate in Punjab for the previous six months and then chalk out the trend of this valuable metal. This is an important step and all types of investors, big and small, should follow it mandatorily.
To help the readers, this article has mentioned the rates of silver in this state for the past six months below. They can find out the highest and the lowest prices of this precious metal for these months along with the percentage changes.
August 2020, silver rate movement in Punjab
|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 rates change every day. However, an investor does not buy silver every day. He/She buys silver in bulk and averages it when levels are preferable. Therefore, to make investment at desirable prices an investor must follow the silver rates thoroughly. The points to note about the month of August are below.
- The price for silver for the month of August opened at Rs. 65,100 per kg.
- It corrected much for the first two weeks and by mid-month price was at Rs. 68,000 per kg.
- On the last day of the month it closed at Rs. 66,600 per kg.
- The decreased prices lowered market sentiment but increased demand from big investors.
- Changing silver rates on an average was 18% in Punjab.
July 2020, Silver Rate Movement in Punjab
|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|
Below are some statistics on the silver rate in Punjab for the month of July. Analysis on its prices for different days of the month along with the important numbers that should be kept in mind are given below. Make sure you read through the points carefully.
- The changes in prices over the entire period of the month of July is given in the table.
- As on 1st July the recorded price is Rs.50,050 per gram and on 31st July is Rs.65,000 per gram.
- The highest recorded price that silver touched this month is Rs.660.00 per gram.
- And the lowest price in Punjab was at Rs.48,500 per gram.
- The change in performance for this month is recorded to be 36%.
June 2020, Silver Rate Movement in Punjab
|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|
The pomp in Punjab when it comes to festivals is always very high. Because of which the demand for silver from Punjab is also at a constant increasing level. For better study of the silver rate movement in Punjab we have compiled all the necessary data and key points below.
- Take a note on the prices for the first and the last day of the month as it is mentioned in the table.
- The peak price 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 same month was Rs.48,550 per gram.
- The prices show volatile trend this month but is steadier as compared to the other months of the year which show a heavier downside.
- Approximate calculation for overall analysis for the month of June 2020 is 6.50%.
May 2020, Silver Rates in Punjab
|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|
The first month to be discussed in this article in May and readers will find below all the details related to Silver Rate in Punjab. All the important data is mentioned in points for an easy understanding of whoever reading this article.
- In May 2020, the opening rate for 1 kg silver was Rs.41000 and the closing rate was Rs.50110
- This month saw a huge rise in the price of silver and the closing rate was Rs.9110 higher than the opening rate
- The highest recorded price in Punjab for 1 kg silver was Rs.50110 and the lowest rate was recorded as Rs.41000
- The growth in the price of this price precious metal was very throughout the month and investors in Punjab earned a good amount of profit
- The percentage change in the Silver Rate in Punjab per gram was 22.22%
April 2020, Silver Rate Movement in Punjab
|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|
In India, April marks the beginning of the financial year and it brings along numerous good investment opportunities for investors and traders. The Silver Rate Movement in Punjab shall be discussed thoroughly below for the reference of readers.
- The opening and closing rates of 1 kg silver in Punjab for this month were Rs.39940 and Rs.42520 respectively
- Silver recorded the highest value of Rs.42700 per kg on the 20th of the month
- The lowest rate for 1 kg of silver was recorded on the 1st of April and it was of Rs.39940
- The Silver Rate in Punjab per Gram increased gradually throughout the month in a small amount
- A percentage change of 6.46% was calculated in the growth of the silver rate in this state
March 2020, Silver Rate Movement in Punjab
|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 plays an important role in determining the Silver Price Movement in Punjab for 2020. This is because it is the last month of the financial year 2019-2020 and the national silver market experiences a lot of changes during this time. The silver rates for this month have been discussed below:
- The opening rate of 1 kg of silver on the 1st day of the month was Rs.48500 and the closing rate on 31st March was Rs.39480
- This month saw a good amount of depreciation in the rate of silver that can be calculated from the difference between the opening and closing rates
- The highest and lowest rates for this precious metal were Rs.51080 and Rs.39480 respectively
- On March 7th the Silver Price in Punjab per Gram touched the highest value and on 31st March the lowest value was recorded
- A huge percentage change of -18.6% was recorded in this month
February 2020, Silver Price Movement in Punjab
|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 highest and the lowest 22 Carat Silver Rate in Punjab in February 2020 will be discussed below along with the percentage change:
- In February this year, the silver market opened on the 15th with a rate of Rs.49500 per kg
- The closing rate on the 29th of the month was recorded to be Rs.48500 for 1 kg
- 24th of February saw the highest price of 1 kg silver which was Rs.51500
- The lowest price was Rs.48500 per kg and it was attained on the last day of the month
- In this month, the Silver Rate in Punjab per gram experienced negative growth of -2.02% like March
January 2020, Silver Price Movement in Punjab
|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|
The first month of a year is always special for investors and traders as the world market throws in various profitable opportunities.
Below the 22 Carat Silver Price in Punjab for January is mentioned and readers should go through the values thoroughly.
- The silver market in Punjab marked the opening price of Rs.49350 per kg and it closed on 23rd January with Rs.49000 for 1 kg
- The Silver Price in Punjab went up to the highest value of Rs.51000 per kg on the 6th of the month
- 48900 was the lowest 1 kg silver price in January 2020 and it was recorded on the 14th
- January was the third consecutive month in this year that saw depreciation in the rate of this precious metal
- The growth percentage was calculated to be -0.71%
December 2019, Silver Rate Movement in Punjab
|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|
Readers will be taken back to the 24 Carat Silver Rate in Punjab for December 2019, so that they get an idea about the performance of this commodity.
The highest, lowest, opening and closing rates of silver for the month has been discussed in the points below:
- The last month of the previous year opened with the price of Rs.46650 and closed with Rs.49350 for a kg
- The highest value recorded for 1 kg silver was Rs.49350 which is the closing rate
- In this month, the lowest price of silver was on the first day of the month and that is Rs.46650
- The Silver Rate in Punjab increased gradually throughout the month with a small amount of fluctuation
- 79% was the growth percentage recorded in the rate of this precious jewelry metal
Silver Rate in Punjab – Trend in 2020
The Silver Rate Trend in Punjab for 2020 can be derived from the rate movements discussed for the first few months of this year.
This precious metal showed bad performances in the first three months, namely, January, February, and March.
However, in the next two months, the silver market of Punjab improved and showed better performances.
Today Silver Rate in Punjab is far better than the beginning of the year. The rates in May showed a drastic change and recorded a very high closing value.
Investors are seeing positivity and they are motivated for investing in this valuable commodity once again.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Punjab – Trend in 2019
The Silver Rate Trend 2019 in Punjab is very different from the present trend. In 2019, the global market of silver showed some severe fluctuations in the rates of the metal but things were profitable for traders.
This year was not exposed to a massive pandemic that crashed the stock markets of the whole world. Thus, the rate of silver increased gradually and investors earned good returns at the end of the year.
If the present rate of silver is compared with the Historical Silver Rate in Punjab then the latter is much less than the former. This price difference is the result of inflation that has crept into the global economy.
What makes Silver Rates in Punjab to increase or decrease?
The Silver Rate in Punjab as on today keeps fluctuating as it is impacted by a wide range of reasons. If inflation grows in the international market then the price of silver is bound to increase.
The rise and fall in the valuation of the Indian Currency concerning the American Dollar also decrease and increase the rates respectively.
The demand in the local silver market also determines the Silver Rate in Punjab today per gram. If the demand is high then the silver rate will be less and vice-versa.
The import duty and taxes levied by the state government also play pivotal roles in changing the price of this precious metal.
What are the various measuring units of Silver in Punjab?
The technique used for measuring Silver in Punjab is the same as that used for measuring gold. Jewelers use accurate measuring units and nicely calibrated instruments for measuring this metal as it is very expensive.
When a customer visits a jewelry shop in Punjab, he should ensure the shop owner charges the correct price of silver and weighs the final product accurately.
For measuring silver, troy weight and gram are the most common measuring units used by traders. They also use kilograms, Masha, Tola, million ounces, troy ounce for weighing this commodity.
Readers can check out the relationship between these units below:
- 1 Kilogram = 1000 grams
- 1 Troy ounce = 31.1035 grams
- 0.972 gram = 1 Masha
- 1 Tola = 12 Masha
- 1 Tonne = 1000 kilograms
How much is the Tax Levied on Silver Rate in Punjab?
Gold and silver are two very expensive metals that attracted a lot of taxes before GST was brought into effect in India. Today, only 3% of GST is imposed as the Tax on Silver Rate in Punjab.
This has reduced a lot of burden of traders and investors in this state as they can buy a lot of this commodity.
A small amount of GST is also charged on the making charge of silver jewelry which is calculated on the total rate of the metal bought.
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 Punjab?
The Pure Silver Rate in Punjab is calculated in percentage across the world. All silver products are made up of an alloy of this metal that contains 94.79% pure silver and the rest some other metals. This alloy is stronger than the pure form of this metal and is called 22 Carat Silver.
An investor can use a piece of a magnet for checking the purity of the silver product he has purchased from a jeweler. He needs to take the magnet near the product and if it gets attracted then the silver used is impure.
Silver Rate in Punjab – Conclusion
This article has nicely described the Silver Rate in Punjab that will guide new investors and traders who have just started dealing with this metal.
It contains the highest, lowest, opening, and closing rates for the past five months. The performance percentages for these months are also mentioned in the article along with the rate trends for 2019 and 2020.
Today Silver Rate in Punjab looks better and suitable for investment. The rates are increasing gradually and investors can look for some profitable deals soon.
However, they should keep a track of the rates of silver to ensure the right investment opportunity is not missed out on.