For innumerable reasons that change Silver Rate in West Bengal it is important to study the important facts underlining it.
Silver stands firm with a whole lot of properties that makes it a precious metal and is in high demand from the public, specifically from the rural population.
The people in West Bengal demand for silver for different uses. May it be jewellery or silverware, items for worship or for technology, silver does not go out of date for the state of West Bengal.
One’s investment strategy should be based on portfolio diversification. And, the best way to draw conclusions is by making use of all information possible.
This article is based on Silver Rate in West Bengal today and how different factors can lead to change in Silver Rate in West Bengal Live.
Silver Rate in West Bengal – 10 gm, 100 gm & 1 kg Silver Price in West Bengal Today
Fluctuations on the Silver Price in West Bengal today and yesterday are given in this section. We have compared data for 10 gram, 100 gram and 1kg for a better picture.
This information is based on 22 Carat Silver in West Bengal. To know about comparative and relative change in rates, follow the section below.
Also, Check out the Gold Rate in West Bengal Today
Silver Price in WB for Last 15 Days
We have tabulated the fluctuations of the past 15 days below. These movements of Silver Price in WB are a sneak peak for your future investment.
Take a closer look at how silver rates tend to fluctuate every day and understand the next course of action.
Check out Silver Rates of other Indian Cities & States
Silver Price in West Bengal – Past 6 Months Price
Past records are always supposed to be taken into account whenever portfolio diversification is talked upon. Similar thumb rule applies to silver prices in West Bengal.
To make sure you purchase silver at the correct time and correct price, run through information on the past six months for a stronger view.
August 2020, silver rate movement in West Bengal
|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 state of West Bengal, invests in all the available market indices so that portfolios can be diversified and the investor can gain from many mediums in the market. The silver rates fluctuated quiet much in the month of August in West Bengal. We have listed the important statistics below.
- Although silver is a cheaper metal than gold, it somewhat moves alongside the gold index.
- The highest price for the month was Rs. 76,510 per kg.
- The lowest price was Rs. 65,000 per kg.
- The table has the highest price and the lowest price for the month as well.
- We have calculated the change in rates of silver this month, and for the state of West Bengal it is 18%.
July 2020, Silver Rate Movement in West Bengal
|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|
Knowing about changes that silver rates undergo is an important step towards portfolio diversification. This allows the investor to know if it is the correct time to buy, sell or average the metal. To make it easier for the investor, changes in silver rates in West Bengal are laid down below.
- For the investor’s 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 wasRs. 66,050 per gram of silver.
- On the other hand, the lowest price level for the month 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 month was Rs.65,000 per gram.
- The overall analysis for this month forSilver Price in West Bengal per Gram stands at 36%.
June 2020, Silver Rate Movement in West Bengal
|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 the state of West Bengal, we have made sure to include all necessary aspects on its study to get precise portfolio related guidance. These numbers are directly extracted from the silver market and tabulated in the simplest format below. Read the important points to take into account while studying silver rates in West Bengal as well.
- The opening price that is on the first day of the month and the closing price as on the last day of the month is shown in the table
- The highest and lowest touched price is also mentioned.
- Price as on 1st June is Rs.50,150 per gram and on 30th of June is Rs.48,550 per gram.
- The highest price for the month is Rs.48,800 per gram and lowest price Rs.47,100 per gram.
- We have made note of the overall percentage change for the month, which is approximately calculated as 6.50% for the state of West Bengal.
May 2020, Silver Rates in West Bengal
|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|
We have put up the silver rates in West Bengal in a table below. Look through necessary information and make notes of the important extracts mentioned below.
- For the month of May, prices as on the first day of the month and the last day of the month are mentioned in the table.
- On May 1st the recorded price for the silver rate in West Bengal per gram is Rs.41,000 per kg.
- And the price as on 31st May was Rs.50,110 per kg for the same.
- The highest price was seen on the first day of the month and the lowest on the last day of the month.
- The percentage change in prices are estimated to be 22.22%
April 2020, Silver Rate Movement in WB
|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|
Take a glance at the changes in the silver rate movement in WB for the month of March. Key take-away points for the readers benefit are jotted down in a lucid format below.
- We have enclosed below a table with prices of silver rate fluctuations for the month of April.
- The prices for the first day and the last day of the month are mentioned along with the highest price and the lowest dip.
- The peak price forsilver rate in West Bengal per gram this month is at Rs.42,700 per kg and the lowest rate touched is Rs.39,940 per kg.
- The two prices are mentioned in the table. 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 price showed major movement in the third week of the month and noted an overall performance of 6.04%
March 2020, Silver Rate Movement in West Bengal
|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|
The month of March showed volatile trends for the silver price movement in West Bengal. We hope this section helps you to understand how global changes can impact the prices of silver in the local market.
- The price movement this month is negative as the country was strongly hit by the global pandemic.
- The opening price for the month is Rs.48,500 per kg and closing price is 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 was touched at Rs.39,480 per kg.
- We have calculated the overall percentage change in Silver Price in West Bengal per Gram, which is -18.60% for this month.
February 2020, Silver Price Movement in West Bengal
|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|
Numbers on changes in 22 Carat Silver Rate in West Bengal is covered in this section. Points to be noted are jotted down in the below section.
- 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 for the same month the closing price is at Rs.48,500 per kg.
- The peak point of price was Rs.51,500per kg as on 24th Feb and the lowest price level for the month was Rs.48,500 per kg on 29th Feb 2020.
- There were slight fluctuations in the silver rate in West Bengal per gram throughout the month. The overall performance is calculated to be -2.02% which is quiet as better than that of March.
January 2020, Silver Price Movement in West Bengal
|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 month of January marks the beginning of a new year which impacts prices of metal, be it gold or silver.
Buying precious metal for good luck leads to change in prices as compared to previous year rates. All information on 22 carat silver price in West Bengal is laid down in this section.
- Take a bird’s eye view for January for the change in price from January 1st to January 31
- The table also has numbers on the highest and lowest price for the month.
- For this month, the price of the metal as on 1st January is Rs.49,350 per kg and on 23rd January is Rs.49,000 per kg.
- The peak point for this month was Rs.51,000 per kg on 6th January and the lowest point is Rs.48,900 per kg on 14th January 2020.
- The performance level has been calculated as -0.71% for silver price in West Bengal.
December 2019, Silver Rate Movement in WB
|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 month price fluctuations in 24 carat silver rate in WB is covered in this section. Some points to keep in mind are mentioned below.
- Fluctuation on silver prices for the month is available in the table for the reader’s reference.
- 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.
- Price on the first dayof December is Rs.46,650 per kg and on the last dayis Rs.49,350 per kg.
- The peak price for the month dated on 31st December is Rs.49,350per kg and the lowest price at Rs.46,650 per kg as on 1st
- The overall performance calculated for this month is 5.79% for silver rate in West Bengal.
Silver Rate in West Bengal – Trend in 2020
The demand for silver in West Bengal is an on-going cycle as silver is highly used in West Bengal. Its uses are plenty which include making of batteries, jewellery, ornaments, chemical generation and more.
Due to constant demand for silver from the state, the silver rate in West Bengal is seen to have positive trends and keeps on increasing.
For the year 2020 in particular, initially silver rates in West Bengal and the entire nation saw major volatility due to the pandemic and tension between India and China.
However, after changes made in economic policies, silver rate again began to take a steady upside.
Today silver rate in West Bengal is at a good place as investors chose to invest in metals believing in it to be a safe tool to hedge against future inflation.
Check out Silver Rates of other Indian Cities & States
Silver Rate in WB – Trend in 2019
The silver rate trend 2019 in West Bengal can be said to be fluctuating as many political and social happenings indirectly impacted silver rates. United States of America and China faced off trade imbalances which struck metal rates in India.
The stock market shows a fine lined link between prices of silver. If the market rates increase, silver price also tend to increase and vice versa.
The historical silver rate in WB has seen changes due to inflation, increase in interest rates and demand from jewellery market.
Silver being a precious metal has high rated value in the market. Against limited supply, demand for silver to store in for future needs also raises silver rates.
What makes Silver Rates in West Bengal to increase or decrease?
West Bengal is considered to be the largest importer of silver in world. Of all the demand for silver from the entire world, 20% of the overall world demand comes from the state of West Bengal.
States of West Bengal are rich with artisans who are gifted with artsy skills and who make silver bangles and coins.
Some more reasons for change in silver rates in West Bengal as on today are discussed below.
- Silver rates move hand in hand with gold rates. When gold rate increases, silver rate in West Bengal today per gram rise too and when gold rates plunge, silver rate face a drop as well.
- Because of West Bengal being the largest importer of silver. Silver is used to make ornaments and jewellery by famous artisans and jewellers.
- International factor can also cause volatility in the silver market.
- With an increase in economic uncertainty, the demand for silver to store in times of crisis increases which leads to increase in silver rates.
What are the various measuring units of Silver in West Bengal?
Measuring units differ from metal to metal. Silver has a standard measuring unit and is recognized nation-wise.
The need for a measuring unit is very essential when it comes to purchase or sale of a metal. Silver in West Bengal is measured as per troy ounce.
1 troy ounce measures 31.1035 gram of silver. Thus, standard of measurement initially began in the French town of Troy and is still continued to be in practice even today.
How much is the Tax Levied on Silver Rate in WB?
The onset of GST in 2017 made it mandatory to levy taxes on all luxuries. The central government imposed 3% GST on silver which is applicable in all the states of the country. Other additional charges and taxes imposed on silver differ from state to state.
The tax on silver rate in WB is used by the government for bringing up the state and on infrastructure, transportation and heritage protection.
Additional charges inputted on silver in West Bengal are making charges, import duties and broking charges.
Find Silver Rates of other Indian Cities & States
|Silver Rate in Uttar Pradesh||Silver Rate in Bhubaneswar||Silver Rate in Jaipur|
|Silver Rate in Madurai||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 West Bengal?
Purity of silver can be checked by different methods. The most accurate one is, by testing it through chemicals in order to differentiate between pure silver and silver coating.
Pure silver rate in West Bengal is influenced by the final products made out of pure silver. Another local trick to find out pure silver is by using magnet.
If magnet sticks to your silver product then the silver is pure and if not then there could be a fault in the particular product. However, it is always recommended to follow the chemical testing for apt results.
Silver Rate in West Bengal – Conclusion
We have summed up all the reasons that impact the silver rates in West Bengal in this article. We hope you analyse the past data that we have laid down to make further analysis of your investment possible.
Proper research is always necessary when it comes to investment. We have compiled all necessary information on today silver rate in West Bengal so, that it helps you for your portfolio diversification.
Therefore, for a collective decision make sure you take in account all the points that we have discussed in the article.