Silver rate in Agra
silver rate in agra

1gm:
77.30
0.00(0.00%)
1kg:
77,300.00
0(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Known as a cultural melting pot of diversity, Agra is a beautiful city located on the banks of Yamuna in the state of Uttar Pradesh. The ancient city has been attached to art, religion, and culture. Synonymous with the Taj Mahal and Agra Fort, the city is also known for its silver ornaments and heirlooms.

Besides being known for its thriving tourism industry, Agra has evolved into a vibrant industrial town post-independence. It is also a prominent hub for making silver jewellery and other silverware. For many decades, silver has been a preferred investment option in Agra's rural and semi-urban areas for the past few decades. It can be attributed to the fact that silver is more affordable than gold.

Silver rates as per grams in Agra

GramYesterdayToday
1gm
77.30
0.00 (0.00%)
77.30
0.00 (0.00%)
8gm
618.40
0.00 (0.00%)
618.40
0.00 (0.00%)
10gm
773.00
0.00 (0.00%)
773.00
0.00 (0.00%)
100gm
7,730.00
0.00 (0.00%)
7,730.00
0.00 (0.00%)
1kg
77,300.00
0.00 (0.00%)
77,300.00
0.00 (0.00%)

Factors Affecting the Prices of Silver in Agra

The ever-increasing use of silver across different segments has often led to a spike in demand. Silver, as we already know, has numerous industrial applications. Various internal and external factors affect the national and global silver rates. In the first seven months of 2022, silver imports into the country surged by approximately 5,100 tonnes. Data from the Ministry of Commerce and Industry indicates that the country's silver imports for the whole of last year, 2021, were pegged at 2,773 tonnes.

Some of these are as follows: 

Supply and Demand: This major factor affects silver prices in Agra, especially during the festive and wedding seasons. The supply of silver is limited, but the demand is constant. Like other commodities, silver prices will increase if the demand increases and vice versa. 

Dollar Rate Fluctuations: As we already know, the US Dollar is a leading global currency, and fluctuating dollar rates create pressure on silver prices. When the dollar is strong against the Indian rupee, the silver price rises; when the dollar gets weak, the silver prices also fall.

Inflation: Like gold, silver is a precious metal that can help you hedge against inflation. Every investor and economist knows the deceptive nature of inflation on financial portfolio value. Silver adds value to your portfolio and protects you against losses due to decreasing purchasing power. 

Economic Trends: In general, silver is considered a relatively safe investment. However, national and global economic trends impact the price of silver at some level. If the cost of raw silver increases, the price of silver items also increases. For instance, in the unlikely event of wars, silver prices can take a hit.

Government Policies: Silver is considered a medium of exchange. Therefore, the silver price also fluctuates due to government policies and other actions. The silver rates get influenced by the change in taxes, transportation costs, import duties, etc. A slight change in these factors by the government directly impacts the price of silver in Agra.  

Gold Prices: There is a historical relationship between the two precious metals, usually represented in the Gold-Silver Ratio (GSR). The GSR denotes the number of ounces of silver it takes to equal the value of one ounce of gold. As the gold prices increase or decrease, the silver price gets affected similarly.

Interest Rates: The interest rates on any asset indicate the overall market condition of that asset. Investors usually go for interest payments rather than long-term appreciation. Therefore, silver's market price is correlated with the interest rates. If the interest rate of silver is high, then the market price will be significantly higher. When the interest rates are low, the market price will automatically get lower.

Historical silver rates in Agra in last 10 days

1 gram
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Day Silver
04 Feb 2023
77.30
0.00 (0.00%)
03 Feb 2023
77.30
0.00 (0.00%)
02 Feb 2023
77.30
2.50 (3.35%)
01 Feb 2023
74.80
0.30 (0.41%)
31 Jan 2023
74.50
0.30 (0.41%)
30 Jan 2023
74.20
0.00 (0.00%)
29 Jan 2023
74.20
0.00 (0.00%)
28 Jan 2023
74.20
-0.40 (-0.53%)
27 Jan 2023
74.60
-0.40 (-0.53%)
26 Jan 2023
75.00
1.00 (1.36%)

Difference Between Silver and Gold

Gold and silver are two precious metals that are commonly used as investments and as a store of value in Agra. Both metals are bought and sold on commodity markets, and their prices can fluctuate based on a variety of factors, such as supply and demand, interest rates, and global economic conditions.

When studying the differences between gold and silver in Agra, it's important to consider:

  • The price of the metal: Gold is generally more expensive than silver. The price of gold is usually quoted in Indian Rupees (INR) per 10 grams, while the price of silver is quoted in INR per kilogram.

  • The demand for the metal: Gold is traditionally more popular than silver in Agra, as it is considered a status symbol and is often used for making jewelry. Silver, on the other hand, has more industrial applications and is also used in households.

  • Investment potential: Both gold and silver are popular investment options in Agra, but gold is considered a more stable investment.

  • Liquidity of the metal: Gold is considered to have better liquidity than silver as the demand for gold is more and the market is more liquid.

  • The volatility of the price: The price of silver tends to be more volatile than the price of gold, which can make it a riskier investment.

It's important to remember that both gold and silver have their own unique properties and benefits, and both can be good investments. It's important to consult with professionals, such as a financial advisor, before making any investment decisions and also consider factors such as individual preference, financial situation and also on current market conditions.

Weekly & monthly silver rate in Agra
1 gram
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7 Days
30 Days
3 Months
6 Months

Investment Options for Silver in Agra

Silver is a precious metal that is often bought and sold on commodity markets and can be considered as an alternative investment option inAgra. The price of silver can fluctuate based on a variety of factors, such as supply and demand, interest rates, and global economic conditions. In Agra, the price of silver is often quoted in Indian Rupees (INR) per kilogram.

Investors in Agra may choose to invest in silver through a variety of means such as buying physical silver, buying silver ETFs or investing in silver mining stocks.

  • Physical Silver: Investors can buy physical silver in the form of bars, coins, or jewelry and hold it as a store of value. One advantage of buying physical silver is that investors can hold it directly in their possession, giving them control over their investment. However, physical silver also involves certain costs like, storage and insurance, and also it's not easy to liquidate it quickly.

  • Silver ETFs: An ETF is an investment fund that is traded on stock exchanges, like shares. ETFs that track silver allow investors to invest in silver without actually owning the physical metal. These ETFs can be bought and sold just like stocks and are considered to be more liquid and easier to trade than physical silver.

  • Silver Mining Stocks: Investing in silver mining stocks is another way to gain exposure to the silver market. When an investor buys shares of a silver mining company, they are buying a stake in the company's assets and profits. However, this type of investment carries more risk than investing in physical silver or ETFs as the performance of the company, management and also the mining conditions can affect the stock's performance.

When it comes to investing in silver, it is important to be aware that the price of silver can be volatile and may fluctuate based on various factors such as economic conditions, supply, and demand. Before making any investment decisions, it is always wise to consult with a financial advisor and also do research to gain a better understanding of the market conditions and the potential risks and returns associated with investing in silver.

Trend of Silver rates in Agra

1 gram
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Day Silver
01 February 202374.8
05 February 20230
Highest77.3
Lowest74.8

Things to Remember Before Buying Silver Jewellery in Agra?

When buying silver jewelry in Agra, it's important to keep the following things in mind:

  • Quality: Make sure to only buy silver jewelry from reputable jewelers who use high-quality silver. Ask to see the purity certification for the silver, and ensure that it is hallmarked by the Bureau of Indian Standards (BIS).

  • Design: While buying silver jewelery also consider the design of the jewelry. Check for the intricate details and craftsmanship of the piece.

  • Price: Compare prices from multiple jewelers to ensure you are getting a fair price for the piece. Be aware of any additional charges, such as import duties or GST, that may affect the final price.

  • Hallmarking: Always check the authenticity of Hallmarking on your silver jewelry, it gives you the assurance of the purity of silver.

  • Returns and exchanges: Find out if the jeweler has a return or exchange policy, just in case the piece doesn't meet your expectations.

  • Purpose: Think about why you are buying the silver jewelry, is it for personal use or as a gift. Also, consider if it's something you can wear often, and it would look good with your existing collection of jewelry.

  • Aftercare: Ask about the jeweler's recommendations for cleaning and maintaining your silver jewelry, to ensure it remains in good condition.

FAQs of Silver price in Agra

What is the best time to buy silver in Agra?

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How can I check silver purity in Agra?

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Which quality of silver is best?

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What is the best way to invest in silver?

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