Silver rate in Akola
silver rate in akola

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

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

Are you looking for places to buy silver in Akola? Does the white metal appeal to your senses? Then, you are a part of the growing community of silver enthusiasts in this quaint Maharashtrian town.

Located in eastern Maharashtra, Akola is known as the state's cotton capital. The population consists of traders and farmers who invest in different types of silver-based products.

Traditionally, silver and gold are favourites among most households in India. The demand for both metals tends to increase during the festival season. Buying coins, in particular, is an excellent and popular way to invest in silver.

Silver is a versatile metal with 360-degree applicability. From jewellery to industrial products - it is used in many areas. And the higher the demand, the bigger the prices of silver. Hence, besides festivities, the industrial demand for silver also determines the current silver rates in Akola.

Before you invest, learn about the current rates and understand various aspects of silver as an investment. So, read on!

Silver rates as per grams in Akola

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%)

Some Interesting Facts on Silver

Silver is a natural metal; its traces are found in shellfish, fish, mushrooms, and oysters. Sounds astonishing? Brace yourself for more such facts about silver. Continue reading:

  1. Silver is used in water purifiers to prevent the buildup of algae, bacteria etc.
  2. In ancient Egypt, silver was considered more valuable than gold.
  3. Silver is widely used in electronic components like wires, switches, and circuit boards.
  4. Silver has a unique shine. The atomic symbol of silver - 'Ag' - is derived from a Greek word meaning 'shiny'.
  5. Silver is also used in many photovoltaic industries.
  6. Mexico, Peru, the US, Canada, Russia, and Australia are among the largest silver-producing countries in the world.
  7. Silver helps diagnose diseases like tuberculosis.

Historical silver rates in Akola in last 10 days

1 gram
DownArrow
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%)

Comparative Analysis of Gold vs Silver in Akola

  • Silver has a wider range of uses, including industrial and manufacturing applications, while gold is primarily used in jewelry and other decorative items.
  • Silver prices tend to be more volatile than gold prices due to the smaller market size.
  • Silver requires climate-controlled storage to prevent oxidation, while gold can be stored in any secure location.
  • The market for silver as an investment instrument is not as developed in India as it is for gold, with fewer options available such as ETFs and commodity futures.
  • Silver is less expensive than gold.

Weekly & monthly silver rate in Akola
1 gram
DownArrow

7 Days
30 Days
3 Months
6 Months

Paper Silver vs Physical Silver

  • Paper silver does not have any storage costs, while physical silver incurs high storage costs.
  • Paper silver is traded in unlimited quantities, while physical silver is a natural resource and thus only available in limited quantities.
  • With paper silver, you do not own the physical metal, whereas with physical silver, you have ownership of the metal.
  • The market for paper silver is 243 times larger than the market for physical silver.
  • Paper silver comes with credit risk, while physical silver does not have credit risk.

Trend of Silver rates in Akola

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

Things to Remember Before Buying Silver Jewellery in Akola?

When buying silver jewelry in Akola, 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 Akola

Will silver ever lose its value?

DownArrow

How to invest in silver without hassle?

DownArrow

How does sterling silver differ from pure silver?

DownArrow

What factors impact silver prices in Akola?

DownArrow