Silver rate in Balangir
silver rate in balangir

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

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

Balangir is a city located in the state of Orissa. The place is known for its cultural heritage. The jewellery and metal market of Balangir offers an array of silver items. The metal is known for its wide usage in industrial areas. Due to this, the place experiences a rapid increase in the demand for silver.

People can see the fluctuation of silver prices in Balangir. Here are the details one needs to know before investing in silver in Balangir. Silver has replaced various traditional methods of investing. Consumers are now shifting their investments from the share market to silver. Especially whenever there is inflationary pressure in the economy, the people of Balangir look towards investing in silver. The use of silver in the industrial region also covers its maximum proportion. While there are users who acquire the metal as their heirloom jewellery.

Silver rates as per grams in Balangir

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%)

How Can You Invest in Silver in Balangir

People are looking forward to silver as an investment option. Before investing or buying it, you need to be observant about the rates of silver. Following the live silver rate in Balangir before purchasing it, will help you to make informed decisions. Apart from that, below are other checkpoints that you need to follow before investing.

Decide on the type

Silver comes in a variety of forms. Especially if you want to purchase silver only for investment purposes, you can invest in coins or bars. Later you can sell it to receive the profit. However, if you want to invest in silver jewellery, you can opt for silver anklets, bangles, chains and many more.

Look for the rates

One must monitor the silver rates before investing in it. Also staying in tune with the different risks attached to the investment policies in silver would help you invest in the metal at the right time.

Check its certification

The hallmarking concept of Silver was introduced in Balangir by the Bureau of Indian Standards in 2005. They implemented various grades that measure the purity of the silver. The maximum grade was 9999. Before buying silver, one needs to verify the certification marks.

Historical silver rates in Balangir 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%)

Impact of GST on Silver in Balangir

With the introduction of goods and service taxes, people have to pay extra tax charges while buying silver. The goods and service taxes make the Silver supply chains much more transparent. It helps to boost the economic growth of Balangir. However, the Silver price you see in the markets of belonging is all exclusive of the goods and service taxes. The Government of India levied 3% GST on the purchase of silver jewellery with effect from the first of July 2017. However, the making charges were levied as 5%.

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

Silver Rates and the Market Trends of Balangir

The prices of silver depend upon the demand and supply in Balangir. Due to the industrial demands, one may experience an enormous use of silver in the industrial sectors. Surprisingly you may not find any other metals that can replace the usage of silver. Moreover, the investment demands and import cost of silver make it an attractive option for people to invest in it.

Trend of Silver rates in Balangir

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

Things to Remember Before Buying Silver Jewellery in Balangir?

When buying silver jewelry in Balangir, 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 Balangir

What is the cost of silver in Balangir?

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How can you sell silver in Balangir?

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Is there any impact of GST on the silver prices in Balangir?

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Does GST impact the rate of silver?

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