Silver rate in Bhagalpur
silver rate in bhagalpur

1gm:
74.20
0.00(0.00%)
1kg:
74,200.00
0(0.00%)

Last updated on: 29th Jan 2023 10:00 AM

Bhagalpur is a city in the state of Bihar,  which is renowned for its stunning textiles and fabrics. Besides being famous for its silk manufacturing, the city also has consistent demand for silver in its retail sector. People of Bhagalpur usually buy silver in the form of jewellery and silver coins. The demand for silver is exceptionally high during the wedding and festive seasons in Bhagalpur. 

Are you wondering why silver is a solid investment option and how to get started? You can invest in silver in other forms, such as bullion, bars, silver stocks, etc. It has a high demand in the electric and automobile industries due to its high thermal conductivity. It is notable as the most affordable precious metal, as compared to gold. It protects you against the uncertainty of the stock market. Silver prices in Bhagalpur are subject to fluctuation due to various factors such as economic trends, demand, supply, US dollar fluctuations, etc.

Silver rates as per grams in Bhagalpur

GramYesterdayToday
1gm
74.20
0.00 (0.00%)
74.20
0.00 (0.00%)
8gm
593.60
0.00 (0.00%)
593.60
0.00 (0.00%)
10gm
742.00
0.00 (0.00%)
742.00
0.00 (0.00%)
100gm
7,420.00
0.00 (0.00%)
7,420.00
0.00 (0.00%)
1kg
74,200.00
0.00 (0.00%)
74,200.00
0.00 (0.00%)

Silver as an investment in Bhagalpur

Silver is an affordable metal, making it a better choice for those who want to invest in precious metals. It is majorly invested in jewellery, coins, and bars in India. However, it can also be invested in the form of an e-silver. Some types of silver you can consider for investment are given below. 

Bullion: When you buy precious metals in bulk, it is called bullion. They are traded in the commodities market. Bullion is 99.5% pure silver which is further melted into bars and coins. Bullion with pure silver is called parted bullion, whereas bullion with impurities is called un-parted bullion.  

Jewellery: Silver jewellery is trendy in retail as it is more affordable than gold. However, investing in silver in the form of jewellery is not a good idea as it might lose its value over time.

Silver Coins: It is the most preferred form of investment in the middle-class mass of India as they are easy to buy and easily stored at home. Silver coins are more expensive than silver bars as the making charges, and labour cost is also included in the final price. 

Digital Silver: You can invest in digital silver or e-silver on the National Spot Exchange platform. It enables the investors to invest a smaller amount of money and hold their silver purchase in a Demat form. You have to open a depository account to start the investment process. 

Commodity Futures: You can invest in silver through the commodities market. You can trade silver in commodities future. It is a signed agreement to buy or sell a predetermined investment amount at a specific price and date. The cost of silver in this type of investment is higher, and the investor has to pay a particular part of the entire value of the agreement in advance. 

Historical silver rates in Bhagalpur in last 10 days

1 gram
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Day Silver
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%)
25 Jan 2023
74.00
0.00 (0.00%)
24 Jan 2023
74.00
-0.70 (-0.93%)
23 Jan 2023
74.70
0.40 (0.54%)
22 Jan 2023
74.30
0.00 (0.00%)
21 Jan 2023
74.30
-0.20 (-0.26%)

Factors Affecting Silver Prices in Bhagalpur

The silver prices in Bhagalpur keep changing based on demand, supply, and other national and global economic factors. Silver prices have been more stable for over a decade. Some of the significant factors that affect the silver price in Bhagalpur are given here.

Industrial Demand: In the retail sector, silver also has higher demand in the industrial sector. It is widely used in everyday appliances such as television, mobile phone, touch screen, etc. Due to its high thermal conductivity, silver is also used in making solar panels, RFID chips, and nuclear reactors. The medical industry also uses silver for its antibacterial properties. All these factors drive the high demand for silver in the market, significantly impacting silver prices.  

Investment Demand: Nowadays, people prefer to invest in precious metals like gold and silver as it provides a hedge against uncertain market trends. Some investors consider it a good choice for long-term investment due to the high demand and limited supply. As a result, investors are stocking this precious metal as it's desirable as an investment. 

Import Costs: Since Bhagalpur has no natural silver reserves, the major amount of its silver requirement is imported. The cost of import affects the price of silver in Bhagalpur and all over India. 

US Dollar Fluctuation: Silver trading is done in the US dollar. The USD index has an inverse relation with silver prices. If the US dollar is weak, the cost of silver in India will be higher, and if the US dollar is strong, then the price of silver will be increased in India.

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

Investment Options for Silver in Bhagalpur

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

Investors in Bhagalpur 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 Bhagalpur

1 gram
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Day Silver
01 January 20230
30 January 202374.2
Highest75.8
Lowest73.5

Things to Remember Before Buying Silver Jewellery in Bhagalpur?

When buying silver jewelry in Bhagalpur, 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 Bhagalpur

Will silver ever lose its value?

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Why should I invest in silver?

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What is fine silver?

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What silver is best for jewellery?

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