Silver rate in Bokaro
silver rate in bokaro

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

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

Bokaro, also referred to as Bokaro Steel City, is a city in the Indian state of Jharkhand that was planned and developed. It is the fourth largest and most populous city in the state and is considered one of India's planned cities. Bokaro Steel City is situated on the banks of the Garga River and near the Bokaro River. The city is surrounded by hill ranges in Giridih and Ramgarh districts and is known for its peaceful atmosphere.
Industries are present in large numbers in Bokaro Steel City. Silver is used in machine parts in the industry. So a high demand for it increases its value and price. So the demand for silver is high here as compared to other cities.
Silver is a popular investment throughout the year, but during the festive season, the demand peaks. When the demand is high, the price of silver typically goes up; however, besides the market, various other factors also impact silver rates in Bokaro Steel. So, if you want to buy silver in Bokaro Steel, learn the current silver rates and understand the factors affecting them.

Silver rates as per grams in Bokaro

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%)

Factors affecting Silver Rates in Bokaro Steel City

Demand: With the increasing demand for silver, its price also increases. During the festive season, there is an exponential increase in silver demand in India.
 

Industrial Use: Bokaro Steel is an industrial hub. With increased production in industries, steel demand also increases, increasing the price of silver in the city.
 

Alloy Prices: Alloys like copper are often mixed with silver to create silver products. Changes in the price of these elements impact the silver rates in Bokaro Steel.
 

Interest Rates: Silver prices are inversely related to interest rates. When interest rates decrease, people start moving toward other safer options for investment. In such cases, they invest in silver.

Inflation: When inflation rises, more people buy silver to protect themselves, as silver is known to act as a hedge against inflation. This raises the price of silver.

Historical silver rates in Bokaro 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%)

Understanding the Demand for Silver In Bokaro Steel

The global demand for silver will continue to rise in the coming years. Over the past few years, the global demand for silver has increased.
This comes from several factors, including that more and more electronics are coming to market with silver in them. Silver is mainly used in jewellery for ornamental purposes. It is also used in the electronics and medical industries.
Bokaro is an industrial area. Silver is widely used in different machine parts. Therefore, there is a steady demand for silver in the city. The people of Bokaro city are also interested in purchasing silver coins, jewellery, utensils, and silver ETFs. Nowadays, silver is used in batteries, chips, and everyday gadgets, which increases the demand and prices of silver.

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

Some Interesting Facts on Bokaro Steel Silver Rates vs Other

  • In 2022, silver had its worst performance in years. The price of silver plummeted, and many investors lost a lot of money. The silver market was in chaos and took a long time to recover.
     
  • Electronic components like wires, switches, and circuit boards require a metal that is silver in colour.
     
  • The Egyptians knew a thing or two about value! Not only did they place a high value on silver, but they believed that it was worth more than gold. This may have been because silver doesn't tarnish as gold does so it could be stored as an investment.
     
  • When you look at silver prices historically, the prices have been more volatile as compared to other precious metals. This is because it is a smaller market.
     
  • In India, silver is popularly used for making spoons, miniature utensils such as a silver plates, and silver jewellery such as earrings.
     
  • Industrial demand for silver will likely increase as many sectors require silver as part of their manufacturing processes.

Trend of Silver rates in Bokaro

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

Paper Silver vs Physical Silver

When looking to buy silver, one can choose between two options: physical silver and paper silver. Both options are reliable and can yield positive results. Here is a comparison of the two: Physical silver refers to purchasing actual silver in the form of coins, bars, or jewellery. This type of investment allows you to physically hold the silver and can be helpful for those who want to store or use the metal for practical purposes. Physical silver can also be stored in a safe deposit box or a home safe.
On the other hand, paper silver refers to buying virtual silver through investments such as ETFs (Exchange-Traded Funds), futures contracts, or other financial instruments that represent silver ownership. These investments do not provide physical possession of the metal, but they allow investors to gain exposure to the price movements of silver.
Each type of investment has its own advantages and disadvantages, and the decision will depend on the investor's goals, risk tolerance, and other factors. It's advisable to consult a financial advisor or an expert before making any investment decision.

FAQs of Silver price in Bokaro

What are the other investment options in Bokaro Steel in Silver?

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Why should I invest in silver?

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Is silver worth investing in?

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Is Tibetan silver the same as pure silver?

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