Last updated on: 3th Feb 2023 10:00 AM
Chitradurga is both a prominent city and the capital of the Chitradurga district. It is located in the central part of the Indian state of Karnataka, in the valley of the Vedavati river. Most people in the area agree that silver is an excellent investment option as is cheaper than gold and still has a high value. Locals believe silver is lucky, so they buy it to mark special events.
But the price of silver changes every day. So, before investing in silver, you should know how much it is worth. Also, consider the quality of the metal when making a purchase decision.
Another new trend in the silver market is that you can now buy silver on paper instead of in the form of metal. Read on to find out how much silver costs in the city today, how it compares to gold, how to figure out how pure it is, and more.
Gram | Yesterday | Today |
---|---|---|
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%) |
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%) |
As an investment that can be traded, silver has some clear benefits:
When you buy silver jewellery or artefacts, the final price you pay will often include not only the price of the jewellery but also the cost of making it, hallmarking fees (if needed), and goods and services tax (GST).
How do jewellers figure out how much silver jewellery costs? The formula is the rate per gramme times the number of silver times the purity of the silver.
Let's say you want to buy an anklet made of silver that weighs 36.040 grammes. The jeweller says the price of silver is Rs 65 per gramme or Rs 65,000 per kilogramme. When you multiply Rs 65 by Rs 36,040 by Rs 0.925, you get Rs 2,166.91. The number 0.925 means that the anklet is 92.5% pure silver.
The jeweller will add an extra amount to cover labour, materials, and GST, which is 3% now. You must also pay 5% GST on the making charges.
Day | Silver |
---|---|
01 February 2023 | 74.8 |
05 February 2023 | 0 |
Highest | 77.3 |
Lowest | 74.8 |
When buying silver jewelry in Chitradurga, 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.
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