Silver rate in Erode
Last updated on: 3th Feb 2023 10:00 AM
Erode is known for its temples and textile industry. The people living here are mostly farmers and other industrial workers. The economy of Erode is mostly dependent on its textile industry, which accounts for more than half of its gross domestic product (GDP).
Silver is a precious metal that has been used for investment for centuries. Owing to its relatively low cost, it is often chosen by investors who cannot afford gold. The silver rates in Erode have seen steady growth over the years, which can be attributed to the increasing demand for this precious metal as an investment commodity.
Silver rates as per grams in Erode
| 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%) |
Silver Rates in Erode vs Silver Rates in Other Cities
The silver rates in Erode are not as high as the silver rates in other cities. It is also true that they are not as low either. If you want to buy silver today, your investment value would be higher when compared with other cities. So this makes it easier for investors who want to invest without considering much risk before buying silver.
Factors that Affect Silver Prices in Erode
Supply and demand are major factors that affect silver prices
- The supply of silver is determined by the amount produced each year
- Demand is determined by how much people want to buy
If there is more demand than available supplies, prices will rise
- Inflation can also affect silver prices, with a rising inflation rate potentially causing prices to rise as well
- Government regulations and policies can also affect silver prices, as they may decrease demand for precious metals like gold and silver.
Historical silver rates in Erode in last 10 days
| 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%) |
Gold Rates vs Silver Rates in Erode
Gold rates are much higher than silver rates. But both are better investment options for those looking for long-term gains.
Investing in silver will allow you to build wealth over time and enjoy your wealth and other luxuries later on in life.
Weekly & monthly silver rate in Erode1 gram
What are the Investment Options Available in Silver?
Silver is a great investment option. There are many different options available, depending on your goals and needs. Below are some of the ways to invest in silver:
1. Physical investment - This would be buying physical silver bars or coins. This can be done at a coin dealer, jeweller shop, or online.
2. Paper-based investment - This is where you buy shares in a company that mines and sells silver. You can also invest in silver mutual funds or silver ETFs (Exchange Traded Funds).
Trend of Silver rates in Erode
| Day | Silver |
|---|---|
| 01 February 2023 | 74.8 |
| 05 February 2023 | 0 |
| Highest | 77.3 |
| Lowest | 74.8 |
Things to Remember Before Buying Silver Jewellery in Erode?
When buying silver jewelry in Erode, 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 Erode
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