Silver rate in Gwalior
silver rate in gwalior

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

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

Precious metals such as Gold and Silver have always been in demand throughout history for different purposes. While gold has always been a favourite for the people of Gwalior, silver has witnessed a more diverse usage in the industrial sectors, such as green technologies, the photovoltaic industry,  automobiles, and many more.
Gwalior is a beautiful state capital of Madhya Pradesh, India. Apart from its hilly landscapes, Gwalior emerged as a tourist spot in India, boosting businesses in silver jewellery, textiles, handlooms, and handicrafts.

Silver rates as per grams in Gwalior

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 is the Purity of Silver Evaluated in Gwalior?


Pure silver is a soft, malleable metal with high electrical and thermal conductivity. Therefore, it is combined with other metals to make strong objects that are not easily breakable and sensitive to heat.
The purity of silver is described using the millennial system. It uses a number that represents the fineness of silver alloy. 
While investing in silver, you may come across terms like 'Brittania Silver' or "Sterling Silver." These are the hallmarks that indicate the purity of the silver. Some common denominations that can be used to determine the purity of silver in Gwalior are as follows.
 

Pure or Fine Silver

  • Fineness Number: 999
    Purity (in %): 99.9

Brittania Silver

  • Fineness Number: 958
  • Purity (in %): 95.8

Sterling Silver

  • Fineness Number: 925
  • Purity (in %): 92.5

Jewellery Silver

  • Fineness Number: 800
  • Purity (in %): 80

Historical silver rates in Gwalior 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%)

Silver as an Investment in Gwalior


Silver has been a popular choice for investment for thousands of years. It is mostly owned in the form of silver coins, bars, and bullion in India.
Nowadays, people also consider investing their money in silver trading. Here's how you can invest in silver:
Silver bullion: When you buy 99.5% pure silver in bulk, it is referred to as silver bullion. There are two types of silver bullion: 'parted bullions' with no impurities and 'un-parted bullions' that come with impurities. It is further melted to make silver coins and bars.


Silver jewellery: Investing in silver jewellery is the most popular choice as it's cheaper than gold. Make sure that you keep in mind that if your jewellery is being made by melting silver bars, then it may have lost its actual value. 


Silver coins: It is one of the major choices for middle-class families as silver coins are easy to purchase, store, and liquidate. It is the perfect option for people who want to make a small investment in precious metals. Silver coins are more costly than silver bars due to their labour costs. 
 

Digital silver: People can invest in silver on a trading platform called National Spot Exchange (NSE). Investors can invest their money in smaller chunks and own the digital silver in a Demat form. Investors have to make a depository account on the platform to start the investment process and use other features of NSE.  
 

Commodity futures: It is another type of silver investment that can be done through the commodities market. You can use commodities' future contracts in the commodity market to buy or sell a fixed amount of silver at a specific date and price in the future. Remember that this digital silver investment costs more than the physical silver, and you have to pay a certain amount of the contract in advance. 

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

Factors Affecting Silver Prices in Gwalior
 

Silver prices fluctuate due to several factors such as supply, demand, economic trends, government rules, etc. Some major factors affecting silver prices in Gwalior are:
 

Industrial demand: Due to its unique features, silver is widely used in industries to make cell phones, screens, television, solar panels, RFID chips, nuclear reactors, and many more. It is also used in the medical industry due to its antibiotic properties. All these create a huge demand for silver in industries making the price fluctuates regularly.
 

Investment demand: Many investors consider silver a safe and affordable option for long-term investments. It became a popular metal to invest in in the past few decades due to its increasing demand and expanded resources; moreover, investors stock silver in advance, which impacts silver prices. 
 

Import costs: Gwalior has to fulfil the demand for silver through imports only as it does not have any natural resources. The cost of importation directly affects the price of silver in Gwalior. As silver is traded in the US dollar, the fluctuation of dollar price against the rupee affects the import duties, which reflects in the silver rates.

Trend of Silver rates in Gwalior

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 Gwalior?

When buying silver jewelry in Gwalior, 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 Gwalior

Is silver a good investment to consider?

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Are silver coins a pure form of silver in India?

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What is the difference between fine silver and sterling silver?

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Is there a limit to buying silver in India?

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