Silver rate in Imphal
silver rate in imphal

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

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

Imphal, the capital of Manipur, is one of northeastern India's most historically significant cities. Imphal is under the Smart City development project led by the Union Ministry of Housing and Urban Affairs. Imphal has several significant religious and historic sites both inside and outside the city. On the banks of the Imphal River is the Kangla Palace, also referred to as the Kangla Fort.
Traditionally, Imphal people have considered silver an auspicious metal and love wearing silver jewellery and accessories. However, increasingly people here are choosing to invest in silver as a safe option.

Silver rates as per grams in Imphal

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 Imphal


Silver also witnesses its fair share of price fluctuations like any other investment instrument. Several factors contribute to fluctuating silver prices in Imphal.


Demand and supply factor


Demand and supply are the most common factors responsible for silver prices going up or down daily. If the demand for silver is high, the prices increase; when demand falls, so do prices.


US Dollar prices


The US Dollar rate is one of the most significant factors in global silver and other commodity prices. The US dollar's weakening with respect to the Indian rupee increases silver prices. If the Indian Rupees become weaker with respect to US Dollar, the silver prices also fall.


Oil prices


Often, oil sellers demand physical asset backing from their purchasers. For this reason, oil purchasing companies often hoard silver to ensure they can safely pay in terms of ever-changing US Dollar prices.


Industrial Demand


Silver is used extensively across industries — healthcare, electronics, and electric vehicles. The industrial demand for silver also often plays a crucial role in price fluctuations.


Inflation


Inflation plays a significant role in silver price variation. During high inflation, silver prices also increase as more people start investing in the metal for better returns.

Historical silver rates in Imphal in last 10 days

1 gram
DownArrow
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%)

Impact of GST on silver prices in Imphal
 


The Goods and Services Tax (or GST) was introduced to bring every product or service sold in India at a uniform price across all the states. The union government and the respective state governments divide the GST revenue equally. Currently, the GST rate for silver in Imphal and throughout India is 3%.
But there are other charges the union government and the state governments can apply. For example, import Duty.
If you are importing silver from abroad, you need to pay a 12.5% import duty on the total value of your imported silver. As Agriculture Infrastructure Development Cess, you will also attract an additional 2.5% cess.

Weekly & monthly silver rate in Imphal
1 gram
DownArrow

7 Days
30 Days
3 Months
6 Months

Investment options for silver in Imphal:


There are several ways you can invest in silver in Imphal. Let us discuss some of the most popular ones.


Physical silver


Silver can be stored as bullion, coins and ornaments. It is still one of the most popular ways of investment. You can buy silver bullion and coins at local public sector banks like the State Bank of India (SBI). You can also go to reputed jewellery stores offering BIS hallmarked 99% pure silver.
 


Digital silver


You can invest in silver directly through some popular mobile applications and websites. You can buy silver directly from your bank account via credit/debit card or UPI. Most platforms promise to store physical silver on your behalf, and you can invest by buying silver worth just ₹1. Then once you accumulate a certain quantity, you can get the silver delivered to your doorstep or sell it for profit.


Silver ETFs


If you don't want to keep any physical form of silver but still want to invest in it, silver ETFs or Silver-based Exchange Traded Funds can be the best option. You can make profits when silver prices increase in the physical market.

In September 2021, the Securities and Exchange Board of India (SEBI) allowed mutual fund operators or fund managers to invest in silver, similar to gold. The mutual fund houses need to invest 95% of the total fund value into 30 kg of 999 or 99% pure silver and 5% of the silver-related instrument. This way, the fund houses will be able to keep your investment safe from market fluctuation and keep giving you profits regularly.

 

Silver futures


Investing in silver futures is also a great option. In this process, you promise to buy or sell the silver in the future on paper and wait. If the price of silver goes up or down depending on your choice of the transaction, i.e., buy or sell, you will make a considerable profit.
 

Trend of Silver rates in Imphal

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

Understanding silver purity in Imphal:
 


Silver purity or fineness is often denoted in percentages.

The purest form of silver, or 999 silver, is 99.9% pure. It is the best option for direct investment in silver, as it's easy to buy, sell and store. It is also the most expensive form of silver.
Also known as Britannia silver, 970 silver is 97% pure. It is mainly used for minting silver coins and making silver articles.
Sterling silver, or 925 silver, is 92.5% pure. It is most commonly used to design certified silver jewellery.
The other common purity levels of silver are 900 silver (90% pure), 835 silver (83.5% pure) and 800 silver (80% pure).
Whatever physical form of silver you purchase, always ensure the presence of the BIS hallmark.

FAQs of Silver price in Imphal

Apart from jewellery, where is silver consumed?

DownArrow

What is the best way to buy silver?

DownArrow

How can you verify the purity of silver?

DownArrow

Is GST applicable for my silver purchase?

DownArrow