Silver rate in Kanpur
silver rate in kanpur

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

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

Kanpur, the biggest city in Uttar Pradesh, is a hub of industrial and commercial activities. In the past, it was known as Manchester of India as the cotton industry was in full fledge then.
The demand for silver in Kanpur comes from various sources. Silver, a precious metal, is purchased in various forms by the people of Kanpur. Silver Coins, Silver Bars, and Silver Ornaments drive the demand for silver. Further, silver is a metal which is also used for industrial purposes. So, industries that are in the production of electronic devices, solar panels, etc., also use silver in their production processes. The Demand for Silver increases in the time of festivals like Diwali or Wedding seasons as people who cannot afford gold go for silver ornaments.

Silver rates as per grams in Kanpur

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%)

Comparative Analysis of Gold vs Silver in Kanpur


Silver’s rate per gram is very low compared to gold in Kanpur. Silver is also known as common people’s gold, as those who cannot afford gold go for silver ornaments. Following is the comparative analysis of Gold vs Silver:


Gold
 

  • Unit of Measurement: 10 gram
     
  • Purity Measurement: Karat
     
  • Purest: 24 karat
     
  • Industrial Use: Almost none
     
  • Per Gram Price: Higher than silver
     
  • Density: 19.32 g/cm3
     
  • Storage Space Requirement: Lower than silver
     

Silver
 

  • Unit of Measurement: 1 gram and 1 kilogram (silver bars)
     
  • Purity Measurement: Fineness
     
  • Purest: 999 fineness
     
  • Industrial Use: Used in industries like electronics, solar panels, etc.
     
  • Per Gram Price: Higher than silver
     
  • Density: 10.49 g/cm3
     
  • Storage Space Requirement: Higher than gold

Historical silver rates in Kanpur 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%)

How is the Purity of Silver Evaluated in Kanpur?


While investing in silver, it is important to check its purity. As gold’s purity is measured in the form of Karate, silver’s purity is measured in terms of fineness. Fine or pure silver has the fineness of 999. However, this silver cannot be used for ornaments as it will become too soft. 


To make silver ornaments, sterling silver is most commonly used, with a fineness of 925, that is, 92.5% silver and the remaining 7.5% is generally copper.


Further, at the time of buying silver, it is always necessary to look for the BIS Mark, a triangular symbol with a dot inside the triangle – which is the logo of the Bureau of Indian Standards. Further, esteemed jewellers will also have their mark affixed on the silver, guaranteeing its purity.

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

How to Buy Silver in Kanpur?


If you intend to buy silver in the form of coins, you can approach your Banks or esteemed Jewellers, who will not only give you the coins but also give you the certificate of its authenticity. In Kanpur, people also buy various silver ornaments, and for that, they will have to go to their jewellers. For Jewellery, you will have to pay extra by making charges, etc.
Silver Bars which come in the weight of 1 Kilogram, are also often bought by people in Kanpur who intend to invest in this precious commodity. To buy silver as a bar, you will have to approach reputed and trusted bullion traders, as it is important to ensure its purity and fineness.


Silver as an investment in Kanpur


Futures exchange: Investors can purchase silver on the futures exchange market. However, the contract amounts are much more significant than some other commodities, such as gold.
An agreement to buy or sell silver at a specific price at a later time is known as a futures contract. Due to the silver price's extreme volatility, this type of investment carries a very high risk.
Nevertheless, purchasing a futures contract might be a smart move to make money if you think the price of silver will increase in the future. Trading on the futures market is also subject to some fees, such as brokerage, stamp duty and other expenses.


Silver ETF: The Silver ETF invests in silver and silver-related instruments as its underlying assets. ETF portfolios invest up to 95% of their assets in physical silver, which is typically stored in vaults or traded as commodities derivatives on exchanges.


Silver coins: The practice of giving silver coins as gifts during auspicious occasions are very common in Thanjavur. Since silver coins come in a variety of weights, investors have the option to select one that fits their budget. This makes silver coins an excellent investment decision. Numerous banks and jewellers provide certified silver coins for sale. Along with your silver purchase, be sure to get a purity certificate.


Digital Silver on National Spot Exchange: Digital silver, or e-silver, is one of the innovations of the National Spot Exchange, which enables investors to buy little chunks of silver and hold them in a Demat account.


Members of National spot exchange limited or franchises can purchase them on the national spot exchange trading platform. Before investing, any prospective client must open a depositary account with one of these members. You can also invest in physical silver with National Spot Exchange Limited.

Trend of Silver rates in Kanpur

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

Paper Silver vs Physical Silver


A traditional way to hold silver is in its physical form. However, in these modern times, where everything is going electronic, precious metals like silvers are no exception.
Paper silver is not the actual silver, but it is a derivative form. It may be in the form of Exchange Traded Funds or future contracts. One can buy e-silver on various exchanges like National Spot Exchange (NSEL), Multi Commodity Exchange (MCX), and National Commodity and Derivatives Exchange (NCDEX). Further, e-silver can be traded and converted into physical silver or cash.


Impact of GST on Silver Rate in Kanpur
 

Silver rate in Kanpur is also affected by Goods and Services Tax (GST). At present, a GST of 3% is levied on Silver. So, it is added to the basic price, and for the end user, it will increase the cost of silver to the extent of GST.

FAQs of Silver price in Kanpur

Does the rate of silver change frequently in Kanpur?

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What determines the silver rate in Kanpur?

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In which forms can I invest in Silver?

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