Silver rate in Kolhapur
silver rate in kolhapur

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

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

Kolhapur is an Indian city in the state of Maharashtra that is situated along the banks of the Panchganga River. The city has various famous places that attract many tourists as well as investors interested in silver. The demand for this precious metal remains high throughout the year since silver is used for both personal/household and industrial purposes. During the festive and wedding seasons, one can observe an increase in silver purchases.

Silver rates as per grams in Kolhapur

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%)

Understanding the Demand for Silver in Kolhapur

Silver in Kolhapur is constantly in high demand due to its multiple personal and industrial applications. It can be used to make silverware, intricate jewellery, artefacts and coins. Many Kolhapur consumers buy silver gift articles, especially during the wedding season.

Furthermore, this precious metal has significance in traditional rituals. Silver is also widely used in many industries, including manufacturing, and this increases its demand.

Comparison Between Gold and Silver in Kolhapur

While gold is a popular precious metal that people buy and invest in for its high value, silver is also a valuable investment option. Many investors in Kolhapur prefer silver over gold due to its affordability, which means a higher number of people can purchase silver to use or have as an investment. Its increasing use in various industries is also another reason that people foresee an increase in the use and value of silver.

Historical silver rates in Kolhapur 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%)

Paper Silver vs Physical Silver

There are different ways you can invest in silver. The most common investment options include:

Physical Silver

For most customers, this is one of the easiest methods to invest in silver. You can buy silver in physical forms like coins, bars, jewellery or ornaments. Physical silver is easily available in reputed jewellers and banks in Kolhapur.

Paper Silver

Customers can also invest in paper silver on the Multi Commodity Exchange and National Commodity and Derivative Exchange. However, customers should be familiar with these types of investments and receive guidance from those experienced in the area as it contains investment risk.

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

Silver vs Other Investment Options in Kolhapur

People in Kolhapur have multiple investment options available to them such as mutual funds and fixed deposits. However, investing in silver is also a popular option for many reasons including the fact that it is a safe form of investment. For most customers, this precious metal adds stability to their investment portfolio and helps to diversify their investments. One of the foremost reasons people invest in silver is that it is useful during times of economic crisis and uncertainty as it can be easily sold in exchange for money.

Impact of GST / Central Bank Policies on Silver Rate in Kolhapur

There is a 3% Goods and Services Tax (GST) on all silver purchases. This GST replaces all previous taxes that were levied on silver purchases. When you are calculating the total amount of money you will pay for any silver item, be sure to include the GST so you know the exact amount it costs.

Trend of Silver rates in Kolhapur

1 gram
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Day Silver
01 February 202374.8
05 February 20230
Highest77.3
Lowest74.8

How is the Purity of Silver Evaluated in Kolhapur

The Bureau of Indian Standards (BIS) introduced the concept of hallmarking silver in 2005, which offers customers information on the levels of purity of their silver items. Every authentic silver item is stamped with BIS-recognised standard marks. These are the following marks you should look for to ensure that the silver you are purchasing is pure:  

  • Year of marking
  • Bureau of Indian Standards (BIS) mark
  • Purity and fineness grades
  • The identification mark of the manufacturer

How to Buy Silver in Kolhapur

Before purchasing silver, make sure you check the current silver rate and ensure that it remains around the same amount for a period of a few days. In doing this, you will know that the silver rate is stable. It is also important that you buy silver according to its weight and purity, since this determines its future value.

If you are purchasing physical silver, make sure you do so at a trustworthy and reputed jeweller or bank. If you choose to invest in paper silver, choose a reputed online trader and make sure you receive the guidance you need from people who are experienced in silver investments.

FAQs of Silver price in Kolhapur

Will silver always be in high demand?

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What are some of the reliable places to buy silver in Kolhapur?

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Do I need to keep my bill safe after purchasing silver?

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What is the main difference between physical silver and paper silver?

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