Silver rate in Mandsaur
silver rate in mandsaur

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

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

Mandsaur is a city in Madhya Pradesh located on the Mewar-Malwa border. The town is well known for its cultural heritage and architecture. The city witnesses high silver demand throughout the year, but there is a noticeable hike in demand during the wedding and festive seasons.

Silver rates as per grams in Mandsaur

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%)

Options to Invest in Silver in Mandsaur

Silver is an essential metal in the financial world. Affordability is the foremost advantage of investing in silver. You can invest in silver and earn good returns over time. Most silver purchases in the city are mainly for gifting and religious purposes. Broadly, investment options can be divided into the following categories.

Jewellery and household items: Buying silver jewellery or items for the house, such as prayer lamps, utensils etc., is common in Mandsaur. As silver tends to be cheaper than gold and the price of metals tends to rise with time, buying physical metal can get expensive when you factor in storage costs along with other factors like melting charges and maintenance charges.

Coins and bars: Silver coins are an excellent option for investors and collectors. They make for a decent investment choice since silver is available in weights of several scales, allowing you to freely decide as per your budget. Several jewellers sell certified and assayed silver coins. Silver bullion bars have also become popular among investors over the years. These can be purchased from banks and prominent jewellers.

Silver exchange-traded funds (ETFs): Buying Silver ETFs is an excellent option if you wish to invest in precious metals. These ETFs are great for investors who want to diversify their portfolios and hedge against inflation. They are backed by physical silver and can be purchased and sold on the stock markets using a Demat account.

Mining Stocks: Buying mining stocks is another way to invest in silver. Mining companies depend on several factors such as the silver price, the production cost, and political stability. If a company is doing well, its stock price can go up significantly. The opportunity if used well, can make a large profit.

Digital Silver: The new player in the market was introduced by the National Spot Exchange (NSE). Digital silver lets you put your money in smaller chunks and hold your purchase in an electronic form. They are available for purchase on the NSE trading platform.

Historical silver rates in Mandsaur 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%)

Factors that Affect Silver Prices in Mandsaur

Several factors are to be considered carefully before making investments in silver. First, observe the movements of rates and check the live rate if the fluctuations appear extreme. Let us have a look at the factors that majorly impact the price of silver in Mandsaur.

  • Substantial Demand: Silver prices in Mandsaur are affected by a rise in the demand for this metal in the market. Some reasons for the high demand are the city's heritage, its old religious traditions and popular culture, and various manufacturing activities based on silver, such as jewellery, cutlery and electrical equipment. Moreover, ​​the government's scheme of encouraging the use of silver for new industries, such as solar energy, has led to substantial demand.

 

  • Import Costs: Due to the lack of natural silver deposits, Mandsaur makes up for its market demand majorly through imports. This means that import rates affect the silver price within the country. Buying silver in Mandsaur is more expensive due to the strengthening nature and financial trades occurring in US dollars. 

 

  • Inflation: People buy gold and silver as a hedge against inflation. When there is economic uncertainty, people buy more silver since it has a proven history of providing good long-term returns. Thus, during inflation, the demand for silver rises.

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

How to Check the Purity of Silver in Mandsaur?

In 2005, the Bureau of Indian Standards (BIS) introduced hallmarking for silver. Silver is available in several purity levels, with the maximum fineness being 999. Silver and silver alloys are stamped with standard marks by the BIS. According to the BIS, the following factors should be ideally considered when buying silver -

BIS Mark

The BIS logo on silver guarantees purity and originality. It ensures that the metal has been tested and follows the standards set by the BIS.

Research the Rates

Silver rates constantly rise and fall due to the metal's value in the market, so you should monitor silver rates before buying. Silver prices are a good barometer of future events and a country's economic health.

Decide the Form of Investment

If you are searching for long-term investment, silver bars or coins could be an excellent choice. If you are buying silver for auspicious occasions, you can purchase jewellery, ornaments or silverware. If your purpose is purely an investment and you want to prevent the hassle of keeping physical silver safe, you should look into purchasing ETFs, digital silver or futures contracts. 

Trend of Silver rates in Mandsaur

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 Mandsaur?

When buying silver jewelry in Mandsaur, 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 Mandsaur

How does GST impact silver rates in Mandsaur?

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How can I check the purity of silver?

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What hallmarks should be present on my silver article?

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What are the various silver purity levels available in Mandsaur?

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