Home>Silver Rates>Silver Rate in Panipat
commodity rates search

Silver Rate Today in Panipat
silver rate in Panipat

10gm:
₹700.00
0(0.00%)
1kg:
₹70,000.00
0(0.00%)

Last updated on: 8th Mar 2023

Panipat is believed to be one of the cities founded by the Pandavas in Mahabharat. It also has historical significance because of the several battles being fought there. Panipat is also known as the city of weavers and textile industry. In a city like Panipat, demand for silver always remains high due to silver's cultural value and extensive industrial use.

Throughout history of the city, gold and silver have been given importance in Panipat because of their value and the ability to offer protection during uncertain times. Both gold and silver are precious metals in high demand during the wedding season and festivals as well. Silver has also been emerging as a notable investment option as it is a diverse usage across industries. Read on to learn more about the silver rates in Panipat and how you can make an investment.

Silver Rate Comparison

Impact of GST on Silver Rates

When you buy silver jewellery, you would have to pay the following, including making charges, which might vary from jeweller to jeweller.

  • 3% GST (Goods and Service Tax)
  • 5% making charges
  • 10% import duty

When you buy silver jewellery, you insist on a detailed bill from the jeweller, with the breakdown of each charge. This will also help you if you want to resell your jewellery.

Silver rates as per grams in Panipat

GramYesterdayToday
1 gram
₹70.00
0 (0.00%)
₹70.00
0 (0.00%)
8 grams
₹560.00
0 (0.00%)
₹560.00
0 (0.00%)
10 grams
₹700.00
0 (0.00%)
₹700.00
0 (0.00%)
100 grams
₹7,000.00
0 (0.00%)
₹7,000.00
0 (0.00%)
1kg
₹70,000.00
0 (0.00%)
₹70,000.00
0 (0.00%)

How is the Purity of Silver Evaluated in Panipat?

The purity of gold is measured in karats. The purity of silver is measured in parts per thousand. Here are the standard fineness denominations of silver:

  • 999: This is 99.9% pure silver
  • 958: It has 95% silver
  • 925: This contains 92.5% silver and is also known as sterling silver
  • 800: This contains 80% silver

Hallmarking silver is not yet mandatory. However, you can get your silver hallmarked. Silver that has been hallmarked as per the Bureau of Indian Standards (BIS) will have the following:

  • BIS logo
  • Purity grade
  • Hallmark centre's identification number(voluntary, not mandatory)
  • Jeweller's identification number

Acid/ Bleach Test

Put a few drops of acid/bleach on the silver material, and if it changes colour, then silver is fake.

Magnet test

Silver is not magnetic by nature, so if a silver item gets attracted to a magnet, then it means it is fake.

Ice-cube test

Put an ice cube on the silver item, and if the ice cube melts faster than usual, then the silver is pure.

Historical Silver Rate in Panipat for Last 10 Days

10 grams
DownArrow
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)

Comparative Analysis of Gold and Silver

Gold and silver have been favourites of households of Panipat for generations. For example, people often buy gold and silver ornaments during the wedding season. During auspicious occasions and religious events, there is an increase in the demand for silver articles, such as holy idols, silver oil lamps, utensils, and more.

A comparison between silver and gold reveals that silver is more practical than gold for regular small investments. Because it is more affordable than gold, it is an ideal choice for gifting. Silver has more industrial usage than gold. Since the industrial demand for silver is higher, the global economy changes the demand for silver more.

Silver as an Investment in Panipat

Both gold and silver are preferred choices for investments. What you choose depends on how you want to invest, how much is your risk appetite, and what are your financial goals. Let's look at how you can invest in silver in Panipat.  

Silver coins and bars

You can buy silver coins and bars easily from your jeweller or banks. Silver coins and bars are the most common ways of investing in silver.  They also have great resale value when bought from verified buyers.

Silver jewellery and artefacts

Besides cultural and emotional value, silver jewellery and artefacts are also great forms of investment. They are classy, easy on your pocket and can be passed on to the next generation. Make sure your silver purchase comes with a valid bill and authenticity certificate.

Silver Stocks

There are companies which are involved in the mining and processing of silver. If you are confident in their stock profiles, you can buy them. They are called silver stocks.

Silver-exchange traded funds

Exchange-traded funds (ETFs) are like mutual funds. They have various portfolios of companies that either invest in physical silver or deal in silver daily. Through these exchange-traded funds, you can invest in future contracts of silver, which means that they will buy or sell commodities in future.

E-Silver

E-silver is an innovation of the National Spot Exchange(NSEL). You can invest in silver through a Demat account. The trading in silver is done from 10 A.M. to 11:30 P.M. E-silver can be liquidated into cash or silver.

FAQs of Silver Rate in Panipat

What is the purest form of silver?

DownArrow

A silver item with "9999" inscribed has 99.9% silver and is considered "fine silver," the best silver for coins, bars and utensils. If you are buying jewellery, look for jewellery with grades from 999-925, as they are ideal for jewellery.

Is silver better than gold for investing?

DownArrow

What should I keep in mind while buying silver?

DownArrow

Is Tibetan silver is same as that pure silver?

DownArrow

Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.