Silver rate in Patiala
silver rate in patiala

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

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

Patiala is one of the most prominent cities in the state of Punjab and is situated in the southeastern part of the state. The city is 50 kilometres from the state's capital and is an important industrial centre in Punjab. Patiala is also a trade and industrial hub and some of its largest industries include manufacturing, weaving, distilling and more. As a result, the demand for silver in Patiala is continuous.

Silver rates as per grams in Patiala

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%)

Some Interesting Facts About Silver

  • Silver can help generate artificial rain, using silver iodide.
  • With the help of the 'Salt and lemon' cleaning method, tarnished silver jewellery can retain its initial shine.
  • In ancient Egypt, silver was valued more than gold.
  • Toothpaste polishes silver rather than cleans it, therefore, use caution. To lightly polish your valuable silver, squeeze a small amount of toothpaste onto a moist microfiber cloth. Wash silver in warm water, pat it dry and use a microfiber cloth to clean it.

Comparison Between Gold and Silver in Patiala

Silver offers people an opportunity to invest in a precious metal that is not as expensive to purchase as gold, but can still provide substantial returns. In times of financial uncertainty, silver, which is regarded as having a low-risk profile, can help reduce financial risk. Silver is widely purchased and its flexibility makes it a desirable investment. 

Historical silver rates in Patiala in last 10 days

1 gram
DownArrow
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%)

Silver vs Other Investment Options in Patiala

Silver, being a precious metal and a commodity, can be a good avenue for investment.

Here are some investments options in Patiala:

Buying Stocks

Silver exchange-traded funds (ETF) are a popular investment option. You can purchase a collection of shares from various companies when you invest in ETFs, and these funds can be bought, sold, or traded on a stock exchange. The advantage of owning silver ETFs is that they may increase in value over time and act as an inflation hedge in an unstable stock market. In general, ETFs have more liquidity than physical metals, and you can avoid rising dealer premiums by using them.

Silver Bullion

Many buyers and enthusiasts may find the concept of possessing silver bullion, a material asset, very profitable. The price of silver bullion is calculated by the valuable metal content rather than a variable spot rate. Hence, you should purchase fine silver with a purity standard of 99.9% for investment purposes.  

Silver Futures

Investing in silver futures and contracts provides investors with a safety shield from inflation. If investors feel that prices are too inflated, they can sell them quite easily. Silver is regarded as a low-risk, safe-haven investment, meaning it typically maintains its value even during periods of market instability.

The silver market is expanding, making it less likely to be significantly impacted during economic downturns while providing several attractive incentives.

Weekly & monthly silver rate in Patiala
1 gram
DownArrow

7 Days
30 Days
3 Months
6 Months

Paper Silver vs Physical Silver

Paper silver is an asset that has the value of silver but is not physically made of silver. Instead, it exists in the form of certificates for silver investments. Holding paper silver is believed to be more beneficial for short-term trading than long-term investments since it allows one to benefit from the value of silver without owning the actual metal. An example of paper silver includes silver certificates, pools, silver futures purchases and most exchange-traded funds (ETFs).

The paper silver market is around 243 times larger than the physical silver market. This is because paper silver does not have to be physically stored in security vaults and lockers. However, physical silver holds significant benefits, such as:

  • It has a physical/tangible worth
  • Its coins and bars are a pure form of the metal
  • It is a physical asset/security
  • It is a holding apart from the financial system
  • It has no credit or cyber-security risk
  • It is a rare and valuable metal

Trend of Silver rates in Patiala

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

Understanding The Demand For Silver In Patiala

Silver is popular in Patiala because there is a constant demand for it. Before investing in silver, understand the current rates in Patiala. As this white metal is becoming a popular investment option, people can now buy silver in paper form without owning the actual metal. So, let's dive in to explore today's silver rates in the city, compare silver to gold and discover ways to evaluate its purity, and more.

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

When you are purchasing silver, consider the Goods and Services Tax (GST) into consideration, which is currently at 3%. This tax will change the total amount of money you will pay to buy silver. 

FAQs of Silver price in Patiala

Can I purchase silver in a bank?

DownArrow

If I want to sell silver, when is the best time to do this?

DownArrow

Will the value of silver increase in the future?

DownArrow

Can I purchase as much silver as I want?

DownArrow