Silver rate in Ratlam
silver rate in ratlam

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

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

Ratlam is situated in the northwestern part of the Malwa region in Madhya Pradesh and is historically known as Ratnapuri. Ratlam was one of the first commercial cities to be founded in Central India. The city is renowned for its love of food, particularly the flavour of the trendy salty snack known as "Ratlami Sev."

The demand for silver in Ratlam is also gaining popularity owing to the established popularity of pure precious metals and the jewellers catering to the demand. Silver, a precious metal, is gaining prevalence in Ratlam as a gifting item on auspicious occasions. Several jewellers and banks in the city sell pure silver but before looking for a suitable seller, check the current silver prices.

Silver rates as per grams in Ratlam

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%)

Factors influencing the prices of silver in Ratlam

Silver has unique characteristics and uses ranging from ornamental to industrial. People generally purchase silver jewellery and silverware, especially on special occasions. At the same time, silver is indispensable to many manufacturing processes, making it a valuable industrial raw material. The factors that can affect silver prices are as follows:

Supply and demand: This fundamental economic concept determines the silver rate in Ratlam. Prices change based on factors such as resource scarcity, occasion, mining, market supply, and buyers' interest.

National events and announcements: National events such as the Reserve Bank of India's (RBI) interest rates, monetary policy, budget, political events, and so on tend to affect silver rates.

Trade policies of the government: Based on the geopolitical situations, the government changes the trade policies between other nations to regulate the material flow, thereby affecting the silver prices.

Inflation: Silver, a precious metal, is often considered a safe investment in inflation. When inflation is high, people turn towards silver and which affects its rate as the demand is high.

Gold Prices: Whenever the value of gold increases or decreases, it is a general tendency that the silver rates will follow. 

Historical silver rates in Ratlam 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%)

Comparison of Gold and Silver in Ratlam

Over the years, precious metals such as gold and silver have gained importance among retail investors. Both metals are significantly used in ornamental as well as industrial purposes. The scarcity and rarity of silver and gold make them exciting investment options in Ratlam.

When you compare, silver is more affordable in Ratlam. However, the value of gold is higher. The gold-to-silver ratio as of 2022 is much higher than in the last few years. Therefore, you can purchase more silver at the same rate as gold in Ratlam.

Impact of GST on silver in Ratlam

The GST Council has implemented a 3% on precious metals, including silver. Furthermore, there is a 5% GST on making charges. Furthermore, the import duty on silver is 12.5%. Therefore, all these facts add up to the final rate. There is a significant difference in the market rate and the total price after taxes, but that has had no impact on the demand for silver in market.

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

Silver Investment Options in Ratlam

Here are the various silver investment options in Ratlam:

E-Silver: It is an instrument developed by the National Spot Exchange (NSEL) that lets you invest in silver in smaller quantities of 100 grammes and multiples in a Demat format. This allows you to hold the silver like an equity stock without holding it in physical form.

Silver Bullion: A "bullion" is a precious metal like gold and silver that is 99.9% pure and is in the form of coins, bars, or ingots.

Silver ETF: Silver today can be purchased through exchange-traded funds, investment instruments that work similarly to mutual funds. Silver ETF follows the prices of actual silver on the stock market.

Silver mining stocks: Some companies mine silver and are listed on the stock market, where you can invest. Thorough research must be conducted before purchasing these stocks.

Silver Futures: You also have the option to buy silver through future contracts in which you purchase silver at a fixed certain price at a date in future. If the current price of silver increases and reaches your anticipated price, you will bear a profit. 

Trend of Silver rates in Ratlam

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

Evaluating the purity of silver in Ratlam

Hallmarking is the best way to determine the purity of the silver. It includes some critical signs such as:

Hallmark: It determines the purity of precious metals. The hallmarking scheme has been launched by the BIS (Bureau of Indian Standards) to ensure metals are pure and fine.

HUID: Hallmark Unique Identification, or HUID, is a six-digit alphanumeric number unique for every piece of jewellery produced.

Purity Level: Hallmarked silver also has a stamp specifying the purity level of the metal. 

FAQs of Silver price in Ratlam

Why is there such a disparity in silver prices across India?

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Where can I buy  silver bullion in Ratlam?

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What increases the demand for silver?

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How do jewellers calculate silver prices in Ratlam?

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