Silver rate in Sikar
silver rate in sikar

1gm:
74.20
0.00(0.00%)
1kg:
74,200.00
0(0.00%)

Last updated on: 29th Jan 2023 10:00 AM

Sikar is a city in Rajasthan with great historical significance. The district of Sikar is famous for wood carvings that often use precious metals such as silver. With multiple uses of silver in Sikar for both personal and industrial purposes, silver is increasingly considered a lucrative investment option.

The demand for silver remains the same throughout the year except during the festive and wedding seasons. During the festival season, the largest silver purchases in Sikar occur during the wedding season and the festivals of Gangaur and Dhanteras. Apart from personal or household use, silver is also used as a mode of investment. People in Sikar invest in both types of silver, i.e., physical and paper silver.

Silver rates as per grams in Sikar

GramYesterdayToday
1gm
74.20
0.00 (0.00%)
74.20
0.00 (0.00%)
8gm
593.60
0.00 (0.00%)
593.60
0.00 (0.00%)
10gm
742.00
0.00 (0.00%)
742.00
0.00 (0.00%)
100gm
7,420.00
0.00 (0.00%)
7,420.00
0.00 (0.00%)
1kg
74,200.00
0.00 (0.00%)
74,200.00
0.00 (0.00%)

Comparison Between Gold and Silver in Sikar

In most places, when it comes to both purchases and investments, the demand for gold is higher than the demand for silver. This is because gold is higher in value. However, silver also has various applications, from household decor to utensils and even industrial applications. Compared to gold, silver is more affordable. But its affordability should not downplay the handsome returns when sold at a later date.

Silver vs Other Investment Options in Sikar

Typically, investment in silver is divided into two broad categories: physical silver and paper silver. Physical silver includes coins, bars, jewellery, ornaments or bullion. Paper silver includes various silver investment options such as:

Silver ETFs: Exchange Traded Funds (ETFs) are investments in physical silver assets. ETFs allow higher liquidity than holding the metal physically and are easier to trade.

Silver Futures: These are standard, exchange-traded contracts in which you agree to buy silver in a certain quantity at a later date. Futures investments are based on speculation and involve certain risks.

Digital Silver on National Spot Exchange (NSE): The NSE has launched a digital or e-silver platform in which you can invest digitally by registering on the trading platform. You can hold your purchases made from the platform in a Demat account.

Historical silver rates in Sikar in last 10 days

1 gram
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Day Silver
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%)
25 Jan 2023
74.00
0.00 (0.00%)
24 Jan 2023
74.00
-0.70 (-0.93%)
23 Jan 2023
74.70
0.40 (0.54%)
22 Jan 2023
74.30
0.00 (0.00%)
21 Jan 2023
74.30
-0.20 (-0.26%)

Factors Affecting Prices of Silver in Sikar  

Many investors hold silver and the price of silver in Sikar largely depends on the international market. Various factors affect silver prices in Sikar and most of these factors are independent of local influence.

Some of these factors include:

Demand and Supply: From ornaments to industrial purposes, silver finds its use in many places. As domestic production is not enough to meet these demands, this demand and supply gap affects silver prices in Sikar.

Geopolitical Scenario: As the transportation of silver takes place by the sea, the price of silver is often impacted by geopolitical situations. For example, a conflict in or around the specific sea route taken to transport silver will impact the price of the metal.

Exchange Rate of Indian Rupees Against the US Dollar: Silver prices are directly proportional to the exchange rate of the US Dollar. In 2022, the value of the Indian Rupee fell considerably against the US Dollar. Due to this, the silver prices in Sikar were impacted during that period.  

Gold Prices: Traditionally, silver prices follow gold prices. Most investors are of the opinion that gold prices are the primary driver for silver prices. While the gold-silver ratio is debatable, whenever gold prices go up, silver follows the trend. 

Inflation: As per financial experts, gold and silver are two investments that perform well against inflation. While the value of paper currency erodes due to inflation, silver protects against such decreased purchasing power.

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

How is the Purity of Silver Evaluated in Sikar?

In Sikar, the purity of the silver is measured in millesimal fineness or parts per thousand. The purest form of silver that you can find in Sikar is .999. This type of silver contains 999 parts of silver and 1 part of other metal. Other than this, you can also find Britannia and Sterling silver with a purity of 95.8% and 92.5%, respectively.

Trend of Silver rates in Sikar

1 gram
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Day Silver
01 January 20230
30 January 202374.2
Highest75.8
Lowest73.5

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

The policies of the Reserve Bank of India and the Government of India impact silver prices in Sikar. For example, if the Reserve Bank of India (RBI) decides to increase the interest rates, the price of silver will also increase.

Before the implementation of Goods and Service Tax (GST), there was a 1% excise duty and 1% Value Added Tax (VAT) levied. Post GST, there is a flat 3% tax on all silver purchases.

FAQs of Silver price in Sikar

Is silver a good investment option? 

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Will silver ever lose its value?

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What should I keep in mind when buying silver? 

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What are some specific ways I can check the purity of silver?

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