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Silver Rate Today in Solapur
silver rate in Solapur

10gm:
₹751.20
+0.47(0.00%)
1kg:
₹75,120.00
+470(0.00%)

Last updated on: 28th Mar 2024

The city of Solapur is located in Maharashtra, close to the border with Karnataka. It has a rich history and was ruled by many dynasties over time. This makes Solapur a land of many cultures.

Moreover, there's one key factor that remained constant throughout the history of Solapur. It is their love for gold and silver. As of 2023, silver is considered one of the most popular precious metals in Solapur. Whereas gold is considered more of a household favourite, silver holds more value across various industries like automobile and the photovoltaic industry. Read on to learn more about factors affecting silver rates in Solapur and how you can make your investment grow steadily.

Silver Rate Comparison

How To Buy Silver In Solapur?

In Solapur, you may buy silver in two forms - paper silver or physical silver. In this, physical silver is a tangible asset and gives you ownership of the metal.

In contrast, paper silver comprises securities and derivates not backed by physical silver. As indicated by its name, paper silver exists virtually in the digital space. To invest in paper silver you must have a Demat account linked with your bank account. Then you can use any of the suitable online platforms to invest in silver bonds, ETFs, mutual funds, and other online securities.

There are various ways by which you can purchase physical silver in Solapur. You can get it from jewellery suppliers, manufacturers, producers, or wholesalers. You can choose from several options depending on the utility and quantity of silver to be purchased. For example, if you want to buy silver coins, visit a reputed jeweller.  

Silver rates as per grams in Solapur

GramYesterdayToday
1 gram
₹74.65
+0.07 (0.09%)
₹75.12
+0.47 (0.63%)
8 grams
₹597.20
+0.56 (0.09%)
₹600.96
+3.76 (0.63%)
10 grams
₹746.50
+0.70 (0.09%)
₹751.20
+4.70 (0.63%)
100 grams
₹7,465.00
+7 (0.09%)
₹7,512.00
+47 (0.63%)
1kg
₹74,650.00
+70 (0.09%)
₹75,120.00
+470 (0.63%)

Impact Of GST On Silver Rate In Solapur

Good and Services Tax or GST as it is commonly known applies to silver at two stages:

  1. When supplying the metal
  2. When manufacturing ornaments from silver

The following are the GST rates for silver in Solapur:

  • Making charges: 5%
  • Import duty: 10%
  • GST Rate on value: 3%

Historical Silver Rate in Solapur for Last 10 Days

10 grams
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Day Silver
28 Mar 2024
₹751.20
+4.70 (0.00%)
27 Mar 2024
₹746.50
+0.70 (0.00%)
26 Mar 2024
₹745.80
-2.80 (0.00%)
25 Mar 2024
₹748.60
-0.80 (0.00%)
22 Mar 2024
₹749.40
-0.50 (0.00%)
21 Mar 2024
₹749.90
-3.50 (0.00%)
20 Mar 2024
₹753.40
+0.40 (0.00%)
19 Mar 2024
₹753.00
-2.40 (0.00%)
18 Mar 2024
₹755.40
-0.70 (0.00%)
15 Mar 2024
₹756.10
+4 (0.00%)
Day Silver
28 Mar 2024
₹751.20
+4.70 (0.00%)
27 Mar 2024
₹746.50
+0.70 (0.00%)
26 Mar 2024
₹745.80
-2.80 (0.00%)
25 Mar 2024
₹748.60
-0.80 (0.00%)
22 Mar 2024
₹749.40
-0.50 (0.00%)
21 Mar 2024
₹749.90
-3.50 (0.00%)
20 Mar 2024
₹753.40
+0.40 (0.00%)
19 Mar 2024
₹753.00
-2.40 (0.00%)
18 Mar 2024
₹755.40
-0.70 (0.00%)
15 Mar 2024
₹756.10
+4 (0.00%)
Day Silver
28 Mar 2024
₹751.20
+4.70 (0.00%)
27 Mar 2024
₹746.50
+0.70 (0.00%)
26 Mar 2024
₹745.80
-2.80 (0.00%)
25 Mar 2024
₹748.60
-0.80 (0.00%)
22 Mar 2024
₹749.40
-0.50 (0.00%)
21 Mar 2024
₹749.90
-3.50 (0.00%)
20 Mar 2024
₹753.40
+0.40 (0.00%)
19 Mar 2024
₹753.00
-2.40 (0.00%)
18 Mar 2024
₹755.40
-0.70 (0.00%)
15 Mar 2024
₹756.10
+4 (0.00%)
Day Silver
28 Mar 2024
₹751.20
+4.70 (0.00%)
27 Mar 2024
₹746.50
+0.70 (0.00%)
26 Mar 2024
₹745.80
-2.80 (0.00%)
25 Mar 2024
₹748.60
-0.80 (0.00%)
22 Mar 2024
₹749.40
-0.50 (0.00%)
21 Mar 2024
₹749.90
-3.50 (0.00%)
20 Mar 2024
₹753.40
+0.40 (0.00%)
19 Mar 2024
₹753.00
-2.40 (0.00%)
18 Mar 2024
₹755.40
-0.70 (0.00%)
15 Mar 2024
₹756.10
+4 (0.00%)
Day Silver
28 Mar 2024
₹751.20
+4.70 (0.00%)
27 Mar 2024
₹746.50
+0.70 (0.00%)
26 Mar 2024
₹745.80
-2.80 (0.00%)
25 Mar 2024
₹748.60
-0.80 (0.00%)
22 Mar 2024
₹749.40
-0.50 (0.00%)
21 Mar 2024
₹749.90
-3.50 (0.00%)
20 Mar 2024
₹753.40
+0.40 (0.00%)
19 Mar 2024
₹753.00
-2.40 (0.00%)
18 Mar 2024
₹755.40
-0.70 (0.00%)
15 Mar 2024
₹756.10
+4 (0.00%)

Things to Remember Before Buying Silver Jewellery in Solapur?

When buying silver jewelry in Solapur, 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.

How Is The Purity Of Silver Evaluated In Solapur?

There are a bunch of ways to identify how pure silver is. The most common method is to check for hallmarking.

Silver producers stamp them with the numbers 800, 900, 925, 958, or 999. These indicate the level of purity. For example, 900 indicated there is 90% silver. 999 indicates a purity level of 99.9%. If you're wondering, this stamp is embedded into the metal.

Just to be absolutely sure, professionals also sometimes conduct various tests. These might include the ice, ping, acid, or magnet tests.

Let's take a look at each of them:

  • Ice test: In this, professionals place the silver on top of an ice bed. The ice begins to melt quickly as compared to other metals. If this happens, it indicates that the silver is pure and authentic.
  • Ping test: Silver is a high-pitched metal. By striking it next with any other metal, it produces a pitch measuring 6145 Hz. Professionals also use this to validate the purity of the silver. The higher the pitch, the greater the purity of the silver.
  • Magnet test: Pure silver is not susceptible to magnetization. Therefore, by placing it over a magnetic metal, you can test whether the silver's core is magnetic. Silver should not be strongly attracted to magnetic metal.
  • Acid test: This test should be avoided for high-value silver as it uses a corrosive substance to test purity. Professionals use silver acid test kits to conduct this test.

FAQs of Silver Rate in Solapur

What factors affect the silver price in Solapur?

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Some of the factors affecting the rate of silver in Solapur are:

  • Strength of the US dollar
  • The demand and supply dynamics of silver
  • Government regulations and policies relating to silver

Will the price of silver increase in the next 10 years?

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Will silver rates be affected by a recession?

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Is there a limit to buying silver in Solapur?

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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.