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Silver Rate Today in Udupi
silver rate in Udupi

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

Last updated on: 8th Mar 2023

Udupi is a city located in the Udupi district of the Indian state of Karnataka. With its rich cultural heritage and thriving local economy, the city has long been a hub for gold investment and trade.

In recent years, Udupi has also seen a rise in the popularity of digital gold investment options, such as e-gold and gold ETFs, which allow investors to buy and sell gold with the click of a button. These new investment options have made it easier than ever before to invest in gold and to keep track of your investments.

In conclusion, Udupi is a city with a rich history of gold investment and trade, and it continues to be a popular destination for those looking to invest in this precious metal. Whether you prefer traditional gold products or digital investment options, the city has something to offer to everyone looking to invest in gold.

Silver Rate Comparison

Interesting Facts about Silver

  • Silver has found a modern application beyond traditional jewellery, with industrial sectors driving 56% of the global demand. Silver truly demonstrates its versatility, as it is used in the production of solar power units, chemicals, and even photography.
  • A glittering Olympic gold medal is the ultimate symbol of athletic achievement, but many don't know that deep beneath its shiny surface lies a base made from solid silver.
  • For several decades, silver has been closely associated with healthcare. The unique properties of silver are now increasingly used to diagnose diseases such as tuberculosis.

Silver rates as per grams in Udupi

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%)

Paper Silver vs Physical Silver

Silver has the potential to be an important part of a well-diversified portfolio, and many investors choose to invest in it. Silver has a variety of applications, from currency to jewellery to medical equipment, but arguably its most popular use is as an investment. While there are many ways to invest in silver, the two major forms are paper silver and physical silver.

  • Paper silver refers to derivatives such as futures and exchange-traded funds (ETFs). This form of investment does not involve physically possessing the metal but instead buying shares or derivatives that track the price of silver.
  • Physical silver, on the other hand, involves buying physical silver coins and jewellery. Investing in physical silver has several advantages over paper silver, including tangibility, portability, and more secure investment.

Silver as an Investment in Udupi

Silver is an excellent investment option for those in Udupi looking to set aside some money for their future.

  • Silver has consistently been a safe, long-term choice over the years because it has held its value, despite market fluctuations.
  • Silver offers owners the potential for significant growth, with great benefits when prices rise.
  • Silver also proves to be a wonderful hedge against inflation and currency depreciation - two factors that can reduce purchasing power over time.

Historical Silver Rate in Udupi for Last 10 Days

10 grams
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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%)

Impact of GST on Silver Rate in Udupi

Silver rate used to be determined by the international silver index and its historical trends, while today, it is also dependent on GST rates. Silver prices have increased slightly due to the imposition of new taxes on silver purchases, though not drastically enough to make a large difference in its availability or cost for citizens.

  • Any individual who buys silver is subject to pay a Goods and Services Tax (GST) of 3%.
  • GST on making charges is levied at 5% on the purchase of silver.

Although at higher costs since GST implementation, it is still seen as a precious metal, desirable for its rarity and status.

How is the Purity of Silver Evaluated in Udupi?

The purity of silver is evaluated by a system known as the Hallmarking System. This system lays out certain standards that must be followed for each item made of silver to be deemed legal tender and acceptable by jewellers, as listed below.

  • BIS Mark
  • The fineness of 990,970,925,900,835,800 for silver
  • Hallmarking centre's identification mark/number
  • Jewellers identification mark/number

How to Buy Silver in Udupi?

Silver is a popular investment option in this city, and investors have multiple ways to purchase it.

Physical purchase from shops: The traditional route involves stopping by local jewellery stores or banks to purchase silver jewellery or silver coins

Online Purchase: Alternatively, those looking primarily for investment purposes might try silver futures in the commodity market or exchange-traded funds (ETFs).

Silver prices can be affected by global influences; hence it is important to pay attention to market shifts so that your financial decisions are always informed.

FAQs of Silver Rate in Udupi

Is silver a viable investment option?

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Demand for this precious metal has been soaring in key sectors like renewable energy, healthcare, and manufacturing. However, silver can sometimes prove volatile compared with gold when weighing your investment options. Experts recommend allocating up to 5% of your portfolio towards commodities overall and adjusting that amount depending on individual goals & timelines.

Will silver ever lose its value?

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What factors can impact the resale value of silver jewellery?

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Can I buy silver without paying any tax?

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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.