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In Bihar, silver holds significant importance culturally and economically. It symbolises wealth and prosperity and is often given as a gift during auspicious occasions. Owing to its versatile use, the metal plays a crucial role in the state's various industries. As an investment avenue, silver acts as a tangible asset and a hedge against inflation, attracting both individuals and businesses. Prior to investing in silver or purchasing it, make sure to check the latest price of the metal in the state to make wise monetary decisions.

Silver Price in Bihar

The price of silver in Bihar today is as follows:

Weight

Silver Rate Today 

Silver Rate Yesterday

Price Difference

1 g

₹77.00

₹77.30

-₹0.30

10 g

₹770

₹773

-₹3

100 g

₹7,700

₹7,730

-₹30

1 kg

₹77,000

₹77,300

-₹300

*Disclaimer: The rates mentioned above are subject to change as per market conditions

Silver Rate in Bihar in the Last 10 Days

The following table provides insights into the changes in the latest sliver rate trends in Bihar:

Date

1 g

10 g

100 g

1 kg

Mar 18, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 17, 2024

₹77.30

₹773.00

₹7,730.00

₹77,300.00

Mar 16, 2024

₹77.30

₹773.00

₹7,730.00

₹77,300.00

Mar 15, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 14, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 13, 2024

₹75.20

₹752.00

₹7,520.00

₹75,200.00

Mar 12, 2024

₹76.10

₹761.00

₹7,610.00

₹76,100.00

Mar 11, 2024

₹75.60

₹756.00

₹7,560.00

₹75,600.00

Mar 10, 2024

₹75.70

₹757.00

₹7,570.00

₹75,700.00

Mar 09, 2024

₹75.70

₹757.00

₹7,570.00

₹75,700.00

*Disclaimer: The aforementioned rates are subject to change as per market conditions.

Factors that Affect Silver Rates in Bihar

Here are some key factors to consider, which can impact the price of silver in the state:

  • Market shifts, influenced by global and local factors, determine silver prices in Bihar

  • Supply and demand forces, coupled with inflation rates, impact silver rates

  • A robust dollar raises silver prices, while depreciation results in a dip

  • RBI policies on silver transactions and monetary adjustments shape Bihar's silver rates

  • A spike in inflation rates can boost the demand for silver, leading to an increase in its prices  

  • A decline in interest rates can boost silver demand, resulting in price hikes

  • Taxation changes, including GST, contribute to the change in silver prices in Bihar

FAQs

How to check the purity when buying silver in Bihar?

To check the purity of silver purchased in Bihar, follow these steps:

  • Hallmarks and Stamps: Look for hallmarks or stamps on the silver item. These may indicate the purity level, often expressed in terms of fineness (e.g., 999 for pure silver).

  • BIS Certification: Ensure that the silver product has been certified by the Bureau of Indian Standards (BIS). BIS certification guarantees adherence to quality standards.

  • Weighing and Testing: Use a precision scale to measure the weight of the silver. Compare the weight with the specified weight, as indicated by the seller. 

  • Magnet Test: Silver is not magnetic. Use a magnet to check if the silver item is attracted to it. Also, consider professional testing methods like an acid test or electronic tester for more accurate results.

  • Professional Assessment: Consult a reputable jeweller, who can professionally assess the purity of the silver through various testing methods

Are there any taxes or additional charges applicable to silver purchases in Bihar?

Yes, you are required to pay a 3% GST on every silver item purchased in Bihar. Furthermore, you may also be asked to pay making charges as applicable in the state at the time of purchase.

Are there any local festivals or events in Bihar that impact the silver rate?

Yes, usually during festivities like Chhath Pooja and Makar Sankranti the local demand for silver tends to increase in the state. This results in a rise in the silver rates in Bihar.

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