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Stay informed with the latest silver prices in Madhya Pradesh for smarter investments
Silver holds significant importance in Madhya Pradesh. Before investing in silver, it is crucial to determine the purpose of buying this precious metal and its latest rates. This ensures that your decision is aligned with your requirements and capabilities. Stay abreast with the price of silver in the state to make wise investments and purchases.
Here is a quick overview of silver rates in Madhya Pradesh today:
| Weight | Silver Rate Today | Silver Rate Yesterday | Price Difference |
|---|---|---|---|
1 g |
₹109 |
₹110 |
- ₹1 |
10 g |
₹1,090 |
₹1,100 |
- ₹10 |
100 g |
₹10,900 |
₹11,000 |
- ₹100 |
1 kg |
₹1,09,000 |
₹1,10,000 |
- ₹1,000 |
*Disclaimer: The rates mentioned above are subject to change as per market conditions
The following table provides an overview of the changes in silver rates in Madhya Pradesh over the last few days:
| Date | 1 g | 10 g | 100 g | 1 kg |
|---|---|---|---|---|
May 12, 2025 |
₹ 109 |
₹ 1,090 |
₹ 10,900 |
₹ 1,09,000 |
May 11, 2025 |
₹ 110 |
₹ 1,100 |
₹ 11,000 |
₹ 1,10,000 |
May 10, 2025 |
₹ 110 |
₹ 1,100 |
₹ 11,000 |
₹ 1,10,000 |
*Disclaimer: The aforementioned rates are subject to change as per market conditions.
Here are some important factors that can have a significant impact on silver rates in Madhya Pradesh:
The Bureau of Indian Standards (BIS) has categorised silver grades on the basis of their purity, which affects their prices
Various market forces, including both local and global factors, supply and demand dynamics, and inflation, have an impact on the rates
The strength of the U.S. Dollar can lead to higher silver prices, while its depreciation may cause a decline
RBI policies, monetary adjustments, and geopolitical events play a significant role in shaping the rates of silver
Economic stability leading to reduced demand and low inflation rates may also cause a decrease in silver prices
Declining interest rates resulting in an increase in demand can affect silver prices
Changes in taxation, including GST, can contribute to the volatility of silver prices
3% GST and additional making charges apply on silver purchases in Madhya Pradesh.
Check whether the silver you purchased has a Bureau of Indian Standards (BIS) hallmark which denotes the purchased silver’s purity. Alternatively, you can test it using a magnet as silver is a non-ferrous metal and therefore is not magnetic.
Before buying silver in Madhya Pradesh, consider checking for BIS certification, hallmarks, and purity stamps. Verify the reputation of the seller, assess the current market rates, and ask for a detailed invoice. Additionally, be aware of the current taxation policies.
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