✓ No Limit on Loan Amounts ✓ Interest Rate Starting @0.74% p.m. ✓ Minimal Documentation Check Eligibility

Investing in precious metals is not uncommon. In fact, it’s a prudent hedge against inflation and a good way to diversify your portfolio. But people prefer gold over silver because of its value. However, considering the increasing silver price in Vadodara, it’s time to consider this investment option.

 

Is silver a good investment? It is cheaper than its yellow cousin, has multiple uses, and the  silver rate today in Vadodara poses an opportunity to make serious gains. However, ensure that your financial goals warrant a silver investment.

 

Read on to learn about the silver price today in Vadodara and the many factors that cause fluctuations in its price.

Silver Price Per Gram in Vadodara

Below is an overview of Vadodara’s silver price for different quantities.

Quantity of silver (in grams)

Silver Price in Vadodara

1

₹ 94.00

10

₹ 940.00

100

₹ 9,400.00

1000 (1 kg)

₹ 94,000.00

Disclaimer: The above is the silver price in Vadodara as of Jun 04, 2024, and is subject to change.

Silver Rate in Vadodara for the Last 10 Days

Below is an overview of Vadodara's silver rate for the last ten days.

Date

1 Gram Silver Price in Vadodara

10-Gram Silver Price in Vadodara

100 Gram Silver Price in Vadodara

1000 Grams (1kg) Silver Price in Vadodara

Jun 04, 2024

₹ 94.00

₹ 940.00

₹ 9,400.00

₹ 94,000.00

Jun 03, 2024

₹ 92.80

₹ 928.00

₹ 9,280.00

₹ 92,800.00

Jun 02, 2024

₹ 93.50

₹ 935.00

₹ 9,350.00

₹ 93,500.00

Jun 01, 2024

₹ 93.50

₹ 935.00

₹ 9,350.00

₹ 93,500.00

May 31, 2024

₹ 95.50

₹ 955.00

₹ 9,550.00

₹ 95,500.00

May 30, 2024

₹ 96.50

₹ 965.00

₹ 9,650.00

₹ 96,500.00

May 29, 2024

₹ 97.70

₹ 977.00

₹ 9,770.00

₹ 97,700.00

May 28, 2024

₹ 96.50

₹ 965.00

₹ 9,650.00

₹ 96,500.00

May 27, 2024

₹ 93.00

₹ 930.00

₹ 9,300.00

₹ 93,000.00

May 26, 2024

₹ 91.50

₹ 915.00

₹ 9,150.00

₹ 91,500.00

Disclaimer: The above prices are as of 04 Jun 2024.  

Factors Impacting Silver Rates in Vadodara

A good investor knows everything they need to know about an asset. So, before you decide to invest in silver, you should know the factors impacting the silver price in Vadodara. This will help you plan and time your investments, ensuring safety and a higher ROI.

  • Changes in Price of Gold

The silver prices in Vadodara are influenced by the movement of gold prices. Both gold and silver are precious metals that remain high in value during economic turbulence. But gold is rarer on earth, making it more expensive than silver.

 

Changes in gold prices affect the prices of all precious metals, including silver. So, when gold prices shoot up or down, the rate of silver in Vadodara will also go up or down, like in every other city in the country.

 

However, increases in gold prices have led people to invest in silver across the country, making it a bankable investment. A helpful tip at this stage is to track the movement of gold prices to predict silver prices. However, remember that this is just one of the many factors that can affect silver prices.

  • Economic Trends

Changes in purchasing power affect the supply and demand of commodities. Whenever demand exceeds supply for a commodity, the price of that commodity increases. There can be many reasons for the increased demand. 

 

Some of which include the good economic growth of a country, which leads to an increase in consumer purchasing power. Another reason could be upcoming festivals. For instance, during Diwali, the demand for gold increases, causing a rise in the price of gold.

 

So, for whatever reason, if the demand for silver increases, so will the silver price today in Vadodara. 

  • Scarce Availability of Silver Deposits

A surplus supply of a commodity usually leads to a drop in its price. However, similar to other natural resources on earth, silver deposits are finite. This causes a drop in its supply while the demand keeps on climbing. 

 

So, in the future, the silver price in Vadodara will increase similarly to everywhere across the globe, which is evident by the increasing price of silver over the past decades.

  • Rise in Inflation

Inflation affects the prices of all commodities, disrupting the economy of a country. As inflation increases, it reduces the purchasing power of the currency, devaluing its value. However, inflation has no effect on commodities like precious metals. 

 

It causes no deviation in the value of precious metals, so investing in silver can help you retain your purchasing power during economic turmoil. The 10-gram silver price in Vadodara today is more than the 10-gram silver price in Vadodara 10 years ago. Why? 

 

Because as inflation increases, the silver rate in Vadodara also increases, maintaining its value over the years and making it a stable investment.

  • Rise and Fall of the US Dollar 

Silver is bought and sold across the globe in US dollars. So, the performance of the dollar affects the silver price in Vadodara and elsewhere. If the dollar is strong, the silver price in Vadodara will increase. However, if the dollar falls, the silver rate in Vadodara will decrease. 

 

According to this phenomenon, investors prefer investing in silver when the dollar is down and trust other investment options during a strong dollar performance.

  • International Relations

Silver is one of the many commodities that are imported to India from other countries. 

The supply of all imported commodities is directly affected by the nature of the relationship India has with its source countries.

  • Changes in the Tax Policy

There are a number of taxes levied on imported commodities. Silver is no different. It is subject to import duty and other state and transport taxes. So, if there’s a change in the tax policy, which is very common at the start of a new fiscal year, then the silver price in Vadodara will also increase.

 

Moreover, every state has its own tax laws, further affecting silver prices. Therefore, the price of 1-gram silver in Vadodara is not the same as that of other cities like Bengaluru, Mumbai, or Kolkata.

  • Performance of Interest-linked Investment Options

When interest rates on interest-linked investments are high, investors drop precious metal investments for investments like FDs, mutual funds, and stocks. This is a proven investment strategy to earn higher returns. 

 

Moreover, such investment options generally perform well when the economy is booming. Conversely, as the economic state deteriorates, interest rates on interest-linked securities drop. However, the value of precious metals remains unaffected. 

 

This increases the demand for precious metals, increasing their value and helping investors sail through the economic crisis without losing the value of their portfolio.

 

So, ensure that you diversify your portfolio, and invest in as many different assets as your risk appetite allows. Keeping all your eggs in one basket can severely devalue your investments, leaving you with little to nothing in returns.

  • Changes in International Crude Oil Prices

Silver is mined from the earth, requiring an expensive extraction, purification, and distribution process that heavily depends on the consumption of crude oil. So, if the price of crude oil goes up internationally, then the cost of mining will also increase.

 

Which will, in turn, increase the silver price in Vadodara and everywhere else. However, if the prices of crude oil go down, then the cost of mining goes down. So, the silver rate in Vadodara will fall as well. 

 

To ensure high returns and stability during market volatility, ensure that you strategize your investments as per your goals. Moreover, while timing the market right can assure high returns in a short time, it also means higher risk. 

 

On the other hand, a steady and long-term investment plan assures higher returns at lower risks.

Read More

FAQs About the Silver Rate in Vadodara

How can I invest in silver in Vadodara?

You can choose to invest in silver in coins, jewellery, silverware, and other forms. You can visit the top jewellers and retailers to get the best silver price in Vadodara.

How often does the silver rate change in Vadodara?

Low-priced investment instruments are more volatile than high-priced investment instruments. Since silver is always cheaper than gold, it undergoes changes in price more often. So, the silver rate in Vadodara can change often. 

 

It can go up or down, depending on a number of factors. So, if you are looking to invest in silver, timing is key. Do your research before you make this investment.

Is the silver rate in Vadodara the same as the silver rate in other cities in India?

No. Silver price is subject to both central and state taxes. So even though the central tax is the same, the state tax differs, causing a change in silver rate across the country.

 

In addition to these taxes, silver prices are also subject to transportation and distribution costs, further causing a difference in silver rate in Vadodara and other Indian cities.

Is investing in silver a good option in Vadodara?

Yes. As an investment instrument that is not affected by market volatility, investing in silver is a good option in Vadodara and across the country. Such a safe investment diversifies your portfolio and protects you from financial crises during market volatility.

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
CIBIL Score
active_tab