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In Andhra Pradesh, buying silver holds cultural significance and also serves as a prudent investment. Traditional practices, coupled with the metal's industrial applications, have led to a significant surge in silver’s importance in the state. To make an informed purchase, it is crucial to check the latest silver rates in Andhra Pradesh.

Silver Price in Andhra Pradesh

Here is the price of silver in Andhra Pradesh, today:

Weight

Silver Rate Today

Silver Rate Yesterday

Price Difference

1 g

₹78.20

₹77

 ₹1.20

10 g

₹782

₹770

 ₹12

100 g

₹7,820

₹7,700

 ₹120

1 kg

₹78,200

₹77,000

 ₹1,200

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

Silver Rate in Andhra Pradesh in the Last 10 Days

The following table provides an overview of the change in silver rates in Andhra Pradesh over the last 10 days:

Date

1 g

10 g

100 g

1 kg

Mar 5, 2024

₹ 78.20

₹ 782

₹ 7,820

₹ 78,200

Mar 4, 2024

₹ 77.00

₹ 770

₹ 7,700

₹ 77,000

Mar 3, 2024

₹ 77.00

₹ 770

₹ 7,700

₹ 77,000

Mar 2, 2024

₹ 77.00

₹ 770

₹ 7,700

₹ 77,000

Mar 1, 2024

₹ 76.20

₹ 762

₹ 7,620

₹ 76,200

Feb 29, 2024

₹ 75.70

₹ 757

₹ 7,570

₹ 75,700

Feb 28, 2024

₹ 75.50

₹ 755

₹ 7,550

₹ 75,500

Feb 27, 2024

₹ 75.50

₹ 755

₹ 7,550

₹ 75,500

Feb 26, 2024

₹ 76.00

₹ 760

₹ 7,600

₹ 76,000

Feb 25, 2024

₹ 76.40

₹ 764

₹ 7,640

₹ 76,400

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

Factors that Affect Silver Rates in Andhra Pradesh

The categorisation of silver grades by the Bureau of Indian Standards (BIS) influences prices. These are also determined by global and local market dynamics along with fluctuations in supply and demand and inflation rates. Furthermore, the fluctuating value of the U.S. Dollar contributes to the ebb and flow of silver prices. 

 

RBI policies, monetary adjustments, and geopolitical events in Andhra Pradesh also play pivotal roles in the change in silver rates. Economic stability and low inflation rates may lead to a drop in silver prices. In addition to this, revisions in interest rates and alterations in taxation, including GST, also contribute to fluctuations in silver prices in Andhra Pradesh.

FAQs

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

Yes, you will have to pay 3% GST when you buy any silver article in Andhra Pradesh. Furthermore, you may also be required to pay making charges.

How is the silver rate determined in Andhra Pradesh?

The silver price in Andhra Pradesh is determined based on various factors including geopolitical and economic trends, taxation, central bank policies, etc.

What are the best ways to invest in silver in Andhra Pradesh?

You can purchase silver in the form of ingots, coins, and bars, or invest in silver ETFs. Another option is to buy jewellery and antiques.

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