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Silver investments are a great way to invest additional funds, while ensuring liquidity and wealth generation in the long run. Moreover, investing in silver is cheaper than gold.

 

In addition, the silver price in Aurangabad and other areas has risen over the past few years and continues to do so. This presents a great opportunity to enter the market today and secure better returns in the future. 

 

However, given the price volatility, you must know the silver rate today in Aurangabad before investing. You also need to know the factors that affect the prices, as it helps you buy when the prices are at the lowest and sell when they are high. 

 

Read on to know today’s silver rate in Aurangabad and the factors that impact the price of the precious metal. 

Silver Price Per Gram in Aurangabad

Given below is an overview of the silver rate today in Aurangabad:

Quantity of Silver (in grams)

Silver Price in Aurangabad

1

₹78.6

10

₹786

100

₹7,860

1000 (1 kg)

₹78,600

Disclaimer: The above silver rate in Aurangabad is as of May 22 2023, and is subject to change.

Silver Rate in Aurangabad for the Last 10 Days

In the last 10 days, the silver rate in Aurangabad has witnessed changes in small margins. For your reference, here is today's silver rate in Aurangabad and for the last ten days.

Date

1 Gram Silver Price in Aurangabad

10 Grams Silver Price in Aurangabad

100 Grams Silver Price in Aurangabad

1 KG Silver Price in Aurangabad

22-05-2023

₹78.60

₹786.00

₹7,860.00

₹78,600.00

21-05-2023

₹79.00

₹790.00

₹7,900.00

₹79,000.00

20-05-2023

₹79.00

₹790.00

₹7,900.00

₹79,000.00

19-05-2023

₹78.00

₹780.00

₹7,800.00

₹78,000.00

18-05-2023

₹78.10

₹781.00

₹7,810.00

₹78,100.00

17-05-2023

₹78.20

₹782.00

₹7,820.00

₹78,200.00

16-05-2023

₹78.80

₹788.00

₹7,880.00

₹78,800.00

15-05-2023

₹78.50

₹785.00

₹7,850.00

₹78,500.00

14-05-2023

₹78.50

₹785.00

₹7,850.00

₹78,500.00

13-05-2023

₹78.50

₹785.00

₹7,850.00

₹78,500.00

Disclaimer: The above silver rate in Aurangabad is as of May 2023.  

Factors Impacting Silver Rates in Aurangabad

The silver price today in Aurangabad and other cities depends on many factors, including demand and supply and government policies. Here are some of the leading factors that impact the price of silver in your city. 

  • Gap in Demand and Supply

When the balance between demand and supply gets skewed, the price of a commodity changes. Generally, when demand surpasses supply, the price increases and vice-versa. Given this, it is a leading cause for change in the silver rate in Aurangabad and other cities. 

 

A reason for the fluctuation in the price of silver is that it has a finite supply. Limited availability leads to the demand not being met. You can see the effect when the need for silver and silver products increases; the prices also increase. 

 

Similarly, the price falls when the supply of raw silver and silver products surpasses the demand. You can also observe this trend in many other commodities, so demand and supply balance needs to be maintained.

  • Government Policies and Geopolitics

The prices of commodities are primarily controlled by government and market trends. So there are a number of government policies that affect today’s silver rate in Aurangabad. Goods and services taxes and import duty are the top ways government policy can impact your silver price.

 

To give an example, in the Budget for 2023, the Central Government increased the customs duty on silver from 7.5% to 10%. This led to an increase in the MRP of silver since the price of raw material also increased. 

 

In some instances, political conditions can also trigger fluctuations in silver prices. For example, during the Russia-Ukraine war, investors started to move around their funds. This followed big changes in the value of precious metals.  

  • Dollar Strength 

Since silver has USD as the base currency, the position of dollars in the global market plays a significant role in the fluctuation of the rate of silver. Silver maintains an inverse relationship with the value of dollars. 

 

This means that as the rate of the dollar gets stronger, the price of silver drops because purchasing silver becomes expensive. As opposed to that, when the dollar becomes weaker, silver’s value appreciates because it becomes cheaper.

 

Therefore, you need to track and observe the dollar value to estimate the fluctuation in the silver price in Aurangabad or other cities. This can help you protect the value of your investment and make the most of it.

  • Rate of Inflation 

During inflation as all things become costlier, silver also gets affected. However, this is good news for investors with deposits in silver products because the value of the metal moves with the change in the value of the currency. 

 

Given this, silver is an excellent hedge against inflation. As the value of money drops, silver becomes a permeable currency because it holds its purchasing power. This makes it a more attractive option, and therefore the silver rate in Aurangabad and other areas sees a rise.

  • Gold Prices and Mining Costs

The value of gold is comparatively more than that of silver, making it preferable over white metal. However, since both are precious metals and serve the same purpose, factors that affect their price overlap. 

 

Given this, changes in silver prices follow the trend of the gold price. As such, you would notice that when the gold price increases, there is a rise in the silver rate in Aurangabad and other areas.


In addition to this, silver is mined metal and therefore is subject to mining costs. The relation is direct since the mining costs get added to the silver price in Aurangabad and other areas. As such, when mining becomes expensive, silver will too, and vice-versa

Read More

FAQs on Silver Rate in Aurangabad

Yes. The final selling silver price today in Aurangabad and other parts of India includes the import costs.

The best time to buy silver is when it is estimated to be at its lowest price. Given that the silver rate in Aurangabad and other areas is currently seeing an upward trend, you can invest today and make the most of your money.

Yes, you need to pay GST while buying anything in silver. Remember, the tax gets added to your purchase price, so choose a jeweller or seller that offers the best silver rate in Aurangabad.

 

Before buying silver bars, coins, or jewellery, check the purity card, BIS logo and Hallmarking centre's identification mark or number.

 

No, according to the Bureau of Indian Standards (BIS), silver can be sold without a hallmark number or mark. However, buying hallmarked silver is important as it protects you from impure silver purchases. 

 

The silver price in Aurangabad and other areas changes every day, depending on multiple factors. You can estimate the fall or rise in the silver price by comparing the historical rates and assessing the factors that affect the price.

You can invest in silver in many different ways. Buying physical products of silver like coins, jewellery, or bars. Alternatively, you can invest in silver futures, EFTs, and mining stocks. Keep in mind that the silver rate today in Aurangabad will vary depending on the option you choose.

The GST levied on the current silver rate in Aurangabad is 3%. 

 

Sterling silver is considered the best, with 92.5% of silver mixed with other metals. It is important to remember that the silver price in Aurangabad will also change depending on the purity you choose.

 

Silver is used in many uses, from jewellery, cutlery to medicine. Silver is an excellent conductor in high-demand industries like medicine, electronics, etc.

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