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

Silver is a precious metal with a wide range of usability in various industries and households. In India, and the world over, many invest in silver too, mainly because it is cheaper than gold. Nevertheless, it maintains its credibility as an instrument for the instrument. 

 

Silver is always in demand in Karnataka and other parts of the country, so it also has high liquidity. However, there are many variables that cause fluctuation in the rate of silver across India. 

 

Read on to know the current silver price in Karnataka and the last ten days. Further, understand the factors that impact the Karnataka silver rate in Karnataka. 

Silver Price Per Gram in Karnataka

Here is a list of the latest prices of silver for different quantities. 

Quantity of Silver (in grams)

Silver Price in Karnataka 

1

₹ 85.75

10

₹ 857.50

100

₹ 8,575.00

1000 (1 kg)

₹ 85,750.00

Disclaimer: The above silver rate today in Karnataka is as of Apr 20, 2024 and is subject to change.

Silver Rate in Karnataka for the Last 10 Days

Similar to gold, the silver rate changes daily as per the economic changes. An overview of Karnataka’s silver rate today and the last 10 days can help you understand the price trend and invest accordingly. 

 

Here is an overview of the silver price in Karnataka for the last 10 days. 

Date

1 Gram

10 Grams 

100 Grams 

1000 Grams

20-04-2024

₹ 85.75

₹ 857.50

₹ 8,575.00

₹ 85,750.00

19-04-2024

₹ 86.00

₹ 860.00

₹ 8,600.00

₹ 86,000.00

18-04-2024

₹ 86.00

₹ 860.00

₹ 8,600.00

₹ 86,000.00

17-04-2024

₹ 86.50

₹ 865.00

₹ 8,650.00

₹ 86,500.00

16-04-2024

₹ 84.75

₹ 847.50

₹ 8,475.00

₹ 84,750.00

15-04-2024

₹ 84.65

₹ 846.50

₹ 8,465.00

₹ 84,650.00

14-04-2024

₹ 85.50

₹ 855.00

₹ 8,550.00

₹ 85,500.00

13-04-2024

₹ 85.50

₹ 855.00

₹ 8,550.00

₹ 85,50.00

12-04-2024

₹ 86.50

₹ 865.00

₹ 8,650.00

₹ 86,500.00

11-04-2024

₹ 84.50

₹ 845.00

₹ 8,450.00

₹ 84,500.00

Disclaimer: The silver rates in Karnataka mentioned above are as of Apr 20, 2024.

Factors Impacting Silver Rates in Karnataka

When buying or investing in an e-silver, monitoring the latest rates in your city is a crucial step. The silver rates are impacted by many factors, like import, purity of the metal, demand-supply ratio and more. 

Here is a brief overview of the many factors affecting the rate. 

  • Demand and Supply 

The price of precious metals is highly volatile and changes frequently. The balance between the demand and supply ratio is the key determinant of the silver price in Karnataka. When the demand is higher than the supply, the prices hike significantly. 

 

Further, as the prices increase, consumers start hoarding them, causing further increases in demand and prices. Conversely, when the supply of any commodity increases, the prices tend to drop. 

 

This is the same with silver, and during periods when there is excess in the market, you will notice the price dipping. This is usually a good time to invest, and you get more value out of the investment. 

  • Change in Gold Prices

The price of gold is an indicator of the economic conditions of the country. Therefore, when gold prices increase or decrease, silver follows the trend. Thus if you want to predict the change in the silver price in Karnataka, you can observe changes in gold prices over a certain time. 

  • Inflation 

Economic conditions govern the prices of all daily-use products and investments. As per the rate of inflation, all precious metals become more expensive. Moreover, silver is affected by inflation, and it retains its purchasing power. 

 

As such, it is a great way to protect your wealth, but investing during periods of inflation may not be the best idea. However, investing in silver well in advance, either physically or digitally, can protect you against erosion that occurs during inflation.

  • Position Against Dollar

As the value of the Indian currency rises or falls against the US Dollar, the price of silver shows opposing behaviour. This is because silver is imported and is traded in US Dollars. Naturally, if the dollar weakens, the price of silver takes a hit. 

 

Do note that this dip may be short lived as investors will flock to purchase the precious metal during such periods. As such, demand will rise and the price of silver will likely stabilise or even increase, despite the US Dollar depreciating.  

  • Mining and Industrial Demands

When industrial demand for silver increases, mining for the said mental increases to satisfy the demand. If the mining operations are obstructed, the unsatisfied demand can trigger an increase in prices. Therefore these two factors go hand in hand when determining the silver price in Karnataka and other states of the country.

Read More

FAQs on Silver Rate in Karnataka

What is the GST on silver in Karnataka?

GST levied on all precious metals including silver in Karnataka is 3%. 

Are import charges included in the metal's final price in Karnataka?

Yes. Import charges on the metal are one of the factors that determine the final Karnataka silver rate.

Is there an ideal time to buy silver in Karnataka?

The ideal time of buying silver in Karnataka or any other part of the country is when the silver prices are lowest. Therefore it is important to monitor the trends in Karnataka silver rates to predict the correct time for purchase

What silver is considered to be the best one in Karnataka?

Fine silver is considered best for investment purposes since it contains 99.9% silver

What are the options through which I can invest in Silver in Karnataka?

There are many ways you can invest in silver in Karnataka. You can invest in physical jewellery coins or bars to store for investment. You can also invest in silver EFTs and mining stocks. 

Are silver bars worth buying in Bangalore?

Yes. Investment in any form will have similar benefits. Silver bars can be stored easily, however if you want to make a large purchase of silver, ETFs are preferred.

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
Credit Score
active_tab