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The silver price in Odisha depends on many physical, economic and geopolitical factors, which cause it to fluctuate. This white metal forms an important part of many Indian religious ceremonies and traditions. It is also used for crafting jewellery and electronics. 


Moreover, it is a relatively stable investment option that provides a hedge against inflation. So, buying or investing in silver can help mitigate the risk of uncertain market conditions. Before purchasing silver, you must monitor the silver rate in Odisha and decide accordingly.

Silver Price in Odisha

See the table below to understand the silver price in Odisha today and yesterday. 

Weight

Silver Rate Today

Silver Rate Yesterday

Price Difference

1 g

₹76.50

₹77.20

- ₹0.70

10 g

₹765

₹772

- ₹7

100 g

₹7,650

₹7720

- ₹70

1 kg

₹76,500

₹77,200

- ₹700

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

Silver Rate in Odisha in the Last 10 Days

Here is a quick overview of the silver rates in Odisha for the last 10 days. 

Date

1 g

10 g

100 g

1 kg

Feb 22, 2024

₹76.5

₹765

₹7,650

₹76,500

Feb 21, 2024

₹77.2

₹772

₹7,720

₹77,200

Feb 20, 2024

₹77.0

₹770

₹7,700

₹77,000

Feb 19, 2024

₹77.5

₹775

₹7,750

₹77,500

Feb 18, 2024

₹78.0

₹780

₹7,800

₹78,000

Feb 17, 2024

₹78.0

₹780

₹7,800

₹78,000

Feb 16, 2024

₹77.0

₹770

₹7,700

₹77,000

Feb 15, 2024

₹76.0

₹760

₹7,600

₹76,000

Feb 14, 2024

₹75.5

₹755

₹7,550

₹75,500

Feb 13, 2024

₹77.0

₹770

₹7,700

₹77,000

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

 

Factors that Affect Silver Rates in Odisha

Here are some key factors that affect the silver rate in Odisha: 

  • Government policies, such as taxation, GST, transportation laws and international trades

  • Inflation

  • The increase or decrease in the demand-supply ratio

  • Any recent technological boom

  • Position of the dollar in the international market 

  • Price of gold 

  • Purity level of the metal

  • The mining and labour costs, petrol prices, and taxation rates 

FAQs on the Silver Rate in Odisha

Why does silver price fluctuate in Odisha?

Silver is a precious metal with varied domestic and industrial usage in India. Since the price of silver in Odisha depends on demand-supply, inflation and the strength of the dollar, its prices will continue to change periodically. 

What is silver mainly used for?

It is used in making jewellery, electronic devices, mirrors, batteries, silver tableware and much more. Some people also buy silver for investment purposes in the form of coins and bullion. 

Should I pay any GST for buying silver in Odisha?

Yes, you need to pay GST on the purchase of silver in Odisha. The applicable GST is 3%.

What are the various purity levels of silver?

Silver comes in various purity levels, starting with Fine Silver, which is 99.9% pure. This is the highest quality silver, as 100% pure silver is too brittle to mould into any shape. Other varieties of silver include Sterling Silver at 96% and Britannia Silver at a purity level of 95.8%.

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