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Silver is one of the most in-demand commodities, second to the yellow metals. In fact, in 2022, India imported over 9,000 tonnes of silver, reported to be the highest-ever import recorded since 2015.

 

There are numerous reasons why the demand for precious metals is increasing – uncertain political and economic climate being one of them. However, the rising demand also results in price fluctuations. As such, the silver price today in Rajasthan may increase or decrease depending on several factors. This makes it crucial for you to know the current Rajasthan silver price and the factors that cause the fluctuation.

 

Knowing the rate of silver in Rajasthan and the factors that affect it will allow you to make a profit by buying low and selling high. This way, you can protect your finances and boost your financial growth.

 

Read on to know today’s silver rate in Rajasthan and the factors that impact the fluctuation of silver prices across India.  

Silver Price Per Gram in Rajasthan

Here is a quick overview of the current 1g, 10g, 100g and 1 kg silver prices in Rajasthan.

Quantity of Silver (in grams)

Silver Price in Rajasthan

1 gram

₹ 74.70

10 gram

₹ 747.00

100 gram

₹ 7,470.00

1000(1 Kg)

₹ 74,700.00

Disclaimer: The Rajasthan silver prices mentioned are as of 05 Mar 2024, and are subject to change.

Silver Rate in Rajasthan for the Last 10 Days

Similar to gold, the silver rate changes daily as per the economic changes. An overview of Rajasthan’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 Rajasthan for the last 10 days. 

Date

1 Gram 

10 Grams 

100 Grams 

1000 Grams 

05-03-2024

₹ 74.70

₹ 747.00

₹ 7,470.00

₹ 74,700.00

04-03-2024

₹ 73.60

₹ 736.00

₹ 7,360.00

₹ 73,600.00

03-03-2024

₹ 73.60

₹ 736.00

₹ 7,360.00

₹ 73,600.00

02-03-2024

₹ 75.00

₹ 750.00

₹ 7,500.00

₹ 75,000.00

01-03-2024

₹ 74.50

₹ 745.00

₹ 7,450.00

₹ 74,500.00

29-02-2024

₹ 74.20

₹ 742.00

₹ 7,420.00

₹ 74,200.00

28-02-2024

₹ 73.90

₹ 739.00

₹ 7,390.00

₹ 73,900.00

27-02-2024

₹ 74.00

₹ 740.00

₹ 7,400.00

₹ 74,000.00

26-02-2024

₹ 74.50

₹ 745.00

₹ 7,450.00

₹ 74,500.00

25-02-2024

₹ 74.90

₹ 749.00

₹ 7,490.00

₹ 74,900.00

Disclaimer: The silver rates in Rajasthan mentioned above are as of Mar 05, 2024. 

Factors Impacting Silver Rates in Rajasthan

  • Demand and Supply Gap

When any commodity has high demand and low supply, its prices increase. The silver price today in Rajasthan works the same way; when the volume of silver in circulation is high, the price remains low. 

In contrast, with more demand and less supply, the rate of silver in Rajasthan and other states will drop. Since silver is used in many industries, such as medicine, solar plants, photography instruments and more, so it always remains in demand for production.  

However, silver is a non-renewable resource, and with limited supply, the silver price in Rajasthan and other areas is increasing. In this case, businesses are moving to the existing silver in circulation as recycled silver.

 

Moreover, as the volume of stored and recycled silver also depletes, the silver rate today in Rajasthan and other states of India will increase further. 

  • Inflating Economy

The increasing cost of living and rate of inflation are key factors in determining the silver price in Rajasthan and other states. With inflation, the price of commodities increases, including silver. As such, today’s silver price in Rajasthan is higher than the past rates. 

 

However, the high price of silver in Rajasthan and other states is also good news for investors. This is because silver retains its purchasing power, giving you the same value.  

 

For example, what you can buy with ₹100 today is not the same as what you could a few years ago. However, what you can buy with 10 grams of silver is likely the same as a few years ago. 

 

Therefore, people prefer to invest in silver and other precious metals to hedge inflation. As such, if there are signs of high inflation, more people would start investing, affecting demand and price. 

  • Dollar Rates

USD is the base currency of silver; therefore, the dollar's position in the international market affects the silver price today in Rajasthan. The impact, however, is inverse. This means as the dollar gains a strong position, the silver rate would decrease and vice versa. 

 

This is because a strong dollar makes purchasing silver, reducing the demand for it. Whereas a weak dollar makes silver more accessible, increasing the demand. However, you cannot solely rely on the position of the USD to estimate the trend of silver because other factors are in play.

  • Government Guidelines

The government oversees all imports and exports of many commodities, including silver. These commodities are subject to a number of taxes and duties. As such, government policies and tax rates have a direct impact on silver rates today in Rajasthan and other Indian states. 

 

With the change of government or change in the rate of tax, silver prices may increase or decrease as per the change in policy. For instance, the new budget proposed an increase in import duty on silver. As such, the silver price in Rajasthan and other states will move up accordingly. 

  • Change in Other Commodity Prices

The silver rate in Rajasthan today gets affected by numerous other products, such as gold and crude oil. Gold and silver prices have a direct relationship because both are precious metals, helping the same way. As such, they follow the same trend in price. 

 

However, gold generally gets affected first because it holds more value and is more popular than white metal. But when the price of gold increases, the silver rate is not far behind because it is the second most popular precious metal.  

 

In terms of crude oil, the effect comes into play because silver is a mined metal. Since crude oil is used in the mining of silver, any increase in the price of crude oil will affect silver prices in India today in Rajasthan.

 

Now that you know the current silver price in Rajasthan and the factors that affect it, be sure to invest accordingly. This will help you make the most of your investment. Remember to diversify your investments to mitigate the risks.

 

Invest in some low-, mid-, and high-risk investment options to leverage the gains of one against the loss of another. This helps keep your investment and financial growth secure.

Read More

FAQs on Silver Rate in Rajasthan

Is certification important while selling silver in Rajasthan?

Yes. With proper certificates, you can ensure the authenticity and purity of the silver jewellery. Moreover, all silver ornaments with certificates also get a higher value on resale.

Can I invest in silver in Rajasthan?

Yes. You can invest in silver ETFs, bonds, physical silver products and more. Remember that the silver price in Rajasthan will also differ based on the type of silver you buy.

What is the role of silver as an investment option in Rajasthan's financial market?

Silver is an excellent investment option, regardless of whether you are in Rajasthan or other states. As an asset that appreciates in the long term, silver provides a hedge against inflation.

How does the tourism industry in Rajasthan affect the demand for silver?

Rajasthan is a popular place for antique and traditional jewellery. This, in addition to Rajasthan being a popular tourist place, leads to higher demand for silver, thereby affecting the silver prices in Rajasthan.

What are the popular forms of silver available in Rajasthan?

Silver is available in many forms, but coins, jewellery bars and bullion are most popular in Rajasthan, among other states. Keep in mind that the silver rate in Rajasthan and other areas will also depend on the form you buy.

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