Investment in precious metals such as gold and silver has been an age-old norm in India. While always popular, investments in precious metals are growing and this is simply because these metals are a good hedge against inflation.
Furthermore, the increasing gold and silver rate in Vizag (Visakhapatnam) and the rest of the country makes it a lucrative investment option. In fact, the country imported more than 9,000 tonnes of silver in the previous calendar year (2022). Moreover, the demand for silver rebounded after the lean phase of the COVID era.
This demand and supply chain is a prominent factor affecting today’s silver rate in Vizag and throughout the country. Read on to learn about the silver rate in Vizag today and that of the last 10 days. Also, understand the various underlying factors affecting silver prices throughout India.
Here is an overview of today’s silver price in Vizag for various quantities.
Quantity of Silver (in grams) |
Silver Price in Visakhapatnam |
1 |
₹ 78.50 |
10 |
₹ 785.00 |
100 |
₹ 7,850.00 |
1000 (1 kg) |
₹ 78,500.00 |
Disclaimer: The above silver price in Visakhapatnam is as of Jun 14, 2023, and is subject to change.
Like gold, even silver rates keep fluctuating due to various reasons. For instance, while the silver rate in Visakhapatnam was ₹79.20 for one gram of silver, today’s silver price in Vizag is ₹78.50 for the same quantity.
Here is a tabulated comparison of the silver rate in Visakhapatnam, and those of the last 10 days.
Date |
1 Gram Silver Price in Visakhapatnam |
10 Grams Silver Price in Visakhapatnam |
100 Grams Silver Price in Visakhapatnam |
1 KG Silver Price in Visakhapatnam |
14-06-2023 | ₹ 78.50 | ₹ 785.00 | ₹ 7,850.00 | ₹ 78,500.00 |
13-06-2023 | ₹ 79.20 | ₹ 792.00 | ₹ 7,920.00 | ₹ 79,200.00 |
12-06-2023 | ₹ 79.30 | ₹ 793.00 | ₹ 7,930.00 | ₹ 79,300.00 |
11-06-2023 | ₹ 79.80 | ₹ 798.00 | ₹ 7,980.00 | ₹ 79,800.00 |
10-06-2023 |
₹ 79.80 |
₹ 798.00 |
₹ 7,980.00 |
₹ 79,800.00 |
09-06-2023 |
₹ 79.70 |
₹ 797.00 |
₹ 7,970.00 |
₹ 79,700.00 |
08-06-2023 |
₹ 77.70 |
₹ 777.00 |
₹ 7,770.00 |
₹ 77,700.00 |
07-06-2023 |
₹ 78.00 |
₹ 780.00 |
₹ 7,800.00 |
₹ 78,000.00 |
06-06-2023 |
₹ 78.00 |
₹ 780.00 |
₹ 7,800.00 |
₹ 78,000.00 |
05-06-2023 |
₹ 77.70 |
₹ 777.00 |
₹ 7,770.00 |
₹ 77,700.00 |
Disclaimer: The cost of silver today in Vizag and with respect to the last 10 days are as of Jun 14, 2023.
The table shows that today’s silver price in Vizag is different from May 8 onwards. Hence, you must assess the market rates properly before investing in precious metals so that you can make the most of them.
However, there are various factors, such as economic sensitivities and other technical characteristics, to consider when purchasing silver. Read on to understand what they are and how they impact the silver rate today in Visakhapatnam and in the following days.
You can purchase silver when the supply in the market is high. Keep a close tab on the silver rate in Visakhapatnam and buy it when the silver price reduces.
Yes, investing in silver is an ideal option as it provides a hedge against inflation. With the silver price in Visakhapatnam steadily increasing, this is an ideal investment option.
You can easily test the silver purity using a magnet. Silver should not get attracted to the magnet if it is pure. While it is important to check the current silver price in Visakhapatnam and other states before purchasing silver, checking its purity is also equally important.
Yes. Irrespective of the fact from where you purchase silver, it is mandatory to pay GST. The applicable GST for buying silver in Vizag is 3%.