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Silver holds importance in various ceremonies and is an integral part of Bengali culture. The precious metal is used for auspicious occasions such as weddings and religious festivities like Durga Pooja. Apart from its cultural value, silver is also a tangible investment that offers financial security to individuals in West Bengal. However, prior to making an investment or purchasing the metal, it is important to update yourself with the latest silver rates to make well-informed financial decisions.

Silver Price in West Bengal

The price of silver in West Bengal today is as follows:

Weight

Silver Rate Today 

Silver Rate Yesterday

Price Difference

1 g

₹77

₹76.90

₹0.10

10 g

₹770

₹769

₹1

100 g

₹7,770

₹7,690

₹10

1 kg

₹77,700

₹76,900

₹100

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

Silver Rate in West Bengal in the Last 10 Days

The following table provides an overview of the fluctuations in silver rates in the state over the last few days:

Date

1 g

10 g

100 g

1 kg

Mar 18, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 17, 2024

₹76.90

₹769.00

₹7,690.00

₹76,900.00

Mar 16, 2024

₹76.90

₹769.00

₹7,690.00

₹76,900.00

Mar 15, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 14, 2024

₹77.00

₹770.00

₹7,700.00

₹77,000.00

Mar 13, 2024

₹75.20

₹752.00

₹7,520.00

₹75,200.00

Mar 12, 2024

₹76.10

₹761.00

₹7,610.00

₹76,100.00

Mar 11, 2024

₹75.60

₹756.00

₹7,560.00

₹75,600.00

Mar 10, 2024

₹75.70

₹757.00

₹7,570.00

₹75,700.00

Mar 09, 2024

₹75.70

₹757.00

₹7,570.00

₹75,700.00

*Disclaimer: The aforementioned rates are subject to change as per market conditions.

Factors that Affect Silver Rates in West Bengal

Here are the key factors that can have a significant impact on the price of silver in West Bengal:

  • The Bureau of Indian Standards (BIS) classifies silver grades based on the metal’s purity, impacting its price.

  • Market dynamics, influenced by global and local factors, influence silver prices

  • Supply and demand dynamics, along with inflation rates, impact the metal’s price

  • Strengthening of the U.S. dollar leads to higher silver prices, while depreciation causes a dip

  • RBI policies regarding silver transactions and monetary policy revisions impact the silver rate in West Bengal

  • Political unrest or wars can heighten inflation, increasing demand and thus, the price of silver

  • Change in inflation rates may have a major impact on the price of silver in the state

  • Declining interest rates elsewhere can drive demand for silver, leading to an increase in the prices

  • Changes in taxation, including GST, contribute to fluctuations in silver prices in the state

FAQs

Are there any taxes or additional charges applicable to silver purchases in West Bengal?

About 3% of GST and additional making charges apply to all silver jewellery and products in West Bengal and across India.

How often does the silver rate in West Bengal change?

The price is revised daily as it is affected by multiple factors such as changes in monetary policies, local demand and supply of silver, etc.

How can I check the purity of the silver I purchased in West Bengal?

Here are some ways to check the purity of silver:

  • Hallmark stamp: Check for a stamp that denotes the purity of the metal

  • Acid Test: Using acids like Nitric Acid to test the silver can help you accurately measure the metal’s purity

  • Magnet Test: Silver is a non-ferrous metal and thus its pure form is not strongly attracted to magnets

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