Silver does not cost as much as gold; however, its demand is no less. Silver jewellery and articles are quite often bought by Indians. Considered highly auspicious, many households use silverware and even gift them to dear ones during festivities. The price of silver in India varies across cities on account of local market factors such as its demand and supply, taxes and transportation charges. This article sheds light on how lucrative investments in silver are in Vijayawada and its rates over the recent months.
Some salient factors that impact the price of silver are:
As silver is an appreciatory commodity, it is best suited for long-term investors. There are numerous ways to invest in silver which include:
Considering the fact that in its purest form silver is very soft, several other metals like zinc, copper or nickel are added to give it strength. Copper makes silver harder, but it has a tendency to tarnish. This darkens the jewellery as it often comes in contact with water, air or other elements. Since 2003, some jewellers have experimented by mixing platinum, which is harder and resistant to tarnish. However, this may increase the ornament’s price. The best form of silver that is sold is sterling silver, as it consists of 92.5% of the precious metal. It would be stamped as 925 or .925. As a buyer, one must refrain from purchasing jewellery that has less than this purity level.
Several jewellers have reported that many fraud cases take place in silver ware and jewellery. Individuals are hence advised to only purchase these from reputed jewellers with credible buyback policies. Silver can be resold based on its weight. As the metal is often melted for reuse, a buyer may lose out on the making charges. The only exception is if an individual has antique silver jewellery.
Trend of Silver Rate in Vijayawada for August 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st August rate | Rs. 44,965 |
| 31st August rate | Rs. 48,500 |
| Highest rate in August | Rs. 49,160 on August 27 |
| Lowest rate in August | Rs. 44,522 on August 10 |
| Overall performance | Rising |
| % Change | +7.86% |
Trend of Silver Rate in Vijayawada for July 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st July rate | Rs. 40,578 |
| 30th July rate | Rs. 44,965 |
| Highest rate in July | Rs. 44,965 on July 31 |
| Lowest rate in July | Rs. 40,560 on July 9 |
| Overall performance | Rising |
| % Change | +10.81% |
Trend of Silver Rate in Vijayawada for June 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st June rate | Rs. 39,600 |
| 31st June rate | Rs. 40,500 |
| Highest rate in June | Rs. 40,500 on June 29 |
| Lowest rate in June | Rs. 39,450 on June 2 |
| Overall performance | Falling |
| % Change | +2.27% |
Trend of Silver Rate in Vijayawada for May 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st April rate | Rs. 40,500 |
| 30th April rate | Rs. 39,500 |
| Highest rate in April | Rs. 40,700 on May 3 |
| Lowest rate in April | Rs. 39,360 on May 25 |
| Overall performance | Falling |
| % Change | -2.47% |
Trend of Silver Rate in Vijayawada for April 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st April rate | Rs. 40,647 |
| 31st April rate | Rs. 40,000 |
| Highest rate in April | Rs. 40,863 on April 10 |
| Lowest rate in April | Rs.40,000 on April 23 |
| Overall performance | Falling |
| % Change | -1.59% |
Trend of Silver Rate in Vijayawada for March 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st March rate | Rs. 43,300 |
| 28th March rate | Rs. 41,500 |
| Highest rate in March | Rs. 43,300 on March 1 |
| Lowest rate in March | Rs. 41,100 on March 8 |
| Overall performance | Rising |
| % Change | -4.16% |
The GST that is applicable on silver is 3%. This rate is applicable on i) Silver (including silver plated with gold or platinum), unwrought or semi-manufactured forms, or in powder form, ii) Base metals or silver, clad with gold, not further worked than semi-manufactured, iii) Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal, etc. (Source: GST Council)
Vijayawada, as a city, always has high demand for Silver. Before the purchase of Silver, it is very important for a buyer to check the prevailing rate. Even a small variation in the Silver rate can lead to a huge loss. Thus, it is vital to check the current price/rate of Silver in Vijayawada. You can also visit various jewellers before making the final purchase.
The different ways by which one can buy silver include:
Silver jewellery that has been hallmarked by the Bureau of Indian Standards has the BIS logo. This acts as evidence that the purity of the silver has been verified in one of the licensed laboratories of the bureau. However, it is important to note that BIS hallmarking is not compulsory, i.e. not all jewellers provide hallmarked BIS jewellery. Many of them offer their in-house hallmarking which is not verified by the national standards body of India. Before buying silver jewellery, it is important to check with your jeweller whether or not they offer BIS hallmarked ornaments.
As a versatile precious metal, silver has various uses and investment opportunities. Considering that it is abundant compared to gold, it is much more affordable as compared with gold. Therefore, investing in silver can help people diversify their portfolios. It is best combined with gold investments and any stocks or bonds, and is regarded worthy of the risk involved.
What is per gram Silver rate in Vijayawada?
According to the website of Good Returns, the per gram silver rate is Rs. 52 (as on 6 September 2019).
What is 10 grams Silver rate in Vijayawada?
According to the website of Good Returns, the rate for 10 grams silver is Rs. 520 (as on 6 September 2019).
What is 100 grams Silver rate in Vijayawada?
According to the website of Good Returns, the rate for 100 grams silver is Rs. 5,200 (as on 6 September 2019).
What is 1 kg Silver rate in Vijayawada?
According to the website of Good Returns, the rate for 1 kg of silver is Rs. 52,000 (as on 6 September 2019).
