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Today Silver Rate in Salem
Today’s silver rate in Salem depends on supply and demand, gold prices, the US dollar exchange rate, inflation, interest rates, crude oil prices, and market conditions. The most common forms of silver available in Salem are 999 (pure silver), 925 (sterling silver) and 835 (German silver). Moreover, It is used in various sectors such as electronics, solar panels, medicine, photography, etc. It is also considered a symbol of wealth, prosperity and auspiciousness.
₹ 98,000
Today MCX silver price in rupees per 1 kg.
Today silver rate in india is 98,000 rupees per Kg
- 10 Gram Silver rate Today
- ₹ 980(10 gram)
- 1 Kg Silver rate Today
- ₹ 98,000(1 Kg)
Silver Rate Today in India (in Rs/1 gm)
Silver Rate | Silver Rate in Bangalore | Silver Rate in Chennai | Silver Rate in Delhi | Silver Rate in Hyderabad | Silver Rate in Mumbai |
1 Gm | ₹ 89 | ₹ 98 | ₹ 89 | ₹ 97 | ₹ 89 |
10 Gm | ₹ 895 | ₹ 980 | ₹ 895 | ₹ 979 | ₹ 895 |
100 Gm | ₹ 8,950 | ₹ 9,800 | ₹ 8,950 | ₹ 9,790 | ₹ 8,950 |
1 Kg | ₹ 89,500 | ₹ 98,000 | ₹ 89,500 | ₹ 97,900 | ₹ 89,500 |
Silver Rate in India for Last 10 Days
Date | 10 gram | 100 gram | 1 Kg |
Nov 28, 2024 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nov 27, 2024 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nov 26, 2024 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nov 25, 2024 | ₹ 1,005 | ₹ 10,050 | ₹ 1,00,500 |
Nov 24, 2024 | ₹ 1,010 | ₹ 10,100 | ₹ 1,01,000 |
Nov 23, 2024 | ₹ 1,010 | ₹ 10,100 | ₹ 1,01,000 |
Nov 22, 2024 | ₹ 1,010 | ₹ 10,100 | ₹ 1,01,000 |
Nov 21, 2024 | ₹ 1,010 | ₹ 10,100 | ₹ 1,01,000 |
Nov 20, 2024 | ₹ 1,010 | ₹ 10,100 | ₹ 1,01,000 |
Today Silver Rate of Metro Cities in India
City | 1 Gram | 10 Gram | 100 Gram | 1 Kg |
Bangalore | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Chennai | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Coimbatore | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Delhi | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Gurgaon | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Hyderabad | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Kolkata | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Mumbai | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Pune | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Surat | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Today Silver Rate of Other Cities in India
City | 1 Gram | 10 Gram | 100 Gram | 1 Kg |
Agra | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Ahmedabad | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Amaravati | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Amravati | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Amritsar | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Anantapur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Ariyalur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Aurangabad | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Bagalkot | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Bangalore | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Belgaum | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Bellary | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Berhampur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Bhiwandi | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Bhopal | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Bhubaneswar | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Chandigarh | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Chennai | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Chitradurga | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Coimbatore | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Cuddalore | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Cuttack | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Delhi | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Dharmapuri | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Dindigul | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Erode | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Gadag | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Ghaziabad | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Goa | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Guntur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Gurgaon | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Hosur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Hyderabad | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Indore | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Jaipur | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Jalgaon | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Kakinada | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Kanchipuram | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Kanpur | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Kanyakumari | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Karur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Kerala | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Khammam | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Kochi | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Kolar | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Kolhapur | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Kolkata | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Krishnagiri | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Kumbakonam | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Latur | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Lucknow | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Ludhiana | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Madurai | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Mandya | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Mangalore | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Meerut | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Mohali | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Mumbai | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Mysore | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Nagapattinam | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nagercoil | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nagpur | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Namakkal | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nashik | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Nellore | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Nizamabad | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Noida | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Ooty | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Palani | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Paramakudi | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Patna | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Perambalur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Pollachi | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Pondicherry | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Pudukkottai | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Pune | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Raipur | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Rajahmundry | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Rajkot | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Rourkela | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Sambalpur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Solapur | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Surat | ₹ 89 | ₹ 894 | ₹ 8,940 | ₹ 89,400 |
Thane | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Thanjavur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Thrissur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Tirunelveli | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Tirupati | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Tirupur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Tiruvannamalai | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Tiruvarur | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Trichy | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Trivandrum | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Vadodara | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Varanasi | ₹ 89 | ₹ 895 | ₹ 8,950 | ₹ 89,500 |
Vellore | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Vijayawada | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Villupuram | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Virudhunagar | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Visakhapatnam | ₹ 98 | ₹ 980 | ₹ 9,800 | ₹ 98,000 |
Warangal | ₹ 97 | ₹ 979 | ₹ 9,790 | ₹ 97,900 |
Today’s Silver Rate in Salem – An Overview
Silver is one of India’s most sought-after precious metals, mainly in Salem, a city in Tamil Nadu known for its rich cultural heritage and jewellery industry. Many people buy silver through coins, bars, jewellery, and utensils during festivals, weddings, and other occasions. Investing in Silver can be lucrative for generating wealth and having a financial backup during inflation. Today’s silver rate in Salem can be tracked in this guide for investors. Moreover, Discover its historical trends, comparison with other cities and countries, advantages and disadvantages as an investment option, and some tips on buying silver in Salem and today’s silver rate in Salem.
How Can You Make Silver as an Investment in Salem?
Some of the ways you can make silver as an investment in Salem are:
- Buy silver ETFs. Silver exchange-traded funds (ETFs) are mutual funds that invest in silver or silver-related assets.
- Buy silver stocks. They offer direct exposure to the silver market and can benefit from the price rise. You can buy silver stocks from online brokerage platforms or advisers that provide access to domestic and international silver companies.
- Buy silver coins and bullion. Silver coins and bullion are physical forms of silver that are at least 99.5% pure. They can be bought from government-approved dealers and jewellers online and offline.
- Purchase silver futures. Silver futures are contracts that allow you to buy or sell a specific amount of silver at a predetermined price and date in the future. They are traded on commodity exchanges such as MCX and NCDEX.
Things to Know Before Buying Silver Jewellery in Salem
Some of the things to know before buying silver jewellery in Salem are:
- Check the purity and hallmark of silver jewellery. Silver purity is measured in karats, and 24-karat silver is the purest form of silver. Look for the BIS logo, purity grade, hallmarking centre’s identification mark and jeweller’s identification mark on the silver jewellery.
- Compare the prices and offers of silver jewellery online and offline. Silver prices vary depending on the demand and supply, gold prices, currency movement, etc. You can compare the prices of silver jewellery across different online platforms and offline stores to get the best deal. Look for special offers, discounts, and cashback online sellers offer during festive seasons.
- Choose the right design and style of silver jewellery according to your preference and occasion.
- Check the return policy and warranty of the seller. Read and understand the seller’s return policy before making a purchase.
- Avoid buying from unknown or unreliable websites or sellers.
What Factors Affect Silver Prices in Salem?
Some of the factors that affect silver prices in Salem, India, are:
- The demand and supply of silver in the domestic and global markets. Higher demand and lower supply tend to push the prices up, while lower demand and higher supply tend to pull the prices down.
- The price of gold is often correlated with silver prices. If gold prices increase, silver prices follow suit, as both are considered precious metals and safe-haven assets
- The industrial demand for silver accounts for a large share of its consumption. Silver is used in various sectors, such as electronics, solar panels, medicine, photography, etc. If the industrial demand increases, silver prices tend to rise as well.
- The currency movement of the Indian rupee against the US dollar. Since silver is traded in US dollars internationally, a weaker rupee makes silver more expensive in India, while a stronger rupee makes silver cheaper in India.
- The inflation rate and interest rate in India and abroad. Higher inflation reduces the purchasing power of money and increases the demand for silver as a hedge against inflation. Higher interest rates make alternative investments more attractive and reduce the demand for silver as an asset.
Impact of GST on Silver Rate in Salem
GST has also impacted the silver rate in Salem, as well as in other parts of India. Implementing GST has increased the tax on silver from 1% to 3%. This tax increase has been passed on to the customer, resulting in a slight rise in silver prices. In addition, the government has also fixed a 5% GST on making charges of silver jewellery. This means the effective tax rate on silver jewellery has increased from around 4.2% to 8% after GST. However, the GST on silver coins and bullion is only 3%, lower than the previous tax rate of around 6%.
How can Interest Rates Affect Silver Prices in Salem?
Regarding Silver Rates in Salem, the interest rates play an indirect role. Generally, when the interest rates are low, it can result in inflation, increasing the demand for silver as a hedge against the same. This increased demand can drive up silver prices. On the other hand, when interest rates are high, it can lead to a stronger currency and lower inflation, reducing the demand for silver and potentially lowering its price. Interest rates can also affect currency exchange rates, indirectly impacting silver prices.
Latest News on Silver Rate in Salem
[22 April 2023] – Today Silver rates in Salem hit a slight decline
- Considering the global silver rates, today silver rates in Salem stand at INR 72,500 per kg.
- Concurrently, one gram of silver now costs INR 80.40.
- Today silver rate in Salem for 8 grams is INR 643.20 as compared to yesterday’s rate, which was INR 650.40
- Ten grams of silver in Salem now costs INR 804 compared to yesterday’s rate of INR 813.
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Today Silver Rate of Metro Cities in India
Today Silver Rate of Other Cities in India
- Today Silver Rate In Agra
- Today Silver Rate In Ahmedabad
- Today Silver Rate In Amaravati
- Today Silver Rate In Amravati
- Today Silver Rate In Amritsar
- Today Silver Rate In Anantapur
- Today Silver Rate In Ariyalur
- Today Silver Rate In Aurangabad
- Today Silver Rate In Bagalkot
- Today Silver Rate In Belgaum
- Today Silver Rate In Bellary
- Today Silver Rate In Berhampur
- Today Silver Rate In Bhiwandi
- Today Silver Rate In Bhopal
- Today Silver Rate In Bhubaneswar
- Today Silver Rate In Chandigarh
- Today Silver Rate In Chitradurga
- Today Silver Rate In Cuddalore
- Today Silver Rate In Cuttack
- Today Silver Rate In Dharmapuri
- Today Silver Rate In Dindigul
- Today Silver Rate In Erode
- Today Silver Rate In Gadag
- Today Silver Rate In Ghaziabad
- Today Silver Rate In Goa
- Today Silver Rate In Guntur
- Today Silver Rate In Hosur
- Today Silver Rate In Indore
- Today Silver Rate In Jaipur
- Today Silver Rate In Jalgaon
- Today Silver Rate In Kakinada
- Today Silver Rate In Kanchipuram
- Today Silver Rate In Kanpur
- Today Silver Rate In Kanyakumari
- Today Silver Rate In Karur
- Today Silver Rate In Kerala
- Today Silver Rate In Khammam
- Today Silver Rate In Kochi
- Today Silver Rate In Kolar
- Today Silver Rate In Kolhapur
- Today Silver Rate In Krishnagiri
- Today Silver Rate In Kumbakonam
- Today Silver Rate In Latur
- Today Silver Rate In Lucknow
- Today Silver Rate In Ludhiana
- Today Silver Rate In Madurai
- Today Silver Rate In Mandya
- Today Silver Rate In Mangalore
- Today Silver Rate In Meerut
- Today Silver Rate In Mohali
- Today Silver Rate In Mysore
- Today Silver Rate In Nagapattinam
- Today Silver Rate In Nagercoil
- Today Silver Rate In Nagpur
- Today Silver Rate In Namakkal
- Today Silver Rate In Nashik
- Today Silver Rate In Nellore
- Today Silver Rate In Nizamabad
- Today Silver Rate In Noida
- Today Silver Rate In Ooty
- Today Silver Rate In Palani
- Today Silver Rate In Paramakudi
- Today Silver Rate In Patna
- Today Silver Rate In Perambalur
- Today Silver Rate In Pollachi
- Today Silver Rate In Pondicherry
- Today Silver Rate In Pudukkottai
- Today Silver Rate In Raipur
- Today Silver Rate In Rajahmundry
- Today Silver Rate In Rajkot
- Today Silver Rate In Rourkela
- Today Silver Rate In Sambalpur
- Today Silver Rate In Solapur
- Today Silver Rate In Thane
- Today Silver Rate In Thanjavur
- Today Silver Rate In Thrissur
- Today Silver Rate In Tirunelveli
- Today Silver Rate In Tirupati
- Today Silver Rate In Tirupur
- Today Silver Rate In Tiruvannamalai
- Today Silver Rate In Tiruvarur
- Today Silver Rate In Trichy
- Today Silver Rate In Trivandrum
- Today Silver Rate In Vadodara
- Today Silver Rate In Varanasi
- Today Silver Rate In Vellore
- Today Silver Rate In Vijayawada
- Today Silver Rate In Villupuram
- Today Silver Rate In Virudhunagar
- Today Silver Rate In Visakhapatnam
- Today Silver Rate In Warangal
Frequently Asked Questions (FAQs)
How often do silver rates change in Salem?
Silver rates in Salem change daily and are influenced by inflation, supply and demand, and global market conditions.
How can I check the ongoing Silver rates in Salem?
You can check today’s silver rates in Salem through the Urban Money website’s Silver rate tracker. You can also check with local retailers for the current silver rates in Salem.
How do I get the best silver rate in Salem?
To get the best silver rate in Salem, you can compare different retailers’ rates. You can also monitor the daily silver rates and buy when the rates are low.
What is the preferred form of silver for investment in Salem?
One of the best ways to invest in silver is by purchasing silver coins, bars, statues, ornaments, and other commodities. If you plan to buy silver in bulk, it is recommended to purchase silver bars.
How to purchase silver coins in Salem?
One of the best ways to invest in silver is by purchasing silver coins. You can buy silver coins from authorised stores or even from a bank.
Will I have to pay GST while buying silver in Salem?
You will have to pay GST while buying silver in Salem. Silver, be it unwrought or in semi-manufactured forms, or in powder form, is taxed at a rate of 3% under GST.
Why should I check the daily silver rates in Salem?
Many investors keep a close eye on the fluctuating silver rates. It helps them invest at the right time and accurately study the market.
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