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Silver Rate in Patna: 31 May 2020
Updated: May 31,2020 12:13 IST
Comparison of Silver Rate in Patna INR 31st May 2020
| Gram | Silver Rate Today | Yesterday Silver Rate | Change |
|---|---|---|---|
| 1 gram | ₹ 50.10 | ₹ 50.10 | NIL |
| 8 gram | ₹ 400.8 | ₹ 400.8 | NIL |
| 10 gram | ₹ 501 | ₹ 501 | NIL |
| 100 gram | ₹ 5010 | ₹ 5010 | NIL |
| 1 Kg | ₹ 50100 | ₹ 50100 | NIL |
Silver Rate/Price in Patna Last 10 days
| Date | 10 gram Silver Rate | 10 gram Silver Rate | 1kg Silver Rate |
|---|---|---|---|
| May 31,2020 | ₹ 501 | ₹ 5,010 | ₹ 50,100 |
| May 30,2020 | ₹ 501 | ₹ 5,010 | ₹ 50,100 |
| May 29,2020 | ₹ 485.5 | ₹ 4,855 | ₹ 48,550 |
| May 28,2020 | ₹ 485 | ₹ 4,850 | ₹ 48,500 |
| May 27,2020 | ₹ 479 | ₹ 4,790 | ₹ 47,900 |
| May 26,2020 | ₹ 487 | ₹ 4,870 | ₹ 48,700 |
| May 25,2020 | ₹ 480 | ₹ 4,800 | ₹ 48,000 |
| May 24,2020 | ₹ 483.6 | ₹ 4,836 | ₹ 48,360 |
| May 23,2020 | ₹ 483.5 | ₹ 4,835 | ₹ 48,350 |
| May 22,2020 | ₹ 482.5 | ₹ 4,825 | ₹ 48,250 |
| May 21,2020 | ₹ 482 | ₹ 4,820 | ₹ 48,200 |
Silver Rate in Other Cities
Historical Silver Price in Patna for Last 6 Months
Silver Price in Patna May 2020
| Silver Price | |
|---|---|
| 1st May,2020 | Rs. 41,000 |
| 31st May,2020 | Rs. 50,100 |
| Highest Price | Rs. 50,100/- per Kg on 30th May,2020 |
| Lowest Price | Rs. 41,000/- per Kg on 1st May,2020 |
| Over all performance | |
| Percentage Change | -18.16% |
Silver Price in Patna May 2020
| Silver Price | |
|---|---|
| 1st May,2020 | Rs. 41,000 |
| 31st May,2020 | Rs. 50,100 |
| Highest Price | Rs. 50,100/- per Kg on 30th May,2020 |
| Lowest Price | Rs. 41,000/- per Kg on 1st May,2020 |
| Over all performance | |
| Percentage Change | -18.16% |
Silver Price in Patna March 2020
| Silver Price | |
|---|---|
| 1st March,2020 | Rs. 48,500 |
| 31st March,2020 | Rs. 39,480 |
| Highest Price | Rs. 51,080/- per Kg on 7th March,2020 |
| Lowest Price | Rs. 39,480/- per Kg on 31st March,2020 |
| Over all performance | |
| Percentage Change | 17.66% |
Silver Price in Patna March 2020
| Silver Price | |
|---|---|
| 1st March,2020 | Rs. 48,500 |
| 31st March,2020 | Rs. 39,480 |
| Highest Price | Rs. 51,080/- per Kg on 7th March,2020 |
| Lowest Price | Rs. 39,480/- per Kg on 31st March,2020 |
| Over all performance | |
| Percentage Change | 17.66% |
Silver Price in Patna January 2020
| Silver Price | |
|---|---|
| 1st January,2020 | Rs. 49,350 |
| 23rd January,2020 | Rs. 49,000 |
| Highest Price | Rs. 51,000/- per Kg on 6th January,2020 |
| Lowest Price | Rs. 48,900/- per Kg on 14th January,2020 |
| Over all performance | |
| Percentage Change | 0.69% |
Silver Price in Patna December 2019
| Silver Price | |
|---|---|
| 1st December,2019 | Rs. 46,650 |
| 31st December,2019 | Rs. 49,350 |
| Highest Price | Rs. 49,350/- per Kg on 31st December,2019 |
| Lowest Price | Rs. 46,650/- per Kg on 1st December,2019 |
| Over all performance | |
| Percentage Change | -5.47% |
Silver Price in Patna December 2019
| Silver Price | |
|---|---|
| 1st December,2019 | Rs. 46,650 |
| 31st December,2019 | Rs. 49,350 |
| Highest Price | Rs. 49,350/- per Kg on 31st December,2019 |
| Lowest Price | Rs. 46,650/- per Kg on 1st December,2019 |
| Over all performance | |
| Percentage Change | -5.47% |
What is the Silver Rate in Patna?
Trend of Silver Rate in Patna:
What are the factors affecting Silver Rate in Patna?
What is Silver Rate in Patna based on different measuring units?
How is Silver Rate in Patna determined by Purity of Silver?
Things to note when buying Silver, after knowing Silver rate in Patna:
- Take into consideration the details of the overall craftsmanship, the intricacy of Silver Jewellery designs, the weight of the Silver Jewellery items and any marks, flaws or areas of tarnish.
- Look for the hallmark .925, which indicates that the metal is genuine sterling silver. Authentic silver jewellery will have markings like "Sterling Silver", "925", "Ster" in secret places.
- Check if anywhere it is mentioned that it has nickel plating. Nickel plating is harmful for skin.
When buying silver in Patna, it is recommended to prefer online Silver dealers, because online dealers may potentially offer significantly lower dealer premiums compared to brick and mortar coin and bullion shops. Online dealer silver price today in Patna can be quickly and conveniently compared from the comfort of your home or office. Through online Silver dealers, You can simply pick a few products you are interested in purchasing, and compare the silver price per kg today between a few different dealers. In this Patna Silver rate Comparison, Don't forget to include any shipping or handling costs as well. Some dealers may offer highly discounted or even free shipping, while others don't. The total cost of the purchase and any shipping or insurance fees should be factored in when comparing dealers. You can easily conclude the best dealer with reasonable silver price today in Patna.
Silver Rate in Patna - How to pay by Check or Bank Wire?
Many offline Silver dealers often offer one price for bank wire or check and a higher Silver price for credit or debit card payments for your Silver purchase. The fact behind that is the dealer incurs a processing fee from the card provider. On purchasing Silver in Patna, to get the best possible silver rate in Patna, stick with bank wires or checks.
How to buy Silver after checking silver price in Patna?
The most important thing to keep in mind while buying any kind of silver in Patna is to check the live silver market rate i.e., live silver price today in Patna. Silver bars can be purchased from banks and big jewelers, as they are typically kept for serious investors. These bars typically range from 500 gm to 1kg.
What is the future scope of exchange based on Silver Rate in Patna?
For a serious Silver investor, it is one of the best option to buy silver in the Futures Exchange market. There are also several charges associated with trading in the futures market, including brokerage, stamp duty and various other charges that any silver buyer would have to bear.
Silver Rate in Patna - What is Silver ETF?
In Patna, there is no silver ETF (Exchange Traded Fund) currently with the closure of the National Spot Exchange. However, there is an option for trading in Silver ETFs listed in the US market. Investors looking to trade in the silver ETFs listed on the US market need to open an account with a stock broker who offers a platform for investing in international stock markets.Keep the following points in mind before buying Silver in Patna:
- Closely Research Silver Rate in Patna and in your particular local area
- Decide what kind of silver you want to buy - silver bars, silver coins, or silver jewelry.
- Ensure certification i.e., check for BIS Hallmark during your silver purchase
- Careful about buying only from trusted certified sellers.
Silver Rate in Patna - How to buy Silver from banks in Patna?
Buying silver from any bank in Patna may give you the satisfaction about the purity of silver as a bank is more reputable than the jeweller next door, but it also means that you have to pay much more. HDFC Bank was the first bank in the country to sell physical silver in India. Thus, Purchasing silver from a bank in Patna is a relatively safer option, as the bullion comes with a certificate of quality and is guaranteed by the bank and an external agency.
What is BIS Hallmarked Silver Rate in Patna?
Hallmarking is a process that officially records and determines the metal content in gold/silver articles. It's used as a seal of guarantee that assures purity, which is accepted in various countries. In India, BIS (Bureau of Indian Standards) is the national Standards body of India who authenticates the purity of Silver in India. FX Global Metal Corporation is the India's first company to offer 999 BIS Hallmarked Silver Coins.
BIS has launched the hallmarking scheme for silver in December 2005 under IS 2112. A hallmarked silver article will contain the following:
- A BIS Mark on the surface of the article
- A purity grade (ranging from 999.9 to 999 for fine silver and For silver alloys, silver Jewellery and silver artifacts, silver purity grade is 970, 925, 900, 835, 800).
| Grade | Fineness | |
| 9999 | Fine Silver | 999.9 |
| 9995 | Fine Silver | 999.5 |
| 999 | Fine Silver | 999.0 |
| 990 | Silver alloys for jewellery artefacts | 990.0 |
| 970 | Silver alloys for jewellery artefacts | 970.0 |
| 925 | Silver alloys for jewellery artefacts | 925.0 |
| 900 | Silver alloys for jewellery artefacts | 900.0 |
| 835 | Silver alloys for jewellery artefacts | 835.0 |
| 800 | Silver alloys for jewellery artefacts | 800.0 |
- Assaying/Hallmarking Centre's Identification Mark/Number
- Jeweller's identification mark
- Year of marking - denoted by a code letter (e.g.'R' for year 2013)
Silver buyers should look for the above four signs while buying silver or silver jewellery in Patna, after knowing the correct silver price today in Patna from this page.
Why Silver Rate in Patna cheaper when compared to Gold?
Throughout the modern era, silver has been considered cheaper as compared to gold. A majority of silver is used for industrial purposes. One of the primary reasons that make Silver Rate in Patna cheaper is its lesser demand across the Patna. The higher demand means the higher silver price in Patna and vice-versa.
Silver Rate in Patna varies for different forms of Silver:
Silver is available in multiple forms including bullion bars, rounds, coins and collectible coins. Among these forms of Silver, Bullion bars are the least expensive for refiners to produce.
How are the taxes levied based on Silver Rate in Patna?
In Patna, "Silver" is also called as the "poor man's gold". Every Silver buyer will be charged VAT (value Added tax) on their Silver bullion purchase at the time of Silver purchase in Patna. If one have bought silver bullion above Rs. 5 lakh in cash, he will be required to pay tax of 1% at source (at the time of Silver purchase). 1% Wealth tax is payable if the net taxable wealth of your Silver exceeds Rs.30 lakh for the financial year. Silver that is given as a gift is tax free in Patna as well as all over India. But one must keep a record of the gift that he have received to avoid confusion with the Income Tax (IT) Department.
From 1st July, 2017, after implementation of GST (Goods and Services Tax) across India, Gold jewellery, silver and processed diamonds will also be taxed at 3 percent in Patna.
What is the importance of checking Silver Rate in Patna?
It is very important to check Silver Rate in Patna, before buying silver in online or any retail shop, because even a little variation in silver price today in Patna can lead to a big loss. The current silver rate in Patna is very high when compared to that of last 10 years. Therefore it is important to check frequently the live silver price today in Patna at this page and to compare current silver rate in Patna with each jeweller before buying silver in Patna. The larger and the more reputed jewellers in Patna may charge more for making charges for your silver purchase. If you realize that the making charges of silver is significantly high in one jewellery shop, then you should look at the other jeweller, where you would get a decent Silver rate in Patna. In this page, You can discover the correct accurate Silver Rate in Patna.