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Silver has been a great investment avenue for centuries. Indian households consider the metal precious, as it is often bought and gifted during festivities. However, the way in which Indians invest in silver has radically changed.
Now you are not limited to investing in silver by purchasing physical metal in the form of jewellery, coins, and bars. With the emergence of new trading avenues, you can also park your money in silver by investing in other forms of this asset:
Digital silver
Silver futures and options (F&O)
Silver Exchange-Traded Funds (ETFs)
However, if you have already decided to invest in silver, it is advisable to check today’s silver price in Gujarat. Knowing the silver price in Gujarat today will help you decide the volume you can buy based on your budget.
Read on to know about the prevailing silver prices in Gujarat.
Buying silver is simple as you can get it at any jeweller offering BIS-hallmarked physical silver. You can also invest in digital silver easily through National Spot Exchange Limited (NSEL).
However, you will need to know the latest silver price in Gujarat before you invest in this precious metal. This is because the silver rate in Gujarat varies depending on several factors, including the city. The following silver rates:
Weight |
Silver Rate in Gujarat |
|---|---|
1 |
₹ 110 |
10 |
₹ 1,100 |
100 |
₹ 11,000 |
1000 (1 kg) |
₹ 1,10,000 |
Given below is an overview of the silver rate in Gujarat for the last three days.
Date |
1 Gram Silver Price |
10 Grams Silver Price |
100 Grams Silver Price |
1 KG Silver Price |
|---|---|---|---|---|
April 18, 2025 |
₹ 110 |
₹ 1,100 |
₹ 11,000 |
₹ 1,10,000 |
April 17, 2025 |
₹ 110 |
₹ 1,100 |
₹ 11,000 |
₹ 1,10,000 |
April 16, 2025 |
₹ 110 |
₹ 1,100 |
₹ 11,000 |
₹ 1,10,000 |
Disclaimer: The above prices are as of April 18, 2025.
The affordability of this precious metal makes silver one of the best investment options you are looking to diversify with this asset class. This is also because the returns on silver have historically outperformed gold many times.
However, as mentioned above, there are several factors that influence the silver rate in Gujarat that you must be aware of. These factors are as follows.
Purity of the Metal
One of the most significant factors that impact the silver rate in Gujarat is the purity of this precious metal. The Bureau of Indian Standards (BIS) categorises silver in different Grades based on their purity standards.
For instance, Grade 9999 is the purest form of silver containing 99.99% of silver. The silver prices of this grade of silver will be higher. However, if you decide to purchase sterling silver, i.e., Grade 9250, it will only have 92.50% of pure silver.
Hence, the prices of sterling silver will be lower as compared to the higher grades.
Demand and Supply Metrics
Like every other commodity, demand and supply forces determine the rate of silver in Gujarat. These forces operate at two levels and affect the prices of this hard asset. Changes in demand or supply at the global level may have a significant impact on prices.
On the other hand, the changes in these forces in the local market also influence silver prices marginally. When the supply expands and demand remains constant, the silver price in Gujarat will fall and vice versa.
However, if the demand for silver increases, the silver prices will increase, if the supply remains the same, and vice versa.
Inflation Rates
Many investors believe investing in silver proves to be a great hedge against investment. During various economic crises when inflation is high, investors choose silver to protect their wealth against price rises.
When inflation is strong, silver prices grow following the same trajectory. However, when the inflation rate eases, the silver price in Gujarat may dip. So, if you wish to retain your purchasing power, investing in silver and leveraging it during high inflation can be smart.
Value of the US Dollar
The exchange value of the US Dollar against different currencies also determines silver prices globally. This is because most international transactions are linked with the US Dollar. So, when the value of this currency depreciates, the silver prices in Gujarat will also fall.
On the other hand, if the US Dollar gains strength, the rate of this precious metal may also rise. While this is one factor that affects the rate of silver, keep in mind that it isn’t the only one. You may see marginal gains if you invest solely based on the movements of the US Dollar.
Political and Economic Trends
Silver prices generally increase when there is political stability. Alternatively, political aggression or war can breed instability in the society and economy. This leads to a fall in the price of silver.
On the other hand, if the economic market and regional economies are strong, silver prices may generally be lower. This is because people would prefer to invest more in other investment avenues for better returns.
However, when there is economic uncertainty, people tend to invest in hard assets to safeguard their wealth. The increased demand also pushes the prices of this metal upwards.
Central Bank Initiatives
Gujarat’s silver rate also depends on the policy initiatives taken by the Reserve Bank of India (RBI). The RBI’s reviews its monetary policy frequently, and any changes here impact the prices.
On the other hand, RBI also maintains silver bullion, like gold reserves. So, whenever RBI decides to sell a part of this bullion, the supply of the metal increases in the market, driving the price downwards. In the same way, if RBI buys silver in large quantities from the market, the rate of silver in Gujarat may increase.
Rate of Interest
The prevailing interest rates have a direct bearing on today’s silver price in Gujarat. For instance, if the interest rates offered are higher, people will prefer to invest in other investment avenues than hard assets.
On the other hand, if the rates of interest are lower, people will prefer to invest in gold and silver to earn higher returns. The higher demand for silver will ultimately lead to a hike in its price.
Taxation
When you buy silver in any form, taxes are applicable on its total price. Before the introduction of the GST, a 1% excise duty was levied on silver purchases. On top of that, states also charged a value-added tax (VAT) of 1% on silver prices. Under the indirect tax regime, you have to pay a 3% GST on today’s silver price in Gujarat.
In conclusion, if you wish to buy or invest in silver, you can easily do so from any jeweller or commodity exchange market. However, to gain maximum returns on your investment, you must be aware of the Gujarat silver price today.
In addition to this, there are several factors that influence the price of this hard asset. When investing in silver, take into account these factors to analyse today’s prices as well as estimate future trends.
You can purchase silver from any jeweller selling BIS-hallmarked silver. In addition, banks also sell silver but the prices may be slightly higher there. In addition, you can also purchase digital silver from the National Spot Exchange Limited (NSEL).
The silver rate in Gujarat is determined based on various factors, including geopolitical and economic trends, taxation, industrial demand, etc.
Yes, you can invest in silver in Gujarat in the form of physical silver, Silver F&O, and Silver ETFs.
The popular forms of silver available in Gujarat are silver coins, bars, jewellery, Silver F&O, and Silver ETFs.
No, there is no restriction on selling silver in Gujarat.
Yes, you will have to pay 3% GST on the silver price in Gujarat.
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