Silver Rate/Price in Chandigarh Today

FAQs on Silver Rate in Chandigarh

• Which factors determine the silver rates in India?

  Silver rates in India are mainly influenced by global factors such as the demand for the precious metal in the international market and supply, geopolitical events and economic indicators, and changes in the value of the currency. Silver prices are also influenced by local factors such as import duties, taxes and local demand. 

• How will I know if the silver I have purchased in Chandigarh is pure?

  One of the best ways to understand silver purity level is through hallmarking. That is why, it is essential to buy silver or silver ware certified by the Bureau of Indian Standards (BIS) to ensure its purity. Another way to determine if you have bought pure silver is to use a magnet. Silver does not have magnetic properties. If silver is attracted to a magnet, it could be a sign that other metals or other impurities are present. 

• Where can I check the current cost of white metal in the Indian market?

  There are several ways to check the silver rates in the Indian market. For instance, you can check the rates on the financial news websites and nationalized banks. You can also check the rates on commodity trading platforms and other specialised applications designed to show the commodity rates. Live silver rates are also displayed in many jewellery stores and gold bullion dealers. 

• How often does the cost white metal fluctuates across India?

  The price of silver in India fluctuates frequently. There is a good chance that the price of silver will change several times in a day. The price of silver is affected by the real-time market movements in the world. Therefore, the price of silver is highly volatile. 

• Which factors are responsible for volatility in the rates of silver metal in India?

  Silver rates in India fluctuate due to a variety of reasons. These include constant changes in economic conditions around the globe, geopolitical instability, currency fluctuations, industrial demand for silver, investment demand and government policies regarding silver trade and taxation. 

• Why is the cost of white metal different in different cities across India?

  The price of white metal varies slightly from city to city in India. The reason for this is that the price of transportation, local taxes, and demand for and supply of white metal are all factors that can affect the price of white metal. However, most of the time, these variations are marginal and silver rates usually follow a similar pattern across the major cities of India. 

• Do cost of white metal in India includes taxes and other charges?

  In most cases, the price quoted for white metal in India does not include taxes and other fees. Additional taxes such as Goods and Services Tax (GST), making (for jewelry) charges, and transportation charges may be applicable depending on the nature of the transaction and seller’s policies. 

• Is it advisable to invest in silver in India?

  Yes, you can invest in the white metal in India. You can buy silver in India through multiple options such as physical silver (silver bars, silver coins, silver jewelry), silver ETFs, silver futures contracts on the commodity exchanges, silver mining stocks, etc. But it is important to know that each of these investment options has its risk-return profile as well as suitability depending on the investor’s preferences and investment goals. 

• Should I monitor silver rates regularly if I have invested in white metal?

  Yes, it is important to keep an eye on the silver rates regularly, especially for investors interested in trading or investing in silver. Keeping track of price movements helps you make informed decisions about buying, selling, or holding their silver investments based on market trends and their investment goals. 

• Which reasons are responsible for tarnishing of white metal in Chandigarh?

  Silver tarnishes when it comes into contact with air. This is caused by a chemical reaction between the white metal and sulphur present in the air. This reaction creates a dark silver sulphide layer on the surface of silver. Because silver is a precious metal, it is important to protect it from tarnishing by taking care of it and storing it properly.