Kolkata is the third largest metropolitan city in India and over 14 million people call it home. The erstwhile British capital of India is a hub of marketing and industries, accounting for a major chunk of investments made in the country.
The city is deeply rooted in tradition and has a glorious, unparalleled history. Silver has held high value among Indians and has found multiple uses, making it one of the most versatile precious metals.
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*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Today's Silver Price in Kolkata
Silver has been used since the early ages as a tool for payment, enhancing trade between India and the rest of the world and Kolkata was right at the center of this trade.
Current silver rate today depend on market conditions and vary according to demand and supply. Residents of Kolkata are one of the largest consumers of silver and fluctuating rates have not deterred them from purchasing this precious metal.
Historical Trend of Silver Price in Kolkata
| Months | Lowest Silver Price Per Kg | Highest Silver Price Per Kg |
|---|---|---|
| February 2023 | 69,000 | 77,300 |
| January 2023 | 73,500 | 75,800 |
| December 2022 | 69,800 | 74,700 |
| November 2022 | 63,700 | 68,500 |
| October 2022 | 60,500 | 67,000 |
| September 2022 | 58,000 | 63,200 |
| August 2022 | 60,000 | 64,800 |
| July 2022 | 60,000 | 65,000 |
| June 2022 | 65,200 | 68,500 |
| May 2022 | 63,400 | 69,500 |
| April 2022 | 68,800 | 75,200 |
Trend of Silver Rate in Kolkata for February 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| February 1 Rate | Rs.74800per kg |
| February 28 Rate | Rs.69200per kg |
| Highest Rate in February | Rs.77300 per kg on 2 February |
| Lowest Rate in February | Rs.69000 per kg on 27 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -8.09% |
January 2023 Silver Rate in Kolkata(rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| January 1 Rate | Rs.74500per kg |
| January 31 Rate | Rs.74300per kg |
| Highest Rate in January | Rs.75800 per kg on 16 January and 17 January |
| Lowest Rate in January | Rs.73500 per kg on 6 January and 19 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.26% |
December 2022 Silver Rate in Kolkata(rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| December 1 Rate | Rs.69800 per kg |
| December 31 Rate | Rs.74300 per kg |
| Highest Rate in December | Rs.74700 per kg on 21 December and 22 December |
| Lowest Rate in December | Rs.69800 per kg on 1 December |
| Overall Monthly Performance | Incline |
| Percentage Change | 6.05% |
November 2022 Silver Rate in Kolkata(rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| November 1 Rate | Rs.63,700 per kg |
| November 30 Rate | Rs.68,000 per kg |
| Highest Rate in November | Rs.68,500 per kg on 15 November |
| Lowest Rate in November | Rs.63,700 per kg on 1 November |
| Overall Monthly Performance | Incline |
| Percentage Change | 6.75% |
Silver as an Investment in Kolkata
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Jewelry and Silverware – Jewelry has been the preferred choice of investment among most households in Kolkata and accounts for a major chunk of all silver utilization. While investing in jewelry and silverware is considered a safe option what one fails to realize is that they get less value for their money. Wastage and making charges increase the money paid to purchase silver items.
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Silver Coins – Silver coins can be purchased according to weight and coins offered by certain countries are considered legal tender, which can be used as currency. Investors can opt for coins by weight, ranging from 1 g to 10g, depending on their needs. These coins can be readily sold or melted, offering cash when needed.
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Silver Bars – Large investors and industrialists prefer to invest in silver bars. These bars can weigh around 1 kg and are an excellent source of investment for those who wish to store large quantities of silver. These bars can be molded into jewelry or could be used for manufacturing purposes.
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Commodity Futures Exchange – Commodity Future Exchanges can be a nice investment option for those who are looking to buy silver in bulk. Big buyers of silver can purchase it directly through commodity futures exchange, which generally deal in silver weighing more than several kilograms.
Factors Affecting Silver Rate in Kolkata
Silver is prized in Kolkata for many reasons which determines the silver price in the city. Silver is worn as jewelry and given as gifts. It is also used for many different industrial purposes. Apart from this, there are also many external factors that affect the silver price in Kolkata some of which are given below:
- Demand for silver among industries ranging from batteries to LED lights and services such as dentistry
- Dollar rates can affect silver rates in Kolkata
- Crude oil prices as plummeting crude oil prices can lead to a greater demand for safe-haven investments such as silver, which would increase silver prices in Kolkata
- Geopolitical factors, such as the Covid-19 pandemic, can result in a dip or rise in price of silver in Kolkata
Also Check Silver Price in NearBy Cities of Kolkata
| Silver Rate In Siliguri | Silver Rate In Ranchi | Silver Rate In Jamshedpur |
| Silver Rate In Guwahati | Silver Rate In Raipur | Gold Rate in India |
| Silver Rate In Patna | Silver Rate In Bhubaneswar | Gold Rate in Kolkata |
Places to Buy Silver in Kolkata
Buying silver in Kolkata is not a hard task and one can purchase it at any of the major jewelers across town. Some of the bigger jewelers who offer good rates on silver are Nisso’s, Jalan Debi Dutt Jewellers, Saraf Jewellers, Senco Jewellery Palace and Balajis. Some of the bigger banks also sell silver which can be purchased from specified branches. Smaller jewelers and pawn shops which sell silver can be found across the city, catering to the needs of individual clients.
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FAQs On Silver rate in Kolkata
- How is the silver purity connected to silver rate in Kolkata?
- What is the standard silver purity in Kolkata?
- Where will I get the best silver rate in Kolkata?
- Where can I buy silver bars in Kolkata?
- Which has a lower silver price in Kolkata – silver coins or bullion bars?
- Will the silver price keep changing in Kolkata?
Yes, the silver price in Kolkata will keep changing. The silver prices change on the basis of the fluctuations in the market, government tariffs and duties, etc.
- What are the options through which I can invest in Silver?
You can invest in silver through Silver ETFs of the US Market, by purchasing silver jewellery, silver coins, antiques, through Silver Futures Trading, and so on.
- What are the factors that determine the price of silver in Kolkata?
The price of silver is dependent on a number of factors such as the demand and supply of the precious metal, rates of interest, international political conditions, condition of the stock markets, government policies, and so on.
- Where can I buy silver in Kolkata?
You can visit any reputed jewellery store to purchase silver in Kolkata. Silver can be purchased in the form of bars, coins, and jewellery. In addition to this, you can also consider visiting the official websites of branded and trusted jewellers and make online purchases for silver.
- What is the best time to purchase silver in Kolkata?
There is no pre-determined timeframe for buying silver. You can invest in precious white metal at any time of the year. However, keeping an eye on the market trends and buying when the silver prices are relatively low can be beneficial to you.
Silver price will always be more for silver of high quality and purity.
The standard silver purity in Kolkata is 94.79% with that being the percentage of pure silver and the rest being other metals such as copper.
It is best to buy silver from reputed or leading jewelers in Kolkata.
You can buy silver bars for investment in Kolkata from leading banks.
Silver bullion bars have a lower price than silver coins in Kolkata as it is less expensive to produce.