Jhargram Silver Price Drops ₹100 to ₹2,71,900/KG on Aug 24

Silver prices in Jhargram, West Bengal, decreased by ₹100 per KG on August 24, 2026, settling at ₹2,71,900 per KG. This move followed the previous day’s rate of ₹2,72,000 per KG.

• Jhargram Silver Price (Aug 24, 2026): ₹2,71,900 per KG
• Previous Day’s Rate (Aug 23, 2026): ₹2,72,000 per KG
• Daily Decrease: ₹100 per KG

The August 2026 trend for silver in Jhargram has largely been upward, commencing at ₹2,46,900 per KG on August 1st and reaching ₹2,71,900 per KG by August 24th. In stark contrast, July 2026 witnessed a falling trend, starting at ₹2,56,900 per KG on July 9th and concluding at ₹2,39,900 per KG by July 31st.

Regional Price Dynamics

Within August, Jhargram’s silver market showed notable fluctuations. The highest rate recorded for the month was ₹2,72,100 per KG on August 22nd, while the lowest point hit ₹2,21,900 per KG on August 5th.

• Highest August 2026 Rate (Jhargram): ₹2,72,100 per KG (August 22nd)
• Lowest August 2026 Rate (Jhargram): ₹2,21,900 per KG (August 5th)

A broader comparison across India on August 24, 2026, revealed significant price disparities. Ahmedabad registered the highest silver price, while Yadgir in Karnataka recorded the lowest, mirroring state-level variations.

• Highest City Price (Aug 24, 2026): Ahmedabad at ₹2,88,900 per KG
• Lowest City Price (Aug 24, 2026): Yadgir at ₹2,71,900 per KG
• Highest State Rate (Aug 24, 2026): Gujarat at ₹2,88,900 per KG
• Lowest State Rate (Aug 24, 2026): Karnataka at ₹2,71,900 per KG

Silver Purity and Transaction Details

Understanding silver purity is crucial for investors and consumers. Different grades indicate varying silver content, impacting quality and price.

• Fine Silver: 99.9% pure
• Sterling Silver: 92.5% silver content
• Britannia Silver: 95.8% pure
• Coin Silver: 90% silver content

The final showroom price for silver encompasses several components beyond the base metal cost. This includes making charges and a mandated 3% Goods and Services Tax (GST).

For authenticity, BIS Hallmarking serves as a standard for verifying silver items, ensuring consumers receive the stated purity. Deductions are also applied for embedded stones in jewelry, adjusting the net silver weight.

Investment Avenues and Regulations

Beyond physical silver, investors can explore digital silver or opt for financial instruments such as Silver ETFs and Silver Fund of Funds. It is important to note that digital silver is not currently regulated by SEBI.

Regulatory guidelines for silver transactions in India include mandatory PAN details for purchases exceeding ₹2 lakh. Furthermore, KYC compliance is required for cash purchases above ₹10 lakh.

• GST on all silver acquisitions: 3%
• Capital gains tax: Applicable on sales
• PAN requirement: Purchases over ₹2 lakh
• KYC for cash purchases: Over ₹10 lakh

Global macroeconomic trends, geopolitical conditions, and currency fluctuations are key drivers influencing both gold and silver prices. Silver also benefits from substantial industrial demand across high-tech sectors due to its excellent electrical and thermal conductivity, solidifying its role as a safe-haven asset.