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Today’s silver rate across all major cities in India
20 Jan 2021
( Per Gram )
Silver Rates In Assam for Last 90 Days
Trend of Silver Rate in Assam for October 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for November 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for December 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for January 2021 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for September 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for August 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for July 2020 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Assam for June 2020 (Rates per gram for 1Gram / 1Kg Silver)
Silver and gold hold an important place in the cultural history of India. This is irrespective of any province or state in the country as these precious metals have a place in all traditions and customs across the country. Silver is also favoured as an option to gift at ceremonies or auspicious occasions.
Besides jewellery, customers also prefer silver and gold as tools of investment. The cost of silver is lower as compared to the cost of gold and hence it’s also known as “poor man’s gold”. This ensures that customers can make better investment and the only ancillary cost to such investment is the storage cost. The resale value of silver is also high as it is considered to be a steady investment and mostly risk free. There are many factors affecting the rates of silver in the country and outside.
Given below are the details related to the rates of silver in the state of Assam.
The silver rates are very dynamic in nature and are constantly changing. The rate of silver is based on various external factors.
The above rates as mentioned are ever changing based on multiple factors. Some of these factors are internal like the process of extracting or processing of the metal while there are also external factors that affect the prices of silver like the dollar fluctuations, demand and supply of the metal, logistics, etc. All these relevant factors are discussed below.
Demand for Silver
One of the main factors affecting the process of silver is the demand for the product. This demand for silver includes two types of demands namely, individual as well as commercial or industrial demand. Demand for silver is measured in all the available forms. The popular forms of silver are mentioned below
The demand for silver in retail form or at individual level is in smaller quantities. The demand for silver in case of commercial and industrial reasons is always in bulk.
Inflation rate is another reason that affects the silver prices. Inflation rate is in direct correlation to the prices of silver. An increase in inflation of a country results in a direct increase in the prices of silver. In the state of Assam, any fluctuations in the rate of inflation will result in the changes in silver rates.
Gold prices and silver prices have always followed a similar pattern or trend. The prices of gold often tend to impact the silver rates and pull them in the increasing or decreasing trend along with it. Gold and silver are the precious metals that are traded in the commodity market and have been on the increasing trend for many months.
Ancillary or Associated Costs
Ancillary costs or associated costs are the costs that are related or involved in extracting or processing the metal or refining it as well as storing it. Some of such costs are mining costs, import costs, storage costs, warehousing costs, marking costs, etc. These costs also have a direct correlation to the demand and supply factors of silver.
There are many external factors that influence the rates of silver. These rates affecting silver rate are multiple and some of the examples of such external factors are mentioned below
The latest factor to affect the rates of silver is the introduction of vaccines in the market for the current pandemic. The announcement of a working and valid vaccine for the COVID-19 pandemic has resulted in crashing of the silver rates in the market to a great extent.
Silver comes in many purity grades and the prices of silver is also determined on the basis of its purity. Silver purity is measured in percentage and the highest level of purity that is associated or allotted to silver is 99.9% or 9999 mark. It is usually combined with other metals like copper, nickel or any other alloy to ensure that silver does not deteriorate over time.
Buyers perform many tests to ensure that the silver purchased in any form is pure so they are not cheated or duped of the funds used to purchase such silver. Some of these tests are very basic and can get instant results or judgment on purity. The details of the same are mentioned below.
The ice test requires an ice cube to be placed on the metal to be tested. If the ice melts too fast, the silver is considered to be pure. In any other case, the metal is not pure.
Another test is the magnet test where the buyer will run a magnet over the metal. If the metal to be tested is attracted to the magnet, then the metal is not pure and has impurities or other metals in the mix.
The stink test of testing purity of silver involves the testing of the metal based on the odor of the metal. Silver has no odor so if the metal to be tested has any odor in it, such metal will not be considered to be pure.
Silver like gold has many markings on it that assure the buyers and sellers of its purity and its quality. While purchasing and selling silver it is recommended that only marked and certified silver be traded. This ensures that the customers get the value for the money paid and are not faced with any fraud.
In India, there are multiple markings placed on silver for this purpose. Following are the details of such markings.
In order to ensure that the silver bought is genuine and pure, apart from the above markings; customers are also advised to purchase silver from authorized sellers. These authorized merchants are mentioned below.
1. What are the factors to be accounted for while purchasing silver?
The various concerns to be accounted for while purchasing silver are mentioned below.
2. How to ensure that I get maximum return on silver purchased?
Silver Investment can be made in multiple forms like silver coins and silver bars and bullions. These forms provide maximum returns to the customer at the time of resale as there is no reduction in value on account of any other metal or making charges, etc.
3. What is the highest purity of silver?
The highest purity of silver that is available in the market is 9999 fineness. It certifies that the silver is the purest i.e., 99.9% pure.
4. What are the ways for a person to trade in silver?
Silver can be traded through the futures market or commodity market. In India there are no ETF markets so customers can trade silver through an ETF in the US market or MCX and NCDEX. On the MCX and NCDEX market silver can be traded in the contract sizes or lots of 1 kg silver and such contracts are not spot contracts.
5. What are the sources of purchasing silver?
Customers can purchase silver through many sources like certified e-commerce sellers, jewelers, private dealers, authorized sellers or even through banks.
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