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Today’s silver rate across all major cities in India
21 May 2022
( Per Gram )
Silver Rates In Gujarat for Last 90 Days
Trend of Silver Rate in Gujarat for May 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Gujarat for April 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Gujarat for March 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Gujarat for February 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Gujarat for January 2022 (Rates per gram for 1Gram / 1Kg Silver)
Silver has been important in the cultural history of India for centuries. Silver and gold have been traditionally considered as precious metals in our culture and have been also used in traditional ceremonies as well. Silver has also been considered auspicious as a form of gifts and luxury item to be cherished by royalty as well as the common public at large.
Silver is also considered as a lucrative and feasible option for investment or planning for long term expenses. There are many ways to invest in silver. Investment in silver can be in the form of jewellery, household items, coins, bullion bars or silver bars.
Customers can invest in silver by purchasing it at the current rates or prevailing rates. Silver rates change on a day to day basis based on the global rates along with other domestic and local factors.
Investment in silver can be in many forms. The affordability of silver as compared to gold is one of the most attractive reasons for investment in silver. Customers can get silver in bulk quantities as well as in retail quantities. There are many certified jewelers and authorized sellers where customers can purchase and sell silver. There are many points to be considered while making an investment in silver. Investment in silver coins and bullions get the exact prevailing value of silver upon resale. In case a customer has invested in silver jewellery or silver household items, the resale value will be reduced by almost 15% of the prevailing rate. This is due to the fact that jewelers and authorized dealers will pay only for the value of silver. This reduced value of silver is on account of melting charge or making charge of the jewellery.
It is therefore advisable to invest in silver coins or bullions if silver is purchased as a mode of investment.
Like gold, silver also has various levels of variants of purity that determine its quality and price. Gold can be classified in purity of 18 carat, 22 carat or 24 carat purity. Silver can be found in various purity levels the highest of which is 9999.
When a customer goes to sell the silver jewellery owned by him/her, the seller will pay the price of the silver according to the purity and weight of the precious metal. Certified sellers and buyers of such metal and jewelers have special methods to measure or determine the purity of the metal and grade it accordingly.
Customers have the option to invest in silver in the form of silver bars and silver coins along with silver jewellery as well as silver household items like utensils or related to a place of worship.
Customers can purchase silver coins or bars of various weights or purity for investment purposes. Coins are available in the weights ranging from as low as 2 grams to as high as 1 kg. The various options that the customers can choose from are 2 gram, 5 gram, 10 gram, 15 gram, 25 gram, 40 gram, 50 gram, 100 gram, 200 gram, 500 gram and 1000 gram or 1 kg.
In the case of silver bars as well, customers get many options in weights and purity. These weight options range from 10 ounce to 1 kg. The purity of these bars range from 0.999 to 0.9999 which is the highest purity level of silver as mentioned above.
Customers can purchase silver coins or bars from authorized dealers or even from banks. However, it is to be noted that purchasing from a jeweler or a dealer is cheaper as compared to purchasing silver coins or bars from a bank.
The other option to purchase silver is through the futures exchange or silver Exchange Traded Funds (ETF). ETF is the platform to trade in silver like any other commodity. It is not available in the state of Gujarat. Customers can, however, choose to trade in an ETF in the US market. The prima facie condition for the same is to open an account and register with an ETF through a certified stock broker.
Futures exchange is the trading option for silver like any other commodity. However, the quantities of such trade are in bulk as compared to trading in other precious metals like gold. This platform is therefore used by serious traders and not by those who want to dabble in such trade without any expertise. There are many charges that are part of such trade like brokerage, stamp duty etc.
Customers need to remember a few points while purchasing or investing in silver. This will ensure that the customers get the best price and the correct weight according to their needs like for trading or for personal use. Some of such details are mentioned below.
1. Is the price of silver constant?
2. Where can a person purchase silver in Gujarat?
3. What are the various forms in which silver is available for investment?
4. What are some of the factors affecting silver prices in Gujarat?
5. What is the lowest weight of silver coins available for purchase in Gujarat?
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