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Today’s silver rate across all major cities in India
11 Dec 2023
( Per Gram )
Silver Rates In Meghalaya for Last 90 Days
Trend of Silver Rate in Meghalaya for November 2023 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Meghalaya for October 2023 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Meghalaya for September 2023 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Meghalaya for August 2023 (Rates per gram for 1Gram / 1Kg Silver)
Silver is known as 'Poor Man's Gold.' It has a purchasing status equal to gold under desirable conditions. In India, women have shown their preference for silver jewellery. In every Indian home, silver puja articles have always been given a special spot. In recent years, silver gifts have found a role in 'Corporate Gifting' because of their affordability and availability.
Also in many industries, silver is a primary component. It is used in the production of the most common electronic devices such as cell phones and tablets. Silver is also a key ingredient used in the manufacture of solar photovoltaic cells used by the automotive and solar panels industry.
Indian silver prices are highly dependent on foreign prices, which tend to fluctuate dramatically on a regular basis. The value of the US dollar vs. the Indian rupee is also a contingent matter.
India’s major silver source is through imports, though we have a few silver mines in Rajasthan and Jharkhand. Silver is derived as a by-product while extraction of lead, zinc, copper and gold ores.
Mexico ranks number one in silver production in the world, followed by Peru, Australia, China, Chile and a few more. Since the late 1970s, silver production has outpaced demand, resulting in rising silver prices. In India, as silver demand is primarily met through imports, global demand-supply factors influence its price greatly. Processes are put in place to increase silver and gold recovery during copper extraction.
Meghalaya is one of North Eastern India's most beautiful states. The state has a quiet and serene environment and has a variety of tribes, including Garo, Khasi and Jaintia, to be identified.
They adorn themselves with beautifully crafted jewellery made of gold and silver. Their exquisitely crafted ‘Pansngiat’, a silver crown, is an amazing piece of jewellery. Females also wear other jewellery pieces like earrings, necklaces, bangles and anklets, that are designed in gold and silver.
The jewellery shops in Meghalaya are many. In almost every jewellery store here, silver jewellery and household pieces are readily available. Men and women in Meghalaya use traditional silver jewellery. Children are decorated with silver gems such as anklets, bracelets, and earrings in particular.
Silver is relatively cheaper and easily available. Silver jewels are very inexpensive and not so lavish as gold or platinum. They come in many attractive designs and are easy to create. Because of their affordability, people prefer silver on many of their jewellery items.
The downside to purchasing silver jewellery is that your old silver jewellery has a high price and a very poor selling cost. This results in a big loss, whether your old silver jewels or pieces are being used or sold.
Silver is also known as a lovely gift. Indians exchange gifts for special occasions in their lives in particular. When it comes to birthdays, wedding celebrations, house-warming functions, gatherings, corporate presents, and many more, silver coins are among the most common choices of gifts for all. Silver coins, like silver jewellery or other items, are also readily available. You can buy it from any of the jewellery stores. Certified and verified silver coins from post offices and banks can also be purchased.
Although Silver Coins is an appealing choice for presents, when you go to resell them, they are not useful either. Some amounts are deducted as excess and the items you want to buy are always charged a premium. Silver coins are thus not a very attractive choice for many.
Trading for Silver Futures is a very good business investment opportunity. Meghalaya residents will invest through the MCX network in the Silver Futures exchange. The Multi Commodity Exchange of India (MCX) is a cutting-edge commodity futures exchange that enables the online trading of commodity derivative exchanges as well as offering an opportunity to analyse and control the market.
A Silver Futures is a legally binding deal to supply silver at a negotiated future price. The number, quality, period and place of distribution are decided in a potential trade deal, only the price varies. Usually, futures contracts shall be exchanged on an exchange where a party consents to acquire and take delivery at a certain date of a certain amount of shares or product.
You must take the help of a broker who is a stock exchange member to deal in silver futures. Even smaller investors will have access to silver future portfolios. Since they are available in different sizes including 30 kg, 5 kg and 1 kg, smaller investments are simple to make. Until the expiry day, you don't have to keep it. When you figure out that the price of silver isn't going to your advantage, you can call it off some time before that.
Silver futures trading has many advantages. Firstly, it is an important protective measure against other investments. Since silver is normally heading to equity in the opposite direction, your capital losses may be compensated by future income. Without distribution of the commodity, you will benefit from price fluctuations in silver and think of safety and purity. Since these futures are traded actively, liquidity does not have to be thought of.
The drawback is that low margins will overextend you and lead to losing a lot. The swings in silver futures can also be hard to deal with in order to find the right time to book profits or reduce losses.
Since no Silver ETFs are listed on NSEs, the other way of investing in Silver ETFs is by investing in Silver ETFs in the US market, through ICICI Direct, Kotak and HDFC's international trading accounts. Please note that RBI allows up to $200,000 in foreign investment in shares and bonds each year. However, you need to take care of the nitty gritty of taxes and foreign exchange volatility as well. This is the key reason that Indians tend to invest in Indian stock markets rather than international ones. Brokerage and investment costs are also much higher when investing in the US stock market than the Indian one.
Once you have decided to buy silver or invest in silver, it is prudent to spend some time in researching the market. It will help you learn about the recent price trend of Silver to make an informed decision. Since the silver rate is highly volatile, one needs to keep a close watch to invest on the right day. Here are some pointers to help you make a decision while investing in silver;
Study the general pattern of silver prices: Silver prices need constant check, though they are largely resilient to market fluctuations. You should keep tracking it if they are for investment purposes. This will help you make the right and most educated decision whether to buy or sell. You can use the CreditMantri Silver Rate page to check the Meghalaya Live Silver Rate and make data-driven decisions about your Silver Investment based on the most up-to - date information available.
Consider exactly what sort of silver you want to acquire; Silver, like gold, comes in various types, like bars, coins, and jewellery. Every type does have its own distinct merits and disadvantages. If your intention is to sell the silver at a later date, then jewellery may not be the best option and you might consider other forms of silver investment, such as coins or bars. Decide on what sort of investment you are trying to take, so that you have a clearer idea of the pluses and minuses.
Certification Check: The Bureau of Indian Standards (BIS) launched silver markings in 2005. There are several grades of silver purity, 9999 being of the highest fineness. The silver and silver alloys are stamped with the regular markings of the BIS-Recognized Testing and Hallmarking Centres. Silver bears 5 marks, including
Online Purchase Options: There are a number of online retailers currently selling silver of varying purities. Although it can be easy to purchase online, you need to be very careful about purchasing only from trusted licenced vendors as there is significant scope for adulteration of silver and fraud.
1. How to check Silver Live Rate on the CreditMantri website?
You can logon to CreditMantri’s Silver Rate page to check the Meghalaya Live Silver Rate and make an informed decision about your Silver Investment based on the most up to date information available. Click on Community, select Resources and then go to Silver Rate. Here, you can find the state wise silver rates for the day.
2. How can I invest in Silver ETFs?
Silver ETFs, of the US market, are available for purchase on ICICI Direct, Kotak Mahindra and HDFCs International Trading accounts.
3. What is the minimum purchase amount for silver futures on the MCX?
One can trade a minimum of 100 gms of silver on the MCX.
4. What are the disadvantages of investing in silver jewellery?
The major disadvantage of purchasing silver jewellery is that a considerable amount of money is wasted when you exchange or resell the silver jewellery items. Also, you have to pay making charges and wastage for the new items you are going to purchase.
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