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Today’s silver rate across all major cities in India
26 Jun 2022
( Per Gram )
Silver Rates In Puducherry for Last 90 Days
Trend of Silver Rate in Puducherry for June 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Puducherry for May 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Puducherry for April 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Puducherry for March 2022 (Rates per gram for 1Gram / 1Kg Silver)
Trend of Silver Rate in Puducherry for February 2022 (Rates per gram for 1Gram / 1Kg Silver)
Silver has traditionally held a place of importance in the Indian market. Silver and gold are not only purchased or used for ritualistic purposes but also for ornamental purposes and as gifts to friends and family. Silver is thus considered as a very important commodity that can be used as an investment tool other than that for personal use.
The various details associated with silver like the rate of silver in Puducherry as well as factors associated with purchase of silver or affecting the prices of silver are discussed in depth on this page.
The rates of silver are affected by many factors and change or fluctuate on a daily basis. The prices of silver have to be thus tracked on a daily basis in order to get the best prices of silver and to know the most appropriate time to invest in silver.
Silver rates are measured based on its weight.
Silver prices in Puducherry are affected by the neighboring megacities of Bengaluru and Chennai. The local demand for silver in Puducherry is also significant. These factors drive the prices of silver on the higher side coupled with many other factors.
Puducherry has many sources where the customers can purchase their silver. Such purchase can be for personal use or as an investment. The most commonly available forms of silver that can be acquired by customers are mentioned below.
When silver is purchased with the intent of investment, it is purchased generally in bulk quantities and in the form of coins or bars and bullions. The available weights and lot sizes in case of coins start from 1 gram and range up to 1 kg. In case of bars, the lot sizes start from 1 kg to 10 kg bars.
Silver can also be traded as a commodity on the MCX and NCDEX. Customers can enter into or undertake future contacts in the lot sizes of 1 kg for such trade. These contracts unlike spot contracts cannot be delivered immediately or instantly upon sale of silver.
Purity of silver is one of the most crucial factors to be considered while purchasing silver. Purity of silver ensures that the customers get maximum returns on the silver purchased and can be easily traded as well. There are various marks placed on the metal to authenticate it. These markings are mentioned below.
Customers can purchase genuine and authenticated silver with all the essential markings through any of the following authorized sources.
The various grades of purity that can be associated with silver are tabled below.
There are various factors that have to be considered while purchasing silver in order to ensure that the customers get the best product at the best prices and that they are not duped of their hard earned money.
Some of these factors are mentioned below.
Trend of silver prices
Customers have to observe the current trend of silver prices before making the purchase of the metal. This is to ensure that they get the best price and buy silver at the correct time. If the price is on a decreasing trend they can hold off the selling of silver as they may incur a loss but buying at such time is a good option as they can get better returns at the time of increasing trend in the prices of silver.
Source of purchase
The source of purchasing silver has to be genuine so as to ensure that the customers get the authentic product with certified purity. The trusted sources of such authentic and certified silver are the banks, jewelers, dealers, etc. E-commerce portals are also another source of purchasing silver but the customers have to beware of fraudulent websites and fake silver or silver of lesser purity than what the customer has paid for.
Certification of silver
Customers have to ensure proper certification and markings on the metal in order to ensure that the price for the silver is justified and the product received by them is not fake. The necessary markings that have to be present on any silver coins or silver in any other form are mentored above.
Purpose of purchase
The purpose of purchasing silver is another important factor that has to be considered by the customer. If silver is to be bought for personal use, the quantities can be in retail as well as in any form as desired by them. When silver is purchased for investment, it is preferred to be in the form of coins or bars and bullions to get maximum returns on investment.
1. What are the factors affecting silver prices?
The various factors affecting silver prices are mentioned below
2. What is the highest grade of silver that can be available to the customers?
The highest grade of silver that can be available to the customers is of 999.9 fineness. It means that the silver is 99.9% pure and in the purest forms available.
3. What is the best form of silver for investment purposes?
The best form of silver available for investment purposes is in the form of coins or bars or bullions as they have the maximum return on investment value. There is no unnecessary dilution of value on account of embedded stones or other metals or marking or melting costs associated with it.
4. How can a person trade in silver?
A person can trade in silver through the futures market or commodity market. Customers can trade silver through an ETF in the US market or MCX and NCDEX. The contract sizes are available in the lots of 1 kg silver and such contracts are not spot contracts.
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