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Silver Rate in Assam
Assam, nestled in the foothills of Himalayas is known for a lot of things, its natural beauty, tea, forests, mountains, etc. This fast developing state has a diverse history, with it being linked to many kingdoms, where silver was the primary means of engaging in trade and business. Silver has been used in the state for centuries, having formed an intrinsic part of family culture here. Today, silver is primarily used during functions and ceremonies, with it being considered auspicious by many. This has ensured a steady demand for this metal, irrespective of silver prices in the state. The cost of silver in Assam on a particular day depends on multiple factors, with prices varying according to international trends.
- Also Know: Gold Rate In Assam
Details of Silver Price in Assam (1 Kg) - Till December 2015
Most of the silver purchased in India and Assam is imported, which means that the price for silver on a given day depends on the international rate of silver. Buying 1 kg silver in Assam would set you back by Rs 36,244 (as of December 18, 2015). Prices of silver in the state have been on a tumultuous ride, peaking in May at Rs 43,300 per kg and dropping to as low as Rs 35,300 per kg in March, Rs 35,750 per kg in august and Rs 35,500 per kg in December. The price of silver is expected to change over the coming few days, primarily on account of the federal rate hike.
Silver as an investment
Silver is the second most used metal in the world, finding applications in multiple industries, making it a sound investment choice. Being a natural resource, there is limited supply of this precious metal and with demand increasing on a daily basis it becomes a boon for owners. In India, gold is beyond the budget of most households, which then start investing in silver, making it an integral component of most family heirlooms. Residents of Assam who wish to invest in silver can do so in two ways, either by participating in market trade through silver contracts or buying silver in its physical form directly.
Silver contracts – Silver contracts and futures are the latest means of investing in silver, with their trade restricted to the National Multi Commodity Exchange, the National Commodity and Derivatives Exchange (NCDEX) and the Multi Commodity Exchange (MCX). Such investments are yet to find favour among the major portion of the population, with only those aware of market functioning opting for them. Investing in silver through these means requires knowledge and it could be a fast way to enhance your profits.
Physical silver – Silver has been handed down from generation to generation and is considered a family heirloom. This emotional attachment has raised the value of silver in our hearts, and residents of Assam are known to purchase silver to continue this tradition. Silver jewellery, coins, bars and utensils are some of the popular modes of silver purchases. Coins and bars are typically more pure and are a smarter investment option compared to jewellery, which typically have a lot of wastage and making charges involved. Silver can be purchased from banks and jewellers across the state, with different shops catering to different budgetary requirements.
- Also Check: Silver Rate In Guwahati