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Silver rate in Chhattisgarh
Silver is viewed more as an industrial metal than a precious metal across the world. However, in India, silver is viewed both as an industrial and precious metal. Both physical holders and investors are attracted to silver as a long term investment. The demand for silver as an investment especially silver bars rise amid tough regulations on the yellow metal.
Silver rate in Chhattisgarh is in line with national and global demand. Silver in Chhattisgarh is used in many domains such as jewellery, investment and decor. However, demand for the white precious metal in Chhattisgarh is, by and large, determined by its volatility and pricing. Silver is viewed as a valuable asset which offers adequate protection against rising prices and thereby, a hedge against overall inflation.
- Also Know: Gold Rate In Chhattisgarh
Details of Silver Price in Chhattisgarh (1 Kg) - Till November 2015
Silver rates in Chhattisgarh may vary depending on various local, national and international factors. 1 kg of silver in Chhattisgarh is pegged at Rs.33,900. The price of the white precious metal has been on a downward trajectory since January this year when it was pegged at Rs.40252 but fell by -4.3% to Rs.38518 in February. The slide continued in the following months of March and April at Rs.38317 and Rs.38301 respectively. The price of silver, however, rose by 5.6% to Rs.40484 on May 18th before plummeting by -5% to Rs.38433 towards the end of the same month. The price of silver continued to plummet in the following months of June and July barring minor fluctuations until the price tumbled to Rs.37955. The price of silver further fell by -5.07% to Rs.36030 in August. Silver rates in Chhattisgarh fell by -1.8% to Rs.35367 in September and by -2.3% to Rs.34522 in October. The price of 1 kg of silver hovered around Rs.34096 in November.
Silver as an investment
Silver is not only a monetary reserve on a global basis, but also a portfolio diversifier for an investor. For many consumers in Chhattisgarh, silver is one of the most conventional forms of investment from silver jewellery such as anklets to traditional jewellery and silverware. Not surprisingly, silver articles are widely in demand during the festive season.
Physical silver: Silver is valued in Chhattisgarh as an attractive physical investment. While silver coins are more popular, silver bars (1 kg) are gaining increasing popularity owing to their small surcharge. Intricate silver jewellery is also widely available with hallmark certifications.
Silver contracts: Silver is traded in Multi Commodity Exchange, NSEL (National Spot Exchange) and NCDEX (National Commodity & Derivatives Exchange). MCX offers highly liquid and deliverable contracts on widely accepted silver bars. Customers can choose from Silver (30 kgs), Silver Micro (1kg), Silver Mini (5 kgs) and Silver 1000 (1kg).
- Also Check: Silver Rate in Raipur
Read more on Silver
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- How To Buy Silver Bullions?
- Know About Silver Jewelry
- Global Demand And Silver Rates In India
- What Are Silver Futures?