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Silver Rate in Gujarat
Silver is the widely used by millions across the country for various purposes and in multiple forms. Silver has an intrinsic value and therefore, considered a safe haven investment. The price of silver depends on its demand and supply, oil prices, gold prices, inflation and industrial usage. Given that there are no Silver ETFs in India, many customers can choose to invest in US silver ETFs in addition to Milestone Bullion Series 1. Investors can trade in e-Silver courtesy National Spot Exchange Limited (NSEL).
Silver is widely sold in various forms across all major cities and towns in the state of Gujarat. Silver rate in Gujarat depends on various factors including its demand in terms of industrial usage and consumer electronics. Silver is preferred to gold during festive season in that silver is more affordable than gold and therefore, more accessible to the common man.
- Also Know: Gold Rate In Gujarat
Details of Silver Price in Gujarat (1 Kg) - Till December 2015
The price of 1 kg of silver is pegged at Rs.33,600 (as of December 17th, 2015). The price of the white precious metal has been on the decline since the start of the year barring minor rallies. The price of 1 kg of silver stood at Rs.40029 in the month of January but decreased by -4.2% to Rs.38402. The price of silver marginally rose by 1.5% to Rs.38,997 in the month of March but decreased by -3.3% to Rs.37675 in April. The price of silver marginally rose by 4.4% to Rs.39366 in May and reached a peak at Rs.40465 on 19th of May but plummeted towards the end of the same month by -5.2% to Rs.38321. The slide continued in the month of June at Rs.38120 and dropped by -5.1% to Rs.36169 in July. The price of silver continued to be on the downward slide in the following months of August and September at Rs.36010 and Rs.35813 respectively. The price of 1 kg of silver was pegged at Rs.34030 in the month of November 2015.
Silver as an investment in Gujarat
Many consumers in Gujarat prefer investing in silver coins and bars. Many can buy bullion from Metals and Minerals Trading Corporation of India (MMTC) and leading banks besides open market transactions. Given that silver is more affordable than the yellow metal, the many investors prefer investing in the former.
Physical silver: Sterling grade silver or grade 925 comprising 92.5% silver and 7.5% copper is viewed as a viable good form for investment. Silver is also bought in the form of trendy jewellery. Various form of gift artefacts are also sought by lakhs of customers. Silverware is also widely sought by many customers.
Silver contracts: Customers can trade in silver futures on MCX and NCDEX. In MCX, Silver Mini (SILVERM) and SILVER 1000 is traded in units of 5 kg (base value of 1 kg) while Silver Micro (SILVERMIC) is traded in units of 1 kg. SILVERHEDG is traded in units of 30 kg in NCDEX.
Also Check Silver Price in NearBy Cities of Gujarat
|Silver Rate in Ahmedabad||Silver Rate in Surat|