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Silver Rate in Jammu and Kashmir
Jammu and Kashmir, the state which is known as “Heaven on Earth” might have had a tumultuous past, but recent times have seen the state develop and grow steadily. A laidback lifestyle and unique cultural identity have made it hold its own, enticing the whole world with its beauty. Silver is viewed as an intrinsic part of the lifestyle here, being used for multiple purposes, from utensils to adornments. Given that silver is not produced here, J&K depends on silver imported from different parts of the world to meet local demands. Silver prices in the state thereby depend on multiple factors, changing on a daily basis.
- Also Know: Gold Rate In Jammu And Kashmir
Details of Silver Price in Jammu and Kashmir (1 Kg) - Till December 2015
Individuals who wish to purchase silver in Jammu and Kashmir can do so by weight, with an option to buy coins weighing 1 gram onwards or bars, which can weigh either 500g or 1kg. The cost of 1 kg silver in the state is Rs 36,244 (as of December 18, 2015). The current price is on the back of a slight hike, jumping by almost Rs 900 over the last two days. The year, on the whole has been good for silver aficionados, as prices stayed around the Rs 36,000 mark for a kg of silver. Prices peaked in May, touching highs of Rs 43,000, whereas March, July and December witnessed a drop in rates.
Silver as an investment
Silver has been used for centuries, being passed down from generation to generation in Jammu and Kashmir. The affordability of silver makes it ideal for individuals who are just beginning their investment journey, providing them an excellent opportunity to invest in a time tested metal. A high demand coupled with limited resources make silver a smart investment, with its versatility ensuring there are always buyers for it.
Physical Silver – Silver in the form of jewellery, coins, bars, utensils, statues, etc. are some of the popular artefacts in Jammu and Kashmir. These can be purchased at jewellers across the state and serve dual purposes, acting as a utility element and as an investment. Silver jewellery is often not ideal, if viewed only from the investment purpose, given the fact that there are a lot of making and wastage charges involved. Coins can be purchased from banks and jewellers, with the ones purchased from banks coming with quality assurance and purity certificates, making them more expensive. These artefacts can be pledged or sold for immediate cash, making them ideal during emergencies.
Silver Contracts – New to most people in the state, silver contracts and futures are modern ways to invest in this precious metal. The National Multi Commodity Exchange, the Multi Commodity Exchange and the National Commodity and Derivatives Exchange offer platforms for people to participate in silver trade. This option to invest in silver comes with a certain element of risk attached and a good knowledge about how markets function can be a huge advantage.
- Also Check: Silver Rate In Srinagar