*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Silver Rates In Kannur
Silver is considered a safe haven during any crisis and currency devaluations. Many invest in the white precious metal to save their purchasing power during times of high inflation. Silver has a wide industrial application besides silverware fabrication and extensive use in decorative articles. Some of the important factors which affect silver rates crude oil prices, depreciating dollar, commodity prices and industrial demand among others.
Silver rates in Kannur (Kerala) are affected by the aforementioned factors. Silver is used in the form of silverware and gift articles in Kannur. Various items of jewellery such as necklaces and rings are widely sold. Owing to its wide variety of industrial uses, the demand for the white precious metal is on the rise. As a result, silver is considered a valuable investment.
Silver As An Investment In Kannur
Small investors in Kannur are more keen on silver than gold given that the former is more affordable compared to the latter. Most consumers in Kannur view silver as a safe form of investment owing to its intrinsic value. There are several major stores across Kannur which offer a wide range of coins, silverware and jewellery.
Physical silver: Silver is used for decorative items in Kannur. There are several prominent stores across Kannur which offer a wide range of designer silverware and jewellery. Many consumers in Kannur buy silver bars and coins which are considered the most conventional forms of investment. Silver is also widely sought in the form of intricate silverware in addition to various kinds of ornaments.
Silver contracts: Silver is traded in National Multi Commodity Exchange (NMCE) and Multi Commodity Exchange (MCX). The minimum contract traded (silver micro) is 1 kg. Customers have to bear various charges such as brokerage fees and stamp duty among others. Trading in silver futures depends on gold prices and industrial demand among many others.
Silver Price In Kannur
1 kg of silver is pegged at Rs.36,400 in Kannur district in Kerala as on March 1, 2016, a 5.9% increase from Rs.34343 in December 2015. The price of 1 kg of silver was pegged at Rs.40185 in January 2015. The rate of silver decreased by -3.5% and -5.1% in the following months of June and July respectively to Rs.36019. The price of 1 kg of silver was pegged at Rs.35978 in September 2015. The price of silver fell further to Rs.35,234 and Rs.34100 in the months of October and November 2015 respectively.
Also Check Silver Price in NearBy Cities of Kannur
|Silver Rate In Trivandrum||Silver Rate In Kochi||Silver Rate In Kozhikode|
|Silver Rate In Malappuram||Silver Rate In Salem||Silver Rate In Coimbatore|
|Also Know:Gold Rate In Kannur|
Read more on Silver
- Silver – Poor Man’s Gold
- Need for Silver as an Industrial Commodity
- How to Find Certified/Authentic Silver
- What is Spot Silver?
- Silver Bars and Silver Coins