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Silver Rate in Karnataka
Silver is held in high regard across various sections in India owing to its store of value. The white precious metal, is considered a safe bet during periods of financial instability and inflation. Many consumers buy gift articles made of silver during the wedding season. The precious metal is believed to bring in prosperity and good luck. Not surprisingly, silver articles are widely used for the performance of several rituals.
Silver rate in Karnataka depends on a wide range of national and international factors. Silver is viewed as a traditional investment used in the form of trendy gifts during festivals, weddings, temple jewellery besides any other auspicious occasion. The white precious metal is bought by people across different age groups for a variety of uses.
- Also Know: Gold Rate In Karnataka
Details of Silver Price in Karnataka (1 Kg) - Till December 2015
The price of 1 kg of silver is pegged at Rs.33556 (as of December 17th, 2015). The price of the yellow precious metal has been on the downward slide since the start of 2015 when 1 kg of silver was pegged at Rs.40090. In the following month of February, the price of silver by -3.4% to Rs.38700. The months of March saw the price of the precious metal marginally rising by 0.4% to Rs.38880 but marginally fell by -1.4% to Rs.38301 in April. The month of May witnessed a rise in the price of the precious metal by 5.8% to Rs.40530. However, the mini rally did not continue in the following months with the precious metal losing gains in June and July at Rs.38088 and Rs.36158 respectively. The downward trend continued in August when the price of silver fell by 0.4% to Rs.36010. The price of silver continued to plummet in the months of September and October at Rs.35487 and Rs.34576 respectively. 1 kg of silver was pegged at Rs.34100 towards the end of November.
Silver as an investment in Karnataka
Silver is an accessible precious metal which can be an effective hedge against inflation in the long term. Sterling grade or grade 925 consisting of 92.5% silver and 7.5% copper are the most common forms of investment. Sterling jewellery is sold in the form of rings and necklaces.
Physical silver: Silver coins and bars are widely bought in Karnataka. Customers can buy silver bars of various denominations from Metals and Minerals Trading Corporation of India (MMTC) and banks. Silver coins are more affordable compared to gold and therefore, are more popular forms of investment. Silverware, artefacts and intricate jewellery including trendy customised pieces are popular.
Silver contracts: Customers can trade in silver futures on MCX and NCDEX. Silver Mini (SILVERM) and SILVER 1000 are traded in units of 5 kg. SILVERHEDG is traded in units of 30 kg in NCDEX. Many customers invest in futures owing to its transparent pricing.
Also Check Silver Price in NearBy Cities of Karnataka
|Silver Rate in Bangalore||Silver Rate in Mysore||Silver Rate in Mangalore|