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Silver Rate In Kozhikode
Kozhikode occupies an important position in Indian history, with it being the gateway for Vasco Da Gama to enter Indian shores. The city, formerly known as Calicut has been a major centre for trade and commerce, with many foreign powers trying to establish base here. Healthy trade and abundant resources contributed to it becoming a rich city, with it holding on to its past heritage even today. Modern Kozhikode is known for its quality of living, with residents known to be prosperous and wealthy. This wealth has resulted in a love for precious metals, including silver, which was used as currency during its trading era.
Silver rates in Kozhikode closely reflect international trends, primarily due to the fact that a majority of the silver used here is imported from other places.
Silver As An Investment
Silver might not be considered as important as gold, but it has been a crucial ingredient in our life for centuries, with its versatility and utility helping it hold its own. A safe and affordable investment option, silver provides an opportunity to people from the middle class and lower income groups to own a precious metal. The demand for silver from various industries has resulted in it being in demand, making investments in silver highly liquid and sensible. Today, silver finds a place in the investment portfolio of millions, thanks to people looking for diverse modes of investment.
Silver contracts and purchasing silver in its physical form are two of the popular investment modes for silver in India.
Silver contracts – The National Multi Commodity Exchange, the National Commodity and Derivatives Exchange and the Multi Commodity Exchange offer a platform for people to indulge in silver trade through contracts. This mode of investment is not extremely popular in Kozhikode and is limited to a certain section of the population. Indulging in silver trade through contracts typically revolves around purchasing huge quantities of silver, which could expose one to market risks. Individuals who have an idea about market functioning and those with a penchant for predicting markets can utilise this to their advantage.
Physical silver – Silver contracts and other forms of trade aren’t very popular in India, with a majority of the population choosing to invest in physical silver, be it through coins, bars, jewellery or utensils. Silver jewellery is an affordable option to those who cannot invest in gold, with a number of shops across the city offering products for every budget. Popular silver jewellery pieces include chains, rings, anklets, bracelets, etc. Individuals looking to buy silver as an investment can purchase pure silver coins or bars, which are available in different weight categories. Silver utensils are traditionally found in most local households, and are considered integral to the way of life here.
Silver Price In Kozhikode
The current price of silver is calculated after taking a number of factors into account, with the international prices having a major impact on the cost one pays in Kozhikode. The current cost of 1kg silver in the city is Rs 39,188 (as of March 2, 2016). According to recent trends, prices could increase in the future, making this the right time to purchase this versatile metal.
Also Check Silver Price in NearBy Cities of Kozhikode
|Silver Rate In Trivandrum||Silver Rate In Kochi||Silver Rate In Kannur|
|Silver Rate In Malappuram||Silver Rate In Salem||Silver Rate In Madurai|
|Also Know: Gold Rate In Kozhikode|
Read more on Silver
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- Are Long Term Silver Investments a Good Idea?
- How to Find Certified/Authentic Silver
- Silver – Poor Man’s Gold
- What are Silver Futures?