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Silver Price in the Most Popular Indian Cities
Silver Rate in Odisha
Odisha, the temple state of India is known for its culture and history, occupying an important place in the country. Home to the ancient Kalinga kingdom, silver has been an intrinsic component of the state, with it being used for trade, commerce and industrial purposes. Odisha has been on the road to progression, with new cities and job opportunities meaning that people have more income, income which can be used to invest in silver. Silver prices in Odisha depend on international trends, primarily owing to the fact that most of the silver consumed in the state is imported.
- Also Know: Gold Rate In Odisha
Silver as an investment
Silver is a cost effective and multi utility metal, offering a host of benefits to owners. Given the risk factors associated with most investments, individuals always have the thought of losing their hard earned money at the back of their mind. Silver is generally risk free, with an insatiable global demand heralding good news for investors. Residents of Odisha view silver as auspicious, making it an integral part of all celebrations in the state. Silver in its physical form and silver contracts are the popular modes of investment in Odisha.
Silver contracts and futures – Silver futures and contracts are relatively new investment options, with people yet to open up to them wholeheartedly. Investors who are aware of markets and their functioning could choose this, with a great opportunity to make profits. Typically, purchasing silver through markets is limited to people who wish to buy silver in bulk, not for those who want minute quantities of it. One can participate in market trade through the National Commodity Exchange, the Multi Commodity Exchange and the National Commodity and Derivatives Exchange.
Physical silver – For millions across Odisha, purchasing silver in the form of coins or jewellery continues to be their only way of owning this precious metal. Jewellery and coins can be purchased in different weights, ensuring that one can find something for every budget. Silver coins can be purchased from banks and jewellers, with the ones from banks costing more on account of quality checks and assurance. Jewellery is perhaps the most preferred investment option for people, with it being purchased across the year. Silver utensils, statues, chains, amulets, rings, etc. are some of the popular products available.
- Also Check: Silver Rate in Bhubaneswar
FAQs on Silver Rate in Odisha
- How do I choose to buy silver coins or silver bars?
- Why do people prefer silver over gold in a lot of markets?
- What is the approximate mining cost for silver?
- What is the Silver ETF?
- How can I know that my silver is pure?
Depending on several factors such as storage capacity and resale options, you could opt for silver coins or bars.
Silver is generally a cheaper method of investment when you compare it with gold. So, it can be bought in bulk also.
The mining cost of silver refers to the cost to get the silver from the mines. This is a primary factor that affects the final price of silver.
Silver ETF is the Silver Exchange Traded Fund. If you want to trade on silver ETF, you should register to the US Silver ETF.
You can get your silver tested for purity. This can be done via dealers and sellers who are authorised and they will check the marking on silver. Other than this, you can do a few tests like magnet test, stink test, and ice test.