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Silver Price in Pondicherry
Pondicherry is a great market for silver, and its proximity to silver hubs such as Chennai and Bangalore have made it a go-to destination for people looking to buy precious metals including gold and silver. Silver rate in Pondicherry is therefore closely related to rates in the larger neighbors, however internal demand from the city also plays a role in local silver prices.
Silver in Pondicherry is viewed as an investment avenue which gives good returns and has a ready market at almost any time of the year. Silver is mostly purchased in its physical form such as jewelries, ornaments, artefacts, gift items, silverware and other utensils. Silver is also available as a tradable commodity in the national markets NCDEX and MCX, which are easily accessible to residents of this coastal town.
Silver as an Investment in Pondicherry
Residents in Pondicherry have shown a good appetite for silver through the years. The city has a number of stores and dealers selling silver in various forms. The population considers silver to be a safe bet in the short and long runs, as the metal offers a good resale value, as well as a wide range of quality and quantity options to choose from. This is a very useful metal that happens to provide a safe investment avenue also.
Physical silver: Physical silver includes products such as bars, bullions, coins, jewelries, silverware, artefacts, idols, household items and so on. These can be purchased from a range of stores and dealers spread across the city and offering customized products to customers. Among these, coins are also pretty popular with the local crowd due to the low prices they sell for and the easy liquidity they provide.
Commodity trade: Silver is also traded as a commodity in exchanges such as Multi Commodity Exchange (MCX) and National Commodities and Derivatives Exchange (NCDEX). These exchanges sell silver is base quantities of 1 kg and are open for new contracts for up to 6 months in a year. The exchanges provide flexibility in buying silver at market prices from any corner of the country.
Silver Rate in Pondicherry in May-June 2015
Silver rate in Pondicherry during the months of May and June in 2015 has seen a general downward slide. Prices, which were at a high of Rs.39,841 on 19th May have continued to drop till Rs.38,106 till the end of the month. Price per kg of silver on 2nd June was Rs.38,435, which then again went into a downward spiral to close at Rs.36,720 on 17th June.
Where to Buy Silver in Pondicherry from?
Major sellers in the city include Sri Lakshmi Jewellery, Lakshmi Silvers, Ram Thanganagai Maligai, Lalitha Jewellery, Muthu Gold House etc. Some bullion dealers are also there in the city who provide bars and ingots of silver of varying quantities and purity. In general, silver of 999 purity is popular among the residents of Pondicherry.
Also Check Silver Price in NearBy Cities of Pondicherry
|Silver Rate in Chennai||Silver Rate in Bangalore||Silver Rate in Coimbatore|
|Silver Rate in Madurai||Silver Rate in Visakhapatnam||Silver Rate in Trichy|
|Also Know: Gold Rate in Pondicherry|
Read more on Silver
- About Silver Mining
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Silver Jewelry
- Need for Silver as an Industrial Commodity
News About Gold Rate in Pondicherry
Price of Gold and Silver Increase Significantly
Price of gold increased by Rs.50 mainly due to positive cues globally and also an increase in purchase by jewellers to meet the demand at the domestic spot market. Silver rose by Rs.250 to Rs.47,200 per kilogram due to an increase in offtake by coin makers and industrial units.
Traders believed the rise to be due to trend abroad with investors focusing on key jobs report in the US. Globally, price of gold increased by 0.2%. An interest rate cut by Bank of England to counter Brexit’s repercussions resulted in more demand for these metals. In addition to this, fresh purchasing by jewellers to meet demand at the domestic spot market supported this rise.
9th August 2016