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Silver Rate in Telangana
Telangana might be the newest state in the country but it has a long cultural and historical past which is hard to match. The state has a legacy of being ruled by some of the richest kingdoms of the country, where silver was used for commerce, trade and industry, making the state one of the biggest consumers of silver in the past. Today, Telangana is home to major towns and cities which account for a decent portion of the silver consumed in the country. Silver prices in Telangana are closely linked to international prices, given the fact that most of the silver is imported. The cost of silver on a particular day could vary, with a number of factors impacting the amount one pays for it.
- Also Know: Gold Rate In Telangana
Details of Silver Price in Telangana (1 Kg) - Till December 2015
Silver rates in Telangana have been on a roller coaster ride over the last year, with prices shooting up in May and dropping in March, July-August and December. Purchasing one kg of silver in Telangana today (December 22, 2015) would set you back by Rs 35,984. Current prices are on an upward trend, with the cost remaining under the Rs 40,000 mark per kg for most of the year. Prices peaked in May, touching Rs 43,500 per kg, and crashed to Rs 35,250 per kg in March, Rs 35,800 per kg in August and Rs 35,400 per kg in December, making it a good year for people to purchase this white metal.
Silver as an investment
Physical silver – Physical silver has been around for centuries in Telangana, with silver jewellery, coins and bars being used widely. Jewellery continues to be the most popular form of silver investment in the state, with numerous designs and styles catering to different requirements. Intricate craftwork make these jewellery pieces popular across the globe, which mean that the demand for these would never die. Wastage and making charges could dilute a portion of the investment but buying silver jewellery could be smart if one intends to use it as an heirloom. Silver coins and bars, on the other hand, have no wastage charge and can be purchased purely as an investment. Banks and jewellers across Telangana cater to the needs of silver aficionados, with products for different budgets available.
Silver contracts – Participating in silver trade through the market is new to most people in the country, with only those who are aware about market functioning opting for them in most cases. The National Commodity and Derivatives Exchange (NCDEX), Multi Commodity Exchange and National Multi Commodity Exchange offer platforms for enthusiasts to indulge in silver trade.
- Also Check: Silver Rate in Hyderabad