Factors Affecting Silver Prices in Theni
The factors that influence the silver prices in Theni are listed below:
Silver is used in everyday items such as cell phones, solar panels, touch screens, RIFD chips where no other metal can replace it. The demand for silver is rising substantially due to the medical history.
Because Theni lacks major natural silver deposits, it imports a large portion of its silver needs. This indicates that import rates have an impact on the price of silver in India.
The gold rates are majorly impacted by the investment demand. While this may not be the same for silver, several investors view silver as a long-term investment because of rising demand and diminishing resources.
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