Silver Price/Rate in Tripura Today

FAQs on Silver Rate in Tripura

• Which factors are responsible for fluctuating silver prices in Tripura?

  The cost of the silver metal in the state of Tripura is affected by various factors such as inflation, the supply and demand for silver in the market, any new trade policy implemented by the Government of India, local policies, and the base rate of the white metal. 

• Which factors should be kept in mind while selling silver in Tripura?

  In the state of Tripura, silver exhibits a high degree of liquidity. Moreover, there are various jewelers and pawn shops within the urban area that facilitates the sale of silver at prevailing market rates. To secure the best price for the white metal, it is advisable to keep an eye on the current market rates and get quotations from multiple sources. It is also important to verify the weight of the silver item with a reputable jeweler.  

• How to purchase silver in Tripura?

  There are certain points that should be remembered before purchasing silver in Tripura, and those are research silver rates in the city to observe market trends; decide what to purchase before making investment; and check for the required certifications to ensure authenticity of the precious metal. 

• What is the certification that should be checked before purchasing silver in Tripura?

  The certifications that should be checked before purchasing silver in Tripura are Assay centre’s identification mark, jeweler’s or manufacturer’s identification mark, BIS mark, purity, and year of making. 

• How to buy silver bars in Tripura?

  Silver bars range between 500 grams to one kg and can be purchased from Silver Futures exchange and Silver ETF (Exchange Traded Fund). But at present there is no Silver ETF in Tripura with the closure of the National Spot Exchange. 

• How to invest in Silver in Tripura?

  Silvers can be purchased in the form of coins, bars, and jewelry and the traditional way of investing in silver is buying jewelry, silver coins, and silver household items. 

• What are the impacts of GST on silver rate?

  The market is sensitive to the application of GST in its operations in the acquisition of raw materials such as silver and gold, processing of products, and pricing. The GST Council has levied GST of 3.00% on silver and gold and its previous taxation level was 2.00%, while GST of 5.00% levied on jewelry making charges by the government. 

• What are the points that should be remembered before purchasing silver in Tripura?

  Some of the vital points that should be remembered before purchasing silver in Tripura are quality of silver to ensure that the is hallmarked by the Bureau of Indian Standards (BIS); intricate details and craftsmanship of the silver piece; fair price for the piece without additional price; check for hallmarking for authenticity of the metal; return and exchange policy; purpose of purchase; and aftercare of the silver piece. 

• Are current silver rates uniform across all states in India?

  No, the silver rates are not uniform. Silver rates differ across various states due to the difference in import costs and taxes. 

• How can I distinguish between German silver from pure silver?

  German silver is composed of copper and brass and undergoes polishing with silver. It does not bear a BIS logo. 

• Does silver offer a hedge against inflation?

  Yes, the white metal has been a successful inflation hedge for years, like gold. That is why, Indians often look up on gold and silver as a safe form on investment. 

• Is it subject to capital gains tax for investments in silver?

  Indeed, investments in silver are subject to capital gains tax. For instance, should the investment be sold within a period of 36 months following the date of purchase, a 15% capital gains tax deduction may be applicable. Subsequently, after the initial 36-month period, a 10% tax rate will be imposed. 

• When is the best time to make an investment in silver metal?

  You can invest in silver at any time of the year. However, keeping an eye on the market trends and buying when the silver price is low can be beneficial.