Silver rate in Ahmedabad

Silver is always in demand in Ahmedabad, one of Gujarat's largest and most flourishing cities. It is famous for its textile industry and is also known as the textile hub of India. Investing in silver would help to diversify your portfolio. Analysts have different recommendations about how much should be allocated to silver and gold. A balanced approach is required, and it should be based on your specific goals and investment horizons. Consider silver as an inflation hedge. 

Some Interesting Facts on Ahmedabad Silver Rates vs Other

Let us check out some interesting facts about silver:

• Silver as a metal is present in nature. Many traces of silver are found in shellfish, oysters, mushrooms and fish.
   
• Silver was considered more valuable in comparison to gold in ancient Egypt.
   
• Silver was one of the five elements discovered with gold, iron, copper and lead.
   
• In many Indian sweets, silver is used in various sweets as 'varak'. 
   
• Mexico, Peru, Australia, the US, Canada, and Russia are a few countries with high amounts of silver.

Comparative Analysis of Gold vs Silver in Ahmedabad

Both gold and silver are good investment options, requiring investors to pay storage costs. Let us check out the comparison between gold and silver:

• The gold market is far more liquid than the silver market. Better liquidity means investors can make large purchases or sales without moving the commodity's price. However, if you are dealing in smaller volumes of silver, then that liquidity must be fine.
   
• The silver market is more volatile than the gold market. It is both a good and bad thing.
   
• SIlver's volatility is helpful as more volatility means larger price swings.
   
• When the economy is doing well, there is high demand for silver, influencing the prices. Moreover, the industrial use of gold is very little.
   
• Storage is again a thing to consider while purchasing a metal. As silver tarnishes more quickly than gold, it requires a good storage facility.

How is the Purity of Silver Evaluated in Ahmedabad?

Silver has distinctive properties that could help you identify the purest silver. To check the purity of silver in Ahmedabad, you could:

• Authentication Hallmarks: You should look for stamps or markings on silver. There should be a manufacturer mark, date of manufacture and additional info about the piece. 
   
• Magnet Test: Like most metals, silver is also non-magnetic. At the same time, when buying silver, grab a magnet and see if they are drawn to your object. If the magnet stick strongly, then it is not silver.
   
• Odour Test: Sterling silver is odourless. Thus, if you smell your silver and smell some metallic fragrance, then it is not silver.
   
• Polish Test: Regularly, silver needs to be polished. Pull out the white cloth and rub it on the piece. If no residue appears on the cloth, it's not silver.
   
• Flake Test: A few items are plated with real silver. To know if the item that is plated is real silver and not sterling silver. Please take a few of the flakes and put them into acid. If the acid colour remains the same, it is pure silver.

How to Buy Silver in Ahmedabad?

You can buy silver in Ahmedabad from your jeweller and pawn shops. Many dealers would give you silver in whole bars and coins. You can buy silver as jewellery, coins, bullion, commodity futures, or digital silver.

Silver as an Investment in Ahmedabad

Silver is considered a great investment option in Ahmedabad. The demand for silver is always good as it is used in the industrial sector and jewellery. You could invest in silver through the commodities market, buying silver bars and silver jewellery.  

Impact of GST on Silver Rates in Ahmedabad

Whenever you buy silver, the 3% rate is inclusive of GST. As the pace of GST has increased, silver prices also have gone a bit higher.

Paper Silver vs Physical Silver

Paper Silver

• It replicates the price of silver.
• No ownership of silver is required.
• Examples like silver certificates, exchange-traded funds, pool accounts, and silver future accounts.
• You are exposed to counterparty risk.

Physical Silver

• It is also known as bullion and is 99.9% pure.
• Storage of silver is required.
• It could be bought in coins, bars, or jewellery.
• There is no counterparty risk.