Silver Rate Today in Ajmer

Ajmer is the most centrally located city in the state of Rajasthan. Dargah Shareef is considered an important religious site. This place has become a tourist attraction for Muslims from all over the world. People of Ajmer often give silver coins as a present. The love for silver can be attributed to the fact that it is the only state to have silver mines. Silver is also a popular investment option in the form of jewellery, artefacts, utensils, and bars in the city.

Silver has high retail and industrial demand. Silver is widely used in electronic items, renewable energy and healthcare. Many factors, such as the demand-supply ratio, economic trends, geopolitical situations, etc., affect silver prices in Ajmer. Before investing in silver, learn about the latest prices, available investment options, and more in this article.

How is the Purity of Silver Evaluated in Ajmer?

The Bureau of Indian Standards (BIS) has launched a scheme to hallmark silver. It gives an accurate determination of the amount of silver in your item and prevents sellers from selling impure silver. To find out if an item is pure silver, check its purity grade, such as 999, 925, 800, etc. In addition, look out for the BIS logo, year of hallmarking, and jeweller's identification number to evaluate the purity of silver in Ajmer.

Silver as an Investment in Ajmer

Jewellery is the most known form of silver investment; you also have other forms of silver investment, such as bars, coins, silver stocks, etc.  Here are some of the best ways to buy silver in Ajmer.

Coins: It is the most suitable form for a small investment. Coins are easy to buy, store, and sell. However, additional printing and making costs are added to the final value. 

Bars: It is a pure form of silver. Silver bars are traded at the base price of silver. They are cheaper than other silver forms such as jewellery, coins, etc., as no additional making charges are involved. 

Silver Stocks: You can buy stocks of silver in the stock market. It acts as a barrier against market crashes and is used to diversify the portfolio, like gold. You can reap the benefits of a price hike. 

Impact of GST on Silver in Ajmer

The government of India implemented the Goods and Services Tax (GST) to boost the country's economy significantly. As a result, the government determined that silver and its related items, such as jewellery, utensils, coins, bars, and silver funds, should be subject to a 3% GST. If the government changes tax policies in future, it can impact the silver prices in Ajmer.

Some Interesting Facts about Silver

Silver was one of the first five elements discovered on earth and has been mined for over 6000 years.

Silver is highly reflective and can reflect 95% of the visible light spectrum.

Like gold, silver is a very malleable metal, and you can make 8,000 feet long wire from just one ounce of silver.

Silver has the highest thermal conductivity of 100%, followed by copper, which has 97% conductivity.

Silver has antibacterial and microbial properties. Hence, it is commonly used as utensils in Indian households and by medical professionals in the health sector.

Comparative Analysis of Gold vs. Silver in Ajmer

It is obvious to compare gold and silver as they both are highly popular precious metals in the retail and industrial sectors. An investment in gold and silver helps you protect your investments against inflation. Apart from being a bit similar, gold and silver differ in the following factors.

Volatility: Considering that 60% of the world's silver is imported by industrial sectors, the price of silver greatly varies depending on the needs of each company. Hence, any small change in economic trends can highly impact silver prices, while gold prices stay more stable as it is widely used in the retail and industrial sectors. 

Liquidity: It is easy to liquidate an asset when you trade it without impacting the market price. Gold and silver are easy to liquidate.

Storage: Silver will tarnish when exposed to humidity, air, etc. Since it requires special care to store, it is expensive to store.

Affordability: If you have a low budget or are inexperienced with investing, silver is the ideal choice. At current prices, even 1 ounce of gold can easily buy 1 kg of silver.