Last updated on: 3th Feb 2023 10:00 AM
Is silver a good choice for investment in Belgaum? Well, it is a good choice.
Belgaum is the second most populated district of Karnataka after Bangalore. It is renowned for having the second-largest parliamentary building in the country. The demand for silver in this city is always high. Moreover, silver is used widely in various sectors of Belgaum—from jewellery to automobiles and healthcare.
The silver rate in Belgaum fluctuates based on several factors including the demand and supply ratio and other internal and external factors. Continue reading to learn more about silver in Belgaum.
Knowing the purity of silver is the primary thing to consider before buying any precious metals. The same is the case with silver.
The most common way to check the purity of the silver is to check the hallmarking.
Moreover, silver is often called with a prefix of different names based on its purity. The common name of silver with a purity percentage is:
Apart from these, look for the following things to check the purity of the silver:
BIS mark: It's the official logo of the Bureau of Indian Standards, which is a triangular shape with a dot inside. If your silver doesn't have this mark, it may be fake silver.
Jewellers Identification Number: Find out this number to check the authenticity of the retailer and, eventually, your silver.
|04 Feb 2023|
|03 Feb 2023|
|02 Feb 2023|
|01 Feb 2023|
|31 Jan 2023|
|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
|27 Jan 2023|
|26 Jan 2023|
Silver is considered a good investment option in Belgaum, just like other precious metals.
It has been used as a form of money with excellent value for thousands of years. Silver has a high demand in various industrial sectors and in Indian households. It is also preferred as silver is more affordable than gold. Many analysts predict it will be a good investment in the coming years.
Like gold, it provides a hedge against uncertain market trends due to geopolitical situations, economic changes, government policies, etc. You can invest in silver in bullions, bars, coins, e-silver, etc. Another option is to buy physical silver and store it at home without worrying about theft. You can easily trade e-silver on the national spot exchange or invest through commodities futures on the MCX or NCDEX.
Silver bars, coins, and bullion are the physical forms of silver that you can buy and store at home. The silver invested in digital silver or commodities is called "paper silver."
They both have pros and cons and can be differentiated in the following ways:
Counterparty risk: Physical silver, like bars or coins, is a tangible asset you can easily pass on to someone. So, there is no counterparty risk in physical silver as it's not a financial instrument like paper silver that you hold with brokers or financial entities.
Security: When investing in physical silver, you don't have to worry about hacking or other online security risks. So, physical silver is considered safer than paper silver.
Profitability: In physical silver, you can only earn profits when the prices are going up. While in paper silver, you can predict the market trends, and when you think that market is going to be down, you can sell your silver investment in time.
Storage and security cost: When you store physical silver at home, there is a risk of theft. Silver quickly tarnishes, so it requires a particular storage space that can be extensive and expensive. You don't need storage space in the case of paper silver.
Liquidity: If you own physical silver and know that the prices will fall in the future, you cannot sell it quickly. In the case of paper silver, you can easily sell it. Also, buying and selling physical silver is more expensive than paper silver.
Market size: The market of paper silver is 243 times larger than the physical silver market. It means per 1 ounce of physical silver supply, 243 ounces of paper silver is traded.
|01 February 2023||74.8|
|07 February 2023||0|
When buying silver jewelry in Belgaum, it's important to keep the following things in mind:
Quality: Make sure to only buy silver jewelry from reputable jewelers who use high-quality silver. Ask to see the purity certification for the silver, and ensure that it is hallmarked by the Bureau of Indian Standards (BIS).
Design: While buying silver jewelery also consider the design of the jewelry. Check for the intricate details and craftsmanship of the piece.
Price: Compare prices from multiple jewelers to ensure you are getting a fair price for the piece. Be aware of any additional charges, such as import duties or GST, that may affect the final price.
Hallmarking: Always check the authenticity of Hallmarking on your silver jewelry, it gives you the assurance of the purity of silver.
Returns and exchanges: Find out if the jeweler has a return or exchange policy, just in case the piece doesn't meet your expectations.
Purpose: Think about why you are buying the silver jewelry, is it for personal use or as a gift. Also, consider if it's something you can wear often, and it would look good with your existing collection of jewelry.
Aftercare: Ask about the jeweler's recommendations for cleaning and maintaining your silver jewelry, to ensure it remains in good condition.
Will silver ever lose its value?
Why is the price of silver so low?
How to calculate the price of silver in India?
Which is the best silver for jewellery?
silver rates in Popular cities of IndiaSilver rate in Mumbai