Last updated on: 29th Jan 2023 10:00 AM
Chennai, the “Gateway to South India”, is the capital of the southernmost state of Tamil Nadu. Chennai is one of the highly industrialised cities and attracts a high number of tourists every year. Chennai is known for its medical tourism from all around the globe. Chennai is well-connected by all types of transportation, including air, rail, and water. It is a popular destination with travellers as it brings together people from all walks of life.
For the same reason, silver is a popular item that people in Chennai like to buy and invest in.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹74.20 0.00 (0.00%) | ₹74.20 0.00 (0.00%) |
8gm | ₹593.60 0.00 (0.00%) | ₹593.60 0.00 (0.00%) |
10gm | ₹742.00 0.00 (0.00%) | ₹742.00 0.00 (0.00%) |
100gm | ₹7,420.00 0.00 (0.00%) | ₹7,420.00 0.00 (0.00%) |
1kg | ₹74,200.00 0.00 (0.00%) | ₹74,200.00 0.00 (0.00%) |
Chennai, the capital city of Tamil Nadu, is a melting pot of cultures. This itself creates a demand for silver all around the year. Buying silver during festivals is considered auspicious and a sign of royalty. As there are people from many cultures and traditions, a whole calendar year in Chennai is almost blocked with festivals.
Silver as a metal is used in many industries like electronic industries, medical equipment manufacturing, etc. As Chennai is an industrial city, there are diverse sectors where there are requirements to use silver, such as in healthcare, automobile, and jewellery segments.
Silver has also been used as an affordable option for investment in the form of ETFs. It is a popular choice of investment for a majority of middle-class households in Chennai. For this reason, silver is sometimes referred to as poor man’s gold. Thus, the demand for silver is constant in Chennai.
Day | Silver |
---|---|
30 Jan 2023 | ₹74.20 0.00 (0.00%) |
29 Jan 2023 | ₹74.20 0.00 (0.00%) |
28 Jan 2023 | ₹74.20 -0.40 (-0.53%) |
27 Jan 2023 | ₹74.60 -0.40 (-0.53%) |
26 Jan 2023 | ₹75.00 1.00 (1.36%) |
25 Jan 2023 | ₹74.00 0.00 (0.00%) |
24 Jan 2023 | ₹74.00 -0.70 (-0.93%) |
23 Jan 2023 | ₹74.70 0.40 (0.54%) |
22 Jan 2023 | ₹74.30 0.00 (0.00%) |
21 Jan 2023 | ₹74.30 -0.20 (-0.26%) |
The factors include
Whenever you buy silver, it is important to look for some of the following factors to reap the best deal.
Purity and Hallmark: Hallmarked silver is good to buy and invest in. As per the Bureau of Indian Standards (BIs), you should look for four signs that confirm purity. They are
Buyback Option: A buyback option from a seller will assure you the amount the silver will be taken back by them in the future. However, only a few jewellers and dealers will offer you this buyback option.
Trustworthy Sellers: Of course, this should be the first factor to consider while buying silver. Choose reputed and trustworthy lenders or dealers both online or direct purchase.
Day | Silver |
---|---|
01 January 2023 | 0 |
30 January 2023 | 74.2 |
Highest | 75.8 |
Lowest | 73.5 |
You can invest in physical gold, digital gold, real estate properties, stocks, government securities, mutual funds, etc.
Assess the risks associated with every option before investing.
Make sure to choose an investment option that best suits you and has more advantages.
There are two forms of silver as follows.
Physical Silver (Physical Bullion) is what you can buy and store in the form of silver bars, jewellery, utensils, etc. The greatest advantage is the assurance of the actual existence and no techno-hackers will be able to hack your physical silver.
Paper Silver pertains to the intangible form of silver. This is mostly used for trading and commercial purposes. The amount equivalent to the value of physical silver will be with you but not in a physical form that requires storage and safekeeping.
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