Last updated on: 3th Feb 2023 10:00 AM
Ghaziabad is a district town in Uttar Pradesh that lies on the historic Grand Trunk Road. The city is home to more than 2.3 crore people. Its superior road and rail connectivity has earned Ghaziabad the title 'Gateway of UP.' An industrial hub, it also houses several industries, including electronics, consumer durables etc. The presence of various manufacturing hubs has increased the demand for silver in Ghaziabad.
In addition to industries, silver is also used in jewellery. The festival season is a particularly busy time for the silver trade in Ghaziabad. This is because people buy silver in the form of artefacts, ornaments etc. Moreover, to the digitally savvy investment community of Ghaziabad, silver is gaining popularity as an investment option.
To invest in silver in Ghaziabad, you must first understand the silver rates in the city. Remember that the rates are rarely stable. They fluctuate based on multiple factors. To make your buying decision easier, here is a guide on different aspects of silver in Ghaziabad. From ongoing rates to interesting facts - we cover them all. So, continue reading!
Gram | Yesterday | Today |
---|---|---|
1gm | ₹77.30 0.00 (0.00%) | ₹77.30 0.00 (0.00%) |
8gm | ₹618.40 0.00 (0.00%) | ₹618.40 0.00 (0.00%) |
10gm | ₹773.00 0.00 (0.00%) | ₹773.00 0.00 (0.00%) |
100gm | ₹7,730.00 0.00 (0.00%) | ₹7,730.00 0.00 (0.00%) |
1kg | ₹77,300.00 0.00 (0.00%) | ₹77,300.00 0.00 (0.00%) |
Gold & silver are both valued highly in Indian culture. They are made into ornaments or used as gifting options. Moreover, many investors believe that they act as a hedge against inflation. Despite these similarities, the two differ from each other on various grounds. Let's look at some of them:
Day | Silver |
---|---|
04 Feb 2023 | ₹77.30 0.00 (0.00%) |
03 Feb 2023 | ₹77.30 0.00 (0.00%) |
02 Feb 2023 | ₹77.30 2.50 (3.35%) |
01 Feb 2023 | ₹74.80 0.30 (0.41%) |
31 Jan 2023 | ₹74.50 0.30 (0.41%) |
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%) |
The Bureau of Indian Standards (BIS) is a Government-backed institution which hallmarks precious metals in India. These include gold and silver. Hallmarking certifies the purity of silver in the final product.
Unlike gold, hallmarking for silver is not mandatory in India yet. At the same time, buying jewellery or coins without a hallmark is not advisable. So, exercise caution and put your money in the silver product only when it features the following things:
Lastly, ensure that you collect an invoice from the seller.
There are various ways to invest in silver in Ghaziabad. From jewellery to Exchange Traded Funds - silver is becoming popular as an investment option. Here is a glimpse of how Ghaziabad invests its silver:
If you want to invest a small sum, to begin with, coins are an excellent choice. They are sold by different jewellers and banks in Ghaziabad. However, compared to bars, they are more expensive.
You can invest a large sum in bars. They are much in demand and easy to liquidate.
Silver Exchange Traded Funds (ETFs)
Silver ETFs are commodity-based ETFs. Many fund houses offer them. Nearly 95% of the corpus is invested in silver or various silver derivative products.
Day | Silver |
---|---|
01 February 2023 | 74.8 |
07 February 2023 | 0 |
Highest | 77.3 |
Lowest | 74.8 |
The introduction of GST in 2017 impacted silver rates in Ghaziabad by a tiny margin. Before GST implementation, the tax was 1% VAT along with 1% excise duty. Post-GST implementation, the tax was changed to 3% GST.
So, as observed, in the pre-GST era, silver purchases attracted tax at the rate of 2%. After GST, there has been a 1% increase in taxes.
However, remember that a 10% import duty is also imposed. Further, if you want to make silver jewellery, coins or artefacts, you must also pay a 5% GST on making charges.
Do I need a PAN card to purchase a silver product?
What are the factors affecting silver prices in Ghaziabad?
How to calculate the cost of silver?
Should I wear nickel-plated silver products?
What are the different silver purity grades in Ghaziabad?
Where to buy silver in Ghaziabad?
silver rates in Popular cities of India
Silver rate in Mumbai