Silver Rate Today in Guntur

Guntur is situated towards the west of the Bay of Bengal in Andhra Pradesh. The city is known for its cotton, chilli and tobacco exports, and it is one of the largest chilli markets in Asia. Silver is considered as a precious metal for investment in Guntur. Traders like to invest in silver as well as other commodities. Traditionally people buy silver coins, bars and jewellery, but today there is also the option to invest in paper silver.

Silver vs Other Investment Options in Guntur

Silver is not only a good investment option in Guntur. It also has several other uses for jewellery, silverware, electric wiring, mirrors and batteries. Silver is considered a good option for investment because it is cheaper than gold and available in several forms.

In Guntur, silver is available in many forms like silver bars, coins, statues, ornaments, and several other commodities. So, it is easy to choose the preferred form of silver while investing in this precious metal.

Nowadays, you can buy silver bars or silver exchange-traded funds (ETF) from a bank or reputed jeweller. 

How to Buy Silver in Guntur?

If you are in Guntur, approach certified and well-known sellers including reputable banks and authorised jewellers. Some sellers sell pure and hallmarked silver while others may not. However, it is not necessary to buy silver in a physical form such as ornaments, coins or bars. You can also buy paper silver in Guntur.

Paper Silver vs Physical Silver

Silver is available for purchase or investment as either paper silver or physical silver:

Physical Silver: You can purchase silver in a physical form such as silver coins, bars or jewellery. Since the demand for silver is high, possessing physical silver will be useful when you choose to re-sell the metal. When you are buying silver jewellery, you will also have to take into consideration additional costs such as making charges.

Paper Silver: Silver commodities are also available in digital format. Paper silver is considered preferable when it comes to investment purposes. People in Guntur can opt for paper or digital silver. For that, investors may have to open trading accounts to begin investing. It must be noted that there are risks with such investments so the investor must research these forms of investments carefully.

Reasons to Invest in Silver in Guntur

High Demand

There has always been a high demand for silver in India because of the multipurpose use of silver for personal use, such as for jewellery and ornaments which are in great demand during the festival and wedding seasons. Furthermore, silver is in demand for industrial purposes.  

Less Expensive Than Gold

Silver is less expensive than gold. Not everyone can buy gold due to its high rate. But, you can always buy silver due to its affordable cost. Even though it costs less, silver still brings good returns.

Storage Options

If you buy paper silver then you will not have to worry about storage because silver investments can be made digitally as well. E-silver products that you can easily buy from the National Spot Exchange Limited (NSEL) are a good way to make smart and safe investments.

Silver is considered one of the smartest and most profitable investment options because you can invest in the precious metal in various forms. Moreover, it is an investment option that has a proven track record of a high resale value.

Some Interesting Facts on Silver and Silver Rates in Guntur vs Other Cities

The rate of silver is affected by several factors including:

Use in Technology: Silver is used in the manufacturing of gadgets like phones, batteries, televisions, touch screens, solar panels and more. The use of silver cannot be replaced by any other metal. Hence, the use of silver in technology is important and drives demand.

Import Cost: Guntur does not have a natural source of silver. Hence, most of the demand for precious metals is fulfilled by import. The silver rate is impacted by the import rate.

Some other factors that affect the silver rates in India include geopolitical events, industrial growth, demand and global currency behaviour.