Last updated on: 29th Jan 2023 10:00 AM
Guwahati is Assam's largest city and it serves as an entry point to northeastern India. The erstwhile seat of the Kamarupa kingdom, Guwahati's history dates back to 400 CE. Today, it is the principal commercial centre of Assam, with the tea trade driving the economy of the city. A strong railway and road network connects Guwahati to the rest of India. Hence, it receives a steady influx of tourists every year from different corners of the country.
Silver's value as a precious metal used in ornaments and artefacts fuels its demand in Guwahati. Further, the people of the city see silver as an investment option. The cost-effectiveness of silver compared to gold also makes it a popular choice. The demand for white metal in Guwahati goes up every festival season. This increase in demand drives up silver rates in the city.
Silver rates in Guwahati change in tandem with gold rates. However, due to its smaller market, the silver rates tend to be more volatile. To help you make a smart decision when buying silver, we will discuss today's silver rates in Guwahati. In addition, we will also find out how it compares to gold and more. Continue reading!
Both gold and silver may act as a hedge against various economic downturns and inflation. Hence, understand the differences between the two before investing in them. Here is an overview:
Silver is considered more volatile than gold. Almost 60% of the world's silver is used in industrial production. Hence, silver is more sensitive to changes in the economy than gold. With limited applications beyond jewellery markets, gold prices remain comparatively more stable.
The steady demand for both metals makes them highly liquid. However, gold is slightly more liquid than silver due to its higher demand.
Silver tends to be cheaper than gold. This makes silver more affordable for retail investors looking to own precious metals as physical assets. As little as half an ounce of gold can purchase about one kilo of silver at today's rates.
Silver requires specialised storage as it oxidises when it is exposed. Storing silver properly and maintaining it well in storage is essential. Gold, on the other hand, needs to be merely stored in a secure location.
Gold has limited industrial applications. It primarily acts as a store of value. In contrast, silver is used abundantly across industries. From automobiles to medicines - numerous products include silver in varying quantities.
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Gone are the days when investing in silver meant buying the metal in its physical form. In the age of digitisation, the people of Guwahati can also invest in paper silver. It is an umbrella term for various assets that represent the value of silver in paper form. So, let's look at how silver is utilised as an investment in Guwahati:
Investing in silver jewellery is an age-old practice. Silver is shiny and costs significantly less than gold. However, silver jewellery entails making charges.
Many banks and jewellery brands in Guwahati deal in silver coins. If you want to invest a small sum in silver, purchasing coins would be ideal. But remember that like jewellery, coins also come with making charges.
When you want to invest in silver in bulk, bars are options worth considering. With no making charges involved, bars cost lesser than coins.
Silver ETFs are commodity-based funds that invest about 95% of the corpus in silver and silver-related derivatives.
Futures are contracts between two parties where a buyer buys silver at a speculative future price, but agrees to take delivery of the product on a pre-determined later date.
Mexico is the world's largest producer of silver. A location near San Luis Potosi in Mexico had 48 operational mines till 1778.
Many Indian households have a long-standing custom of using silver utensils due to their antibacterial and antimicrobial properties.
Mexico apart, Peru, China, the US, Canada, Russia, and Australia also produce mammoth quantities of silver.
Silver is a highly reflective metal used in mirror coating, telescopes, and solar panels.
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When buying silver jewelry in Guwahati, 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.
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