Silver rate in Jaipur

Jaipur is commonly known as the "Pink City" and is the capital of Rajasthan. It connects with Delhi and Agra by the westbound Golden Triangle travel route (240 km).
Jaipur is on the list of World Heritage Sites by the UNESCO World Heritage Committee. The population of Jaipur is 41,07,000. A B2B and B2C jewellery trade show," Jaipur Jewellery Show", is organised each year in December. It takes place at the Jaipur Exhibition and Convention Centre (JECC). This event highlights the importance of silver jewellery and ornaments amongst the people of Jaipur.

Understanding the Demand for Silver in Jaipur

Jaipur has one of the largest Special Economic Zones (SEZ) in the nation. In recent years, there has been a rise in young people wishing to invest in various portfolios.

People in Jaipur tend to buy silver coins for gifting purposes on special occasions. Silver coins come in various weights, from 10 g to 500 g. Investors have the option to select one that fits their budget. This makes silver coins an excellent and diverse investment option.
 

Silver is classified as a precious metal and an industrial metal in Jaipur. It is used for making jewellery, as well as for manufacturing processes.

Interesting Facts on Silver in Jaipur
 

1. Jaipur is the hub of jewellery. It is famous for gemstones too.
    
2. Jaipur treasures silver, as people here like to buy aesthetic silver ornaments.
    
3. Silver is used in many industries in Jaipur. Hence, its price is affordable.
    
4. The five primary silver mines in Rajasthan produce 18,600 thousand ounces of silver. These mines are Sindesar Khurd Mine, Rampura Agucha Mine, Zawar Mine, Rajpura Dariba Mine, and Hutti Mine.

Comparative Analysis of Gold vs Silver in Jaipur

Gold

• Volatility in the market: More volatile
• Stability during inflation: Less stable
• Affordability: High cost when compared to silver
• Investment options: High demand
   

Silver
 

• Volatility in the market: Less volatile
• Stability during inflation: More stable
• Affordability: Easy to afford
• Investment options: Slightly less when compared to gold
   

How is the Purity of Silver Evaluated in Jaipur?
 

The purity of silver in parts per thousand. Since raw silver is too malleable in its pure form, metals like copper are added to silver to enhance its durability.
Sterling silver is a common silver alloy that consists of 92.5% pure silver and 7.5% copper or other metals.

How to Buy Silver in Jaipur?

1. Have a comparative analysis of silver prices in Jaipur to know the trend pattern.
    
2. Decide what type of silver you are planning to buy on the basis of its intended use—for example, gifting, investment, decoration, etc.
    
3. When you buy silver in Jaipur, buy from a well-known and certified dealer.
    
4. Make sure that you buy silver having a BIS 825 hallmark.
    
5. It must have a silver purity certificate.
    
6. Make sure to get a copy of the receipt after purchase. It must include information on the weight, amount, purity rate and current pricing.
    
7. If you buy online, be extra careful, as there are chances of adulteration and fraudulent activities.

Silver as an Investment in Jaipur
 

Silver is a very good option as an investment avenue. It acts as a hedge against inflation and fluctuating stock market prices. The use of silver in industries also influences its price. It is more affordable to buy when compared to gold.
You can invest in silver in various forms:
 

1. Silver Coins
    
2. Silver Bars
    
3. Silver Jewellery
    
4. Silver Exchange-Traded Funds (ETFs)
    
5. Silver Futures Contracts
    
6. Stake in Silver Mining Companies

Paper Silver vs Physical Silver

Paper Silver
 

• Marketplace: Stock exchanges
• Forms of purchase: ETFs, Futures contracts
• Ownership: Keeps changing
• Storage: No need for physical storage
• Risk level: High
• Returns: High
   

Physical Silver
 

• Marketplace: Offline or online stores
• Forms of purchase: Coins, bars, jewellery
• Ownership: Complete ownership
• Storage: Needs to be kept safe in lockers
• Risk level: Low
• Returns: Comparatively low
   

Impact of GST on Silver Rate in Jaipur
 

When you pay, the cost of silver jewellery includes the making fees, applicable hallmarking charges, and the Goods and Services Tax (GST).
Silver jewellery, items and accessories, whether they are plated or covered in another precious metal (excluding articles more than 100 years old), are subject to a GST rate of 3%.

Calculation of Price = current rate of silver per gram x weight of silver x purity of silver + making charges + hallmarking charges (if applicable) + GST.