Silver rate in Jalgaon

Jalgaon is a city in North Maharashtra, India, that serves as the administrative headquarters of the Jalgaon district. The Satpuda range of mountains in the north and the Ajanta range in the south surrounds the city. The city is a major business hub for cotton, tea, pulse, bananas, and gold. Buying and selling precious metals like gold and silver is quite popular in Jalgaon. People invest in silver at a very high rate in the city. Let's identify the major aspects that influence silver purchases in Jalgaon city. 

Some Interesting Facts on Jalgaon Silver Rates

Buying or investing in silver can provide short- and long-term benefits when done carefully. Let's identify some interesting facts associated with the silver purchase in Jalgaon.

• Jalgaon city is famous for its silver coins as a gifting option on special occasions. 
• Currently, there is no Exchange Traded Fund in Jalgaon due to the closing of the national spot exchange. 
• Jewellers from Jalgaon city started the hallmarking of silver after it was started by the Bureau of Indian Standards (BIS) in 2005.
• Silver is highly prevalent in Jalgaon and is considered a liquid asset due to its high demand. 
• The increased stability of silver in Jalgaon makes the metal highly precious and in demand. 

How is the Purity of Silver Assessed in Jalgaon?

Silver is only precious until it is pure and brand assured. Before investing in silver or directly buying any ornament or item of silver, make sure that the silver is pure. Here are some ways by which the purity of silver can be ascertained:

Purity/ Fineness: It is necessary to make sure before investing or purchasing that silver is pure and that any other metal is not mixed with it. It is often mixed with other compounds to make silver more reliable and durable. Hence, ensure you invest in pure silver bars, coins, ornaments, or other silver items. 

BIS mark: Pure silver has a Bureau of Indian Standard hallmarking symbol. It represents silver in which you are investing is pure, assured, and verified by BIS. 

Year of marking: Every ornament, item, coin, or bar has the year of manufacturing inscribed. It helps to track the silver and ensure that silver is pure and verified. 

Jeweller's identification mark: Every silver ornament, coin, item, and bar has the identification mark of the jeweller inscribed on it. It represents where the item has been purchased and helps ensure that the item is pure and brand assured. 

How to buy silver in Jalgaon?

There are various options to purchase silver in Jalgaon. You can opt for any option based on your level of comfort. To help you learn more about the options for purchasing silver in Jalgaon, here are some details for your perusal:

Jewellery Stores: Jalgaon has plenty of jewellery stores that deal in different ornaments, items, or silver coins. Jewellery stores here also deal in silver bars. You can visit the store and make your purchase. Check the year of manufacturing, hallmarking, and jeweller's identification mark on your purchase before finalizing it.

Online Silver Stores: Silver can be easily purchased from online silver stores. There are also several options to invest in paper silver, such as commodity exchanges and mutual funds.

Silver as an Investment in Jalgaon

Jalgaon is famous for its purchase of silver coins and bars. The rate of silver in Jalgaon has been steady for the last several years, and there are fewer chances of a decline in the rate of silver in Jalgaon; silver is a good investment option in Jalgaon. The pure and brand-assured silver in Jalgaon will provide hefty benefits when needed. Silver is a highly demanded metal in Jalgaon, hence a good investment option. 

Paper Silver vs Physical Silver 

Silver can be purchased in two forms, i.e., paper silver and physical silver. Both these options can be used while buying silver, but it will help if you know about the pros and cons of paper silver and physical silver.

• Paper silver is easier to purchase than physical silver, as you can complete the transaction with a few simple clicks.
• Paper silver is the best go-to option for investment options as it is easy to trade online. 
• Physical silver offers a more suitable approach for ornaments and other silver-related items. 
• Physical silver is more appropriate for long-term benefits as you have it in your possession.
• Paper silver is more appropriate for short-term benefits as you can leverage the price changes. 

Impact of GST on Silver Rates in Jalgaon 

The imposition of GST has increased the price of silver, though it hasn't affected the purchase of silver in Jalgaon. Investment or buying silver in Jalgaon is still in high demand despite a 3% GST levied on silver.