Last updated on: 3th Feb 2023 10:00 AM
Jammu is the winter capital and the second most populated city of the Indian union territory of Jammu and Kashmir. This beautiful city is surrounded by the Himalayas. The Kashmir valley and Vaishno Devi temple is the famous tourist spot of Jammu. The city has a steady influx of capital through tourism and local industries. Apart from this, for investment purposes, silver demand in Jammu is relatively high.
Do you consider silver a great investment option? Well, if yes, let's learn about the latest price of silver, how you can invest, the comparison of silver and gold, and many more.
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 and silver are similar in terms of providing safety against market uncertainty. Investors highly use both these metals to diversify their portfolios. However, gold and silver differ in many terms that are explained below.
Liquidity: When you resell the asset without any significant impact on the market price, liquidating the asset is considered easy. Gold and silver are both easy to liquidate. However, gold has higher liquidity due to its popularity.
Volatility: Silver is a highly volatile metal compared to gold. Almost 60% of the world's silver is used in the industrial sectors. So, minimal changes in the economy can highly affect the silver rates. In comparison, gold doesn't get much affected by economic downturns.
Affordability: Silver is the most affordable precious metal compared to gold. It is a suitable option for every Indian household. You can buy more silver for the same amount as gold at current prices.
Storage: Silver can easily tarnishes due to environmental exposure. So, it needs dry and expensive storage that slows down or prevents it from quick tarnishing. In contrast, gold is not sensitive to environmental exposure.
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%) |
Investing in silver in the form of jewellery and coins is a well-known investment type. You can also invest in silver in the following ways to get adequate financial benefits.
Physical silver, such as jewellery, coins, artefacts, etc. can be stored at home. Paper silver is invested in the form of stocks and funds in the market. Both types of silver majorly differ in the following factors.
Liquidity: If you predict the market downturns, you can quickly sell your paper silver at the time, which is not possible in physical silver.
Security: As paper silver is invested online, it has safety issues like password hacking, malware attack, etc. Hence, physical silver is considered a secure form of investment.
Market: Paper silver market is vast compared to the physical silver market. At only 1 ounce of physical silver supply, 243 ounces of paper silver is traded in the market.
Counterparty Risk: You can easily pass on the physical silver to your loved ones. In the case of paper silver, you own the holdings through a broker or financial institution, so it has more counterparty risk.
Day | Silver |
---|---|
01 February 2023 | 74.8 |
05 February 2023 | 0 |
Highest | 77.3 |
Lowest | 74.8 |
The most accurate method to evaluate the purity of silver in Jammu is to look for hallmarking. BIS introduced the hallmarking scheme all over India to stop retailers from selling impure silver at unsuitable prices. The hallmark contains the fineness grade, BIS logo, year of marking, and jeweller's identification number. The fineness grade on the silver indicates the pure silver used in making the item. For example, if the item has 995 marks, it contains 99.5% pure silver; if it has a 925 mark, it is 92.5% pure.
Silver falls within the category of 'Goods' as per the GST rules and regulations. So, any purchase of silver is taxable in India. According to the current GST policy, the consumer has to pay 3% GST on silver or articles related to silver. If the central bank policies are updated in future, it can directly impact the silver rate in Jammu.
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