Last updated on: 3th Feb 2023 10:00 AM
As the former capital of the Marwar region, Jodhpur is the second-largest city in Rajasthan. Owing to its blue walls and homes, it is referred to as "the Blue City." With the majestic Mehrangarh Fort serving as the main draw, Jodhpur is known primarily for its temples, reservoirs and snacks. Jodhpur draws thousands of tourists worldwide due to its use as a stage set in films. The most well-known of them is "The Dark Knight Rises."
Apart from the pilgrimage sites and marvellous culture, the people of Jodhpur admire silver as an investment. Even in rural areas, women are mostly seen wearing silver ornaments, bangles and necklaces. It provides a rough overview of how standard silver is in Jodhpur.
Silver strikes the ideal price-to-quality ratio between rarity and affordability for many investors. Silver is a fantastic choice for investing in securities or those on a tight budget because it is less expensive than gold. The fact that silver is still a rare metal, however, means that its value could rise in the future.
Here are some ways to invest in silver -
One of the most common ways to invest in silver is by purchasing coins or silver bullion. It is a fantastic option if you want to hold silver in your home. Numerous online and offline dealers make it simple to buy coins or bullion. Consider the dealer's reputation and costs when making a purchase.
A particular class of investment fund tracks the price of silver. It is called an ETF. ETFs can be bought and sold because they are traded on stock exchanges. It is an attractive option for people who want to put money in silver but don't want to hold any physical silver themselves.
A futures contract is a commitment to purchase or sell silver at a specified price at a future time. Given how much the price of silver can vary, this kind of investment is risky. Even so, purchasing a futures contract might be a wise move to make money if you think the price of silver will increase.
If you want to invest in silver more speculatively, consider purchasing mining stocks. A mining company's accomplishment depends on many variables, so investing in it carries a certain amount of risk. However, a company's stock price can rise if it does well. You can generate a sizable profit from this.
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Exchange-traded funds that invest in silver and silver-related assets are known as silver ETFs. The ETF portfolio makes investments in physical silver that is kept in products or vaults that account for up to 95% of its repository. There are no purity, storage or insurance issues with this ETF investment. Since you can easily trade it on stock markets, this fund is more volatile than physical silver.
The following are the benefits of investing in silver ETFs -
Silver has an excellent price, which is a significant benefit of investment. Smaller silver coins can be purchased for as low as a few hundred rupees, unlike gold, which is costly and requires significant financial investments. Purchasing silver coins, jewellery and household goods has long been the most common way to invest in silver.
It's crucial to conduct research before investing in silver. It involves becoming knowledgeable about the various silver investment strategies and being aware of the associated risks.
It is fundamental to start small when investing for the first time. It will enable you to gauge the market and limit your losses should the price of silver decline. You can start making more significant investments once you've gained some experience.
Having a long-term perspective is crucial when investing in silver. This is because the short-term fluctuations in the price of silver can be huge. On the other hand, silver's cost tends to increase over time. Therefore, you might notice some high returns if you have patience and hold onto your asset for a while.
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When buying silver jewelry in Jodhpur, 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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