Last updated on: 29th Jan 2023 10:00 AM
Kaithal is a city and municipal corporation in the state of Haryana in India. In Kaithal, people observe many festivals and other occasions, during which precious metals such as silver are in high demand. Silver is purchased as jewellery or ornaments during these occasions and given as gifts or kept in homes. Industries in Kaithal also have multiple uses for silver across many sectors including electronics, renewable energy and healthcare. This multi-sector demand impacts the silver rates in Kaithal and influences its price.
Buying and investing in physical silver in Kaithal is highly common and in demand. Silver ornaments like toe rings, anklets, pendants, bangles, etc., are popular and frequently purchased in Kaithal since they are used in everyday life. As an investment option, silver bars and coins are also purchased and stored in safe places such as the home or safe deposit lockers in banks. These are some interesting facts about purchasing silver in Kaithal:
Certified silver coins can easily be bought from banks and jewellers in Kaithal.
Silver coins or utensils are highly common in Kaithal, especially for special occasions such as weddings, housewarming ceremonies or the birth of a child.
Silver and gold are both precious metals that are in high demand in Kaithal. Both silver and gold are widely used by people for personal use and as investment options. However, various factors make the two metals different from one another. Investing in either silver or gold depends on the investor's preference and financial situation. Silver is more affordable than gold, and also brings good returns.
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You can purchase silver items from different places including jewellers or banks:
Banks: Verified and brand-assured silver can easily be purchased from authroised banks in Kaithal.
Jewellers: The traditional method of buying silver-related products in Kaithal, such as jewellery and ornaments, are reputed jewellers in the city.
Online: Online stores deal in various silver-related items and ornaments that can easily be purchased from the comfort of your home. Before buying silver online, however, carefully ensure the silver has the purity verification marks and that the sellers are reliable.
Silver can be invested or purchased in two forms: physical silver and paper silver. Physical silver refers to the actual metal that you can hold in your hands and store. It is in the form of silver coins, bars, bullion, jewellery and ornaments. Paper silver, on the other hand, refers to an investment that has the value of silver but is not physically present. These are in the form of silver certificates, exchange-traded funds (ETFs) and other silver investments.
Both physical silver and paper silver have their pros and cons, and both are good investment options that provide good returns. For those interested in investing in paper silver, it is advised to conduct thorough research before investing since these investments have risks. Financial advisors can also assist investors to make the right choices. For those purchasing physical silver as an investment, it should be noted that silver needs to be stored in ideal climatic conditions to ensure it remains in good condition.
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Before purchasing or investing in this precious metal, ensure it is 99.9% pure silver and verified by the seller. Impure silver can easily be confused with pure silver, resulting in financial loss. Therefore, checking the purity level of the silver item before buying it is crucial. The following methods can assess the purity levels of silver items:
Year of Manufacture: Before purchasing the silver, look for the manufacturing year of the product. This marking helps people keep track of the product and its purity.
BIS Hallmarking: The Bureau of Indian Standard (BIS) is the body that assures that the silver to be purchased is pure and verified. The hallmarking present on a silver product represents its purity.
Jeweller's mark: To represent that the jewellery is pure and verified, jewellers embed their symbol onto the product. Make sure to check this before making your silver purchase.
There is a 3% Goods and Services Tax (GST) on all purchases. Furthermore, there are also taxes on making charges and import costs. These additional charges must be factored in while calculating the total amount of money you will spend on silver purchases.
Why is silver in great demand in Kaithal?
What is the maximum purity level of silver?
Can I purchase silver from any bank or jeweller?
What documents do I need to provide to purchase silver items?
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