Last updated on: 3th Feb 2023 10:00 AM
On the Malabar Coast of India, near the Laccadive Sea, which is a division of the Arabian Sea, is the ancient seaport and city of Kollam, also known by its former name Quilon. It is located 71 kilometres north of Thiruvananthapuram, the state capital. Silver has been under the financial spotlight for over a decade in Kollam. Due to its benefits as an investment tool, analysts highly agree on its potential growth soon. Silver is considered an auspicious metal in the households of Kollam and is extensively used in Puja and decoration purposes. This makes silver coins and artefacts trendy in Kollam.
It has been a popular investment choice among people as it's a more affordable precious metal than gold. Due to their availability in various weights, silver coins are a good option for investment. This article teaches about the latest prices of silver in Kollam and the factors of price fluctuations.
A thorough examination of numerous factors is necessary to comprehend the silver price trends in Kollam. The study of silver prices by some of these market dynamics competes with one another. The following are the factors that affect silver prices in Kollam.
The value of the silver market is significantly lower than the value of the gold market because, as is widely known, silver is much more affordable than gold. A more prominent trader or private investment firm can easily affect the silver price in Kollam. Therefore, big investors or traders can impact silver market prices.
Demand for jewellery and industrial needs have a more significant impact on silver. Commercial, industrial, and consumer environments use silver extensively. Nearly every day, new products are released. The latest trend will also be using nano-silver particles to produce silver ions.
Even though it might not be very obvious to a novice investor, the price of silver frequently follows the price of gold. The cost of gold significantly impacts the price of silver in Kollam. The price of silver and gold will rise, and the demand for gold will increase. In general, the cost of silver tends to follow that of gold.
Silver and gold also have a solid relationship. Considering this, it stands to reason that silver and oil should also have a stable relationship. Since mining silver uses a lot of fuel, its price will fluctuate along with the price of oil. They are industrial components, so the factors influencing their demands would be typical.
Political and geopolitical events, like wars, catastrophes, and trade disputes, can also affect the price of silver in Kollam.
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Investing in paper silver involves purchasing it through the commodity market, but it is not backed by actual metal and only exists on paper. This type of investment exposes you to credit and counterparty risk. Examples include silver certificates, exchange-traded funds, and silver futures accounts.
On the other hand, physical silver has intrinsic value and is typically found in the form of bars or coins. It can be tarnished easily and requires storage, but no counterparty or credit risk is associated with it. Evaluating the purity of physical silver can be done through methods such as weight tests, magnet tests, and hallmark identification.
Silver is an excellent metal. Not only is it valuable as jewellery and silverware, but it is also a necessity in many different industries and a fantastic store of value. Any investment-grade silver at least 999.95 pure and offered in bars or coins is referred to as silver bullion.
The following are the benefits of investing in silver bullion.
Neither counterparty risk nor default risk affects silver bullion. To fulfil your end of a contract, you are not required to cling to another party's promise.
Silver is priced lower than gold. Compared to its yellow equivalent, silver is a less expensive investment.
Even though purchasing silver is less expensive, it acts as a safety net against unstable economic conditions.
The increase in the use of silver in the industry is impacting the demand for silver. Using more than half of the world's silver supply in various products and drives instinctually keeps the market high.
Silver is a durable asset. You can keep it once you've paid for it. Unlike digital assets and cryptocurrency, you cannot eliminate them.
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Since silver’s worth is unaffected by the slowdown of other financial instruments in the market, the people of Kollam are accustomed to investing in silver instead of stocks and bonds.
Most analysts in Kollam use the gold-to-silver ratio to determine whether now is a good time to buy silver instead of gold.
Kollam Pooram is a colourful 10-day festival dedicated to Lord Vishnu. On this day, people decorate the deity's statues and carts with rare metals including silver.
Many industrial and decorative applications benefit from silver's high reflectivity and resistance to corrosion.
The need for silver in various industries in Kollam is growing as it becomes an integral part of basic production processes.
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