Silver rate in Mandya
silver rate in mandya

1gm:
77.30
0.00(0.00%)
1kg:
77,300.00
0(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Mandya is a district in the state of Karnataka. It is also called sugar city because sugarcane is a major crop. Mandya is also known for its five rivers Hemavathi, Shimsha, Veeravaishnavi, and Lokapavani. These five rivers make the place significant in terms of its religious importance and scenic beauty.               

Silver has been a popular metal for ages because it is affordable and is also a good investment option. People use silver ornaments to present to their loved ones on festive occasions and at weddings; that way, there is a linkage between the culture of Mandya and silver. Let us understand the price of silver in the city.

Silver rates as per grams in Mandya

GramYesterdayToday
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%)

Interesting Facts on Silver Rates versus Other

Largest Consumer: India is the largest consumer of silver in the world. Analysts say that India consumes about one-third of all the silver produced around the world in just one year.

Biggest Demand: The biggest demand for silver is generated by the industrial sectors where silver is used in the production of solar power units, chemicals, and even photography. This demand can account for 56% of the world's need for silver.

Demand for Copper: Silver prices in the markets are also affected by the demand for copper because one of the forms of silver is sterling silver, which is 95.5% silver and the remainder comprises other elements including copper.

Olympic Gold Medal: Did you know that the Olympic gold medal is silver coated? That is how silver gains status from there too!

Historical silver rates in Mandya in last 10 days

1 gram
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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%)

Gold versus Silver

 1. Utility: Silver has much more industrial and commercial use than gold. Approximately half of all silver bought and sold in the market is used commercially compared to other metals. By contrast, gold has very few commercial applications aside from jewellery. This gives investors a basis to predict price movements for silver.

2. Cost and Volatility: First, it is much easier to invest in silver than in gold. You can buy more silver for less money, meaning liquid investors (who frequently convert their investments into cash) can trade silver more easily.

3. Predictability: Unlike gold, silver prices are highly predictable because of their industrial use. Hence, silver is showing the potential to give healthy returns in the future.From the investment point of view, it is a long-term investment option that can give good returns.

4. Good returns: In 2010, gold gave a return of 25%; and very few would know that silver gave a return of 80-85% in the same financial year. In recent years, a significant increase in the supply and demand of silver has been noticed. Therefore, investing in silver can be a wise choice.

Silver is more stable, economical, and directly linked with the industrial economy. Considering the geopolitical scenario and the overall financial crisis, investing in silver in Mandya will safeguard your future investment.

Weekly & monthly silver rate in Mandya
1 gram
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7 Days
30 Days
3 Months
6 Months

How the Purity of Silver is Evaluated in Mandya?

How do you know if the silver you are buying is pure?

The solution is the BIS Hallmark, which is the highest purity assurance for silver in Mandya (India). This means the product is tested and certified by Government licensed hallmarking centre.

How to Buy Silver in Mandya?

Coins or Bullion: Owning physical silver, either as coins or bullions, is an emotionally satisfying way to invest in silver. Some of the renowned jewellery stores from where you can buy silver are Tanishq, Reliance jewels, and Bluestone.

Silver Future: It refers to a trade in silver wherein an initial payment is made and an agreement is signed, with the final delivery scheduled on the date in the agreement. Silver futures are an attractive way to play the silver market because of the high amount of leverage available in future contracts.

Silver Mining Stocks: By owning the stocks of the companies that mine the metal, you can also take advantage of the rising silver market. By owning the miners’ stocks, you can benefit in two ways. First, if the price of silver rises, the company’s income should rise along with it. Second, the miner can raise production over time, also increasing its profits.

Trend of Silver rates in Mandya

1 gram
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Day Silver
01 February 202374.8
05 February 20230
Highest77.3
Lowest74.8

Silver as an Investment

Here are some of the most important reasons to invest in silver:

Demand: Silver is always in demand from the jewellery market. The demand is also being generated by industrial sectors that require silver for production and this demand far outweighs the demand by any other sector.

E-silver: E-silver is the new personification of silver, innovated by the National Spot Exchange (NSEL), which enables investors to invest their fund into silver in smaller denomination and hold it in a Demat form. NSEL allow people to invest in silver without having to worry about storing the metal.

 Paper Silver versus Physical Silver

The Paper silver market is 250 times larger than the physical silver market. Since there is only one ounce of physical silver for every 250 ounces of paper silver, and physical silver entails more risk, investment in paper silver is preferable to physical silver. Also, there is no risk of looting and theft of paper silver.

From the above discussion of paper silver versus physical silver, it is right to conclude that investing in paper silver should be highly preferable.

FAQs of Silver price in Mandya

What are the trusted places to purchase silver in Mandya?

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How does GST impact silver prices in the city?

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What is the import duty on silver in Mandya?

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Do I have to pay any tax while buying silver in Mandya?

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