Last updated on: 3th Feb 2023 10:00 AM
Mangalore is a port city in Karnataka. Silver is a highly desirable precious metal in Mangalore for several reasons. The reason is that many people consider it a traditional investment. It is widely used as gifts during weddings, festivals, pujas, and other auspicious occasions.
Silver is popular as it is more affordable than gold. It is used in many traditional silk sarees manufactured in Mangalore. A fun fact: When the silver price fluctuates due to various internal and external factors, the cost of silk sarees that use pure silver thread also fluctuates. Silver, as an investment option, provides a hedge against inflation and gives you good long-term returns.
Silver investment has been considered a popular choice in Mangalore for decades. People in Mangalore mostly buy silver in various forms. These include silver jewellery, coins, bars, and utensils for gifting and investment purposes.
For those who don't want to buy and store silver, an option is Silver ETFs, which are traded on stock exchanges like regular funds. It is an innovative and convenient way of investing in silver without storing the metal. It is also an excellent option to gain exposure to the silver market. An added advantage is that you can take fluctuations in the price of silver without having to buy the metal.
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Here are a few reasons to invest in silver.
Constant Demand: In India, silver is considered as an auspicious metal. People buy it in the form of jewellery, coins, statues, utensils, and many more. The industrial and medical sector also widely uses silver for its various scientific features. So, the demand for silver is constant and is expected to rise further.
Supply and Demand Ratio: While the demand for silver constantly rises worldwide, its availability is dropping. It means it will be difficult to get silver in the future, eventually increasing the price. So, it's ideal to buy silver for long-term investment.
Predictable Market: The silver market in India is predictable as demand spikes are evident during festivities and the wedding season.
Affordable Price: Silver is more affordable for most Indian households than gold. For young investors as well, silver is within their reach in terms of affordability when they begin their investment journey.
Multiple Ways to Invest: Physical storage of silver is not a hurdle in the investment journey. You must be worried about the storage problem if you buy a few kilos of silver. You don't have to purchase silver in its physical form. Instead, you can invest in e-silver through silver stocks, exchange-traded funds (ETFs), and exchange-traded commodities. You can even own a holding of e-silver and get a profit if the price of silver rises.
Diversifies your Portfolio: People often invest all their valuable money in the stock market to get quick and high returns. A balanced approach is preferable to diversify your portfolio by investing in precious metals like silver. It protects you from the uncertainty of the stock market due to inflation and geopolitical situations.
Silver is a precious metal that is often bought and sold on commodity markets and can be considered as an alternative investment option inMangalore. The price of silver can fluctuate based on a variety of factors, such as supply and demand, interest rates, and global economic conditions. In Mangalore, the price of silver is often quoted in Indian Rupees (INR) per kilogram.
Investors in Mangalore may choose to invest in silver through a variety of means such as buying physical silver, buying silver ETFs or investing in silver mining stocks.
Physical Silver: Investors can buy physical silver in the form of bars, coins, or jewelry and hold it as a store of value. One advantage of buying physical silver is that investors can hold it directly in their possession, giving them control over their investment. However, physical silver also involves certain costs like, storage and insurance, and also it's not easy to liquidate it quickly.
Silver ETFs: An ETF is an investment fund that is traded on stock exchanges, like shares. ETFs that track silver allow investors to invest in silver without actually owning the physical metal. These ETFs can be bought and sold just like stocks and are considered to be more liquid and easier to trade than physical silver.
Silver Mining Stocks: Investing in silver mining stocks is another way to gain exposure to the silver market. When an investor buys shares of a silver mining company, they are buying a stake in the company's assets and profits. However, this type of investment carries more risk than investing in physical silver or ETFs as the performance of the company, management and also the mining conditions can affect the stock's performance.
When it comes to investing in silver, it is important to be aware that the price of silver can be volatile and may fluctuate based on various factors such as economic conditions, supply, and demand. Before making any investment decisions, it is always wise to consult with a financial advisor and also do research to gain a better understanding of the market conditions and the potential risks and returns associated with investing in silver.
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When buying silver jewelry in Mangalore, 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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