Silver rate in Nadiad

Nadiad is one of the important cities of Gujarat, as it is a major industrial town. Several manufacturing companies are located in Nadiad, offering employment to many people from the local population. Moreover, Nadiad is a major trading hub, with several locals finding work in this sector. To make their money grow, people here like to invest their money using various options, including silver.

Investment in silver is a popular option here as this precious metal offers steady returns over the years. If you also want to invest in silver in Nadiad, you may opt for paper silver or physical silver, based on personal preferences. Read on to learn more about silver rates in Nadiad and what are the factors that affect silver rates in Nadiad.

How is the Purity of Silver Evaluated in Nadiad?

Nadiad is a major city in Gujarat and is home to many silver investors. If you are also living here and want to invest in physical silver, then you must know all about the purity of silver in Nadiad. When it comes to precious metals like silver, purity is crucial. In simple words, impure silver is nothing but a loss of investment. Hence, it would help if you were well-versed in the most popular method of measuring silver purity, i.e., hallmarking.

The Bureau of Indian Standards (BIS) introduced the concept of hallmarking silver in 2005. Herein, BIS specified several crucial parameters that would help anyone determine the purity of the silver. This is why most jewellers here started selling hallmarked silver after 2005. The three vital aspects of hallmarking are:

• BIS Symbol, i.e., a triangle shape with a dot in the middle.
• Year of marking stamped on the object.
• Purity level of silver stamped on the object.

How to Buy Silver in Nadiad?

If you want to buy silver in Nadiad, there are two options to choose from, i.e., online and offline. Here are some vital details related to buying silver in Nadiad:  

Jewellers: Several jewellers in Nadiad deal in silver and gold objects. Whether you need silver coins, bars, jewellery, utensils, or religious figurines, these jewellers can cater to your needs. Before making the payment, you must check for the hallmark stamp and assess the purity of the silver. Else, there are chances of fraud taking place.

Online Platforms: As demand for paper silver is growing across India, the people of Nadiad have started investing in paper silver through online platforms.  The units are stored in your online account and can be bought or sold in a matter of minutes. You can invest in silver mutual funds or ETFs as per your preferences.

Paper Silver vs Physical Silver

There is an ongoing debate about the superiority of paper silver or physical silver. Here are some crucial aspects you need to consider when you are about to make an investment decision:

• Paper silver is easier to purchase, store, and sell. All you need is a Demat account and internet access. All the units are stored in an online account secured by passwords. So, you can rest assured of the purity and storage concerns accompanying physical silver.  
• Physical silver is the best option if you invest in silver coins, bars, and jewellery. Moreover, if you need something as a gifting item or for ornamental purposes, then physical silver is the best option at your disposal.
• When it comes to duration of investment, both paper silver and physical silver are good options for long-term investments. In case of a short-term investment, paper silver is a better option as it enables you to take benefit of daily price changes in silver.          

Some Interesting Facts on Silver

Silver has always been one of the most valuable precious metals across India. With increasing industrial usage, this demand has touched even greater heights. Read on to learn more about some fascinating facts related to silver:

Silver has many applications in multiple industries, especially automotive and renewable energy. This sets silver apart from gold which has limited applications outside the ornamental domain.

The symbol 'Ag' used to represent silver has Latin and Greek origins. The meaning of this symbol in the Greek language is 'shiny'.

The gold-to-silver ratio is widely used by analysts worldwide to determine if it is a good time to buy silver or gold for investment.

Impact of GST on Silver Rates in Nadiad

Like the rest of India, GST @ 3% is applicable on silver in Nadiad as well. This has led to an increase in the price of silver but has not affected the popularity and demand of silver.