Last updated on: 3th Feb 2023 10:00 AM
Known as one of the rapidly growing cities, Noida is a part of the National Capital Region (NCR) and is situated in Uttar Pradesh. It is a rapidly developing economic and industrial powerhouse. Besides being a well-known hub for the country's leading newsrooms and TV channels, it is also famous for its Film City and proximity to IT hubs. Due to increased industrialisation, silver is increasingly in demand in the city's industrial and retail sectors.
Usually, silver rates in Noida are influenced mainly by the popularity of purchasing silver, especially during the wedding and festive seasons. But other uses, especially in industries, also drive up demand for the precious metal and this impacts prices. This demand from both people and industries is predicted to continue soon, which makes silver a good investment choice.
Silver rates in Noida are influenced by local demand as well as external factors such as geopolitical situations and the US Dollar rate. Silver and gold are naturally compared at the time of investment in precious metals. Still, it is essential to understand why silver is in demand and expected to rise even more in upcoming years.
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When investing in precious metals, people often compare gold and silver. The two precious metals have some similarities, such as the same balance in the stock market and providing safety against inflation. However, they also have some significant differences including:
Affordability: Silver is more affordable than gold, making it easier to purchase for most people. A certain amount of money can buy you more silver than gold.
Volatility: The silver market is much smaller than gold. Silver has more volatility or price fluctuations as it is traded in a smaller volume in the market, unlike gold.
Liquidity: If you want to sell your silver holdings, you will likely have to make an effort to find a buyer. This does not happen in the case of gold, as the gold market is more popular and widespread.
Hedge: Silver is more susceptible to economic downturns due to its industrial uses. This also impacts gold, but due to gold's popularity, it provides a better hedge against market uncertainty.
There are various types of silver investment options in the market. Some of the most profitable silver investment options are:
Bullion: When you buy silver bars in bulk, it is called bullion. It commonly comes with 99.5% pure silver and is traded in the commodities market. Bullion is easy to buy and liquidate.
Coins: This is an ideal choice for a small investment. Silver coins can easily be purchased from banks or authorised jewellers and can bring good returns when sold later.
E-silver: You can invest in e-silver and hold your investment in a Demat form on National Spot Exchange Limited (NSEL). You will get a profit whenever silver prices rise.
The Government of India has levied a 3% Goods and Services Tax (GST) on precious metals and this impacts the amount you will pay to purchase silver. If you buy any form of silver or silver-related items, such as jewellery, coin, bars, etc. in Noida, you have to pay a 3% GST as per the regulations.
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Physical silver, such as bullion, jewellery, bars and coins can be stored at home, while paper silver is invested in the stock market. Apart from the primary storage difference, paper silver and physical silver differ in the following ways:
Security: Paper silver has online security risks like password attacks, malware, etc., which is impossible with physical silver which can be safely stored in vaults.
Profitability: Unlike physical silver, you can predict paper silver's market downfall and withdraw your investment at the right time for potential benefits.
Liquidity: When you predict the market's downfall, you can easily liquidate paper silver quickly. With physical silver, liquidating is a more time-consuming process.
Market size: The paper silver market is almost 243 times larger than physical silver. For example, per 1 ounce of physical silver, 243 ounces of paper silver is traded in the market.
Silver purity in Noida is evaluated based on hallmarking. This is a mark by the Bureau of Indian Standards (BIS) that represents the purity and authenticity of pure silver. You can check the purity grade (999, 925, 800, etc.) on your silver item to ensure the percentage of pure silver that is used in your silver. Hallmarking contains the BIS mark, the jeweller's identification number and the marking year.
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