Silver rate in Ramanathapuram
silver rate in ramanathapuram

1gm:
74.20
0.00(0.00%)
1kg:
74,200.00
0(0.00%)

Last updated on: 29th Jan 2023 10:00 AM

Silver is a valuable metal. It has many forms, including coins and bars. Silver has been used as money and an investment choice for a long time. Trends worldwide indicate that the growing demand for silver is likely to continue as its supply is low. Silver is one of the most in-demand elements in Ramanathapuram.

There are several investment options for silver. So, before any investment, knowing the actual silver rates in Ramanathapuram is helpful.

Silver rates as per grams in Ramanathapuram

GramYesterdayToday
1gm
74.20
0.00 (0.00%)
74.20
0.00 (0.00%)
8gm
593.60
0.00 (0.00%)
593.60
0.00 (0.00%)
10gm
742.00
0.00 (0.00%)
742.00
0.00 (0.00%)
100gm
7,420.00
0.00 (0.00%)
7,420.00
0.00 (0.00%)
1kg
74,200.00
0.00 (0.00%)
74,200.00
0.00 (0.00%)

Comparative Analysis of Gold vs Silver in Ramanathapuram

Gold and silver are two of the most valuable metals in the world, and both have been used as money for thousands of years. But these metals are not the same in many ways.

Volatility

Gold is considered more stable than silver. The industry is the biggest source of demand. So, small differences between demand and supply have a big effect on silver prices.

Liquidity

Liquidity measures how easy it is to trade an asset without changing the markets. The value of the gold market is 24.5 trillion dollars, and the value of the silver market is 4.4 trillion dollars. This shows that gold is 6 times more liquid than silver. However, silver is more affordable than gold and easier to resell as well.

Demand

Aside from jewellery, these metals are used in many other fields. Gold is important in the conductor, electronics, and thermal industries because it is a good conductor. Silver is used in cars, electronics, heating, medicine, and other sectors. Notably, 60% of the silver mined goes into making things.

Affordable Stockpile

Gold is more expensive than silver. A half-ounce of gold can buy 1 kilogramme of silver. After the pandemic, the ratio of gold to silver is 120:1, the highest it has been in the last 5,000 years. Silver, on the other hand, is witnessing greater demand worldwide and investing in it is a smart choice to consider as its value is likely to soar higher than its current rates in Ramanathapuram.

Historical silver rates in Ramanathapuram in last 10 days

1 gram
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Day Silver
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%)
25 Jan 2023
74.00
0.00 (0.00%)
24 Jan 2023
74.00
-0.70 (-0.93%)
23 Jan 2023
74.70
0.40 (0.54%)
22 Jan 2023
74.30
0.00 (0.00%)
21 Jan 2023
74.30
-0.20 (-0.26%)

How is the Purity of Silver Evaluated in Ramanathapuram?

The purity of silver in Ramanathapuram is measured by its millesimal fineness. Parts per thousand (ppt) or thousandths (in 1/1000ths) is the way to measure how pure silver is. For instance, an alloy that is 80% pure will have fineness.975, while an alloy that is 90% pure will have a fineness of.913.

"Pure" refers to metals with no impurities or contaminants. It doesn't mean "whole." A bar that is 100% pure has no trace elements or other impurities.

In Ramanathapuram in 2005, the Bureau of Indian Standards (BIS) started to mark the purity of silver. There are different degrees of how pure silver is, with 9999 being the purest. Assaying and Hallmarking Centres that the BIS recognises put marks on silver and silver alloys.

There will be 5 marks on BIS marked silver:

  1. BIS mark
  2. Purity/fineness
  3. Assay centre's identification mark
  4. Year of marking
  5. Jeweller's/manufacturer's identification mark

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

How to Buy Silver in Ramanathapuram?

Buying silver in Ramanathapuram is easy. There are many ways to buy silver online and offline.

Silver and gold coins are popular gifts in Ramanathapuram. Silver coins are a convenient and popular investment option, as they come in various weights, allowing investors to pick based on budget. Jewellers and banks offer certified silver coins. Silver coins are accessible online but only from licenced jewellers/sellers. 

Silver as an Investment Option

Silver is a good investment option. It has a low risk of depreciation. Here are some investment options in silver:

Silver Coins

The easiest way to add to your investment portfolio is to buy silver coins from a local dealer or an online shop.

Silver Bars

The ease of buying and selling is also true for silver bars, which makes them perfect for trading. Because they are less expensive than coins, this could be appealing.

Future Contracts

Serious investors may buy silver futures, although the contract sizes are bigger than for gold. Futures trading has fees. Brokerage, stamp duty, and other fees may apply.

Silver ETF

Since the National Spot Exchange shut down, there has been no silver ETF in Ramanathapuram. But US-listed Silver ETFs can be traded. Investors who want to trade silver ETFs on the US market must open an account with an international investment platform.

Trend of Silver rates in Ramanathapuram

1 gram
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Day Silver
01 January 20230
30 January 202374.2
Highest75.8
Lowest73.5

Physical Silver vs Paper Silver

Physical silver is something you can hold in your hands.  Because it doesn't lose value over time, it is considered one of the best investments. Paper silver has nothing to do with physical bullion. Instead, it is a fractional ownership of shares in an exchange-traded fund (ETF) or ETFs.

Impact of GST on Silver Rate in Ramanathapuram

The government implemented GST on silver at 3%, which means that the government will take 3% of your money you invest in silver, so you must pay the GST if you want to buy silver in Ramanathapuram. As a result, the silver rate in Ramanathapuram has gone up. 

Some Interesting Facts on Silver & Silver Rates Ramanathapuram vs Other Cities

Silver is a precious metal that's been used for thousands of years.

It can be found in nature, and it can also be mined.

Silver can be used as an investment because it has value.

You don't have to pay extra for silver when you buy silver. 

Silver is also a good way to protect yourself from inflation. This implies that if the price of everything else rises, your silver will too.

FAQs of Silver price in Ramanathapuram

Should I invest in silver or gold?

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Why are the silver rates different in India?

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Should I wear nickel-plated silver products?

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How do I know if an item is made of genuine silver or sterling silver?

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