Last updated on: 29th Jan 2023 10:00 AM
Investing in silver is always a good idea, and people in Thane have a long-standing relationship with this precious metal. Being a famous city in Maharashtra, Thane is known as a thriving tourism and educational hub. Its history and association with silver extend back to prehistoric times. Precious metal is frequently employed in many industries, apart from being a popular choice for jewellery and investment. Multiple variables influence the price of silver in Thane, including international market trends, local and industrial supply and demand, and much more.
Silver is both an industrial and an investment metal, which has a considerable impact on its price performance and forecast. Even if gold prices rise, investing in silver is a more inexpensive option. Let's learn more about silver investments in the city of Thane.
Hallmarking of silver in Thane
Hallmarking is the precise measurement and marking of silver metal in Thane. As a result, hallmarked silver products guarantee that the silver is purest. The hallmarking procedure prevents sellers and merchants from selling unacceptable silver to customers at unsuitable prices. Of course, there are many other ways and techniques apart from hallmarks to check and verify the purity of the silver.
Look for the following key things while buying silver in Thane:
BIS Mark: This mark is the official logo of the Bureau of Indian Standards, abbreviated as BIS. It is one of the most important silver purity certifications. It looks like a triangular sign with a dot inside it.
Purity Grade: The purity grade for fine silver is either 999.9, 999.5, or just 999. It is 970, 925, 900, 835, and 800 for silver alloys, jewellery, and other items.
Years of Marking: Each letter denotes the year of marking.
Jeweller’s Identification Mark: This is another mark to look for while buying silver in any form.
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There are numerous methods for purchasing silver in Thane. To opt for the traditional approach, you can purchase silver bars, coins, and jewellery from authorised retailers.
Apart from buying silver in the form of jewellery, you can also purchase it in other forms directly from financial and government institutions, like the following:
Commodity Futures: The commodities market is another way to buy and invest in paper silver.
Digital Silver on National Spot Exchange: A new form of silver investment by the National Spot Exchange in the form of e-silver or digital silver.
Silver's prominence as an investment option in Thane stems from its low cost. It also provides a reasonable return. If the price of other precious metals, such as gold, makes it difficult to invest in them, silver is a great alternative.
Also, silver is a less risky investment. If you have invested in silver as part of a portfolio, silver will help to lessen your portfolio's risk. This is primarily due to the low volatility of silver prices.
Paper Silver: An asset that depicts the price of silver without really being silver. Paper silver is not backed by actual physical silver metal and thus only exists on paper.
Paper silver allows one to obtain influence on the price of silver without possessing the physical metal. Paper silver is thought to be more useful for trading than long-term investments.
Physical Silver: Coins, bars, jewellery, silverware, and utensils are all examples of physical silver.
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Like any other precious metal, silver also comes under the purview of Goods and Services Tax (GST) in Thane. And it does impact the final cost of silver. A 3% GST is levied on the final price of silver.
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