Silver Rate Today in Theni

Theni is a city located in the Theni district of the Indian state of Tamil Nadu. Despite its relatively small size, the city has a rich history of gold investment and trade, which continues to be an important part of its local economy.

In recent years, Theni has also seen a rise in the popularity of digital gold investment options, such as e-gold and gold ETFs, which allow investors to buy and sell gold with the click of a button. These new investment options have made it easier than ever before to invest in gold and to keep track of your investments.

How Is The Purity Of Silver Evaluated In Theni?

Here are certain ways to evaluate the purity of silver in Theni:

• Do the magnet test. Usually, neodymium magnets are strongly attracted to genuine silver.
• Check for The Bureau of Indian Standards (BIS) hallmark, rating, and standard stamps on the silver items you want to buy.
• Do the bleach test, as you apply a drop of bleach on the metal watch closely and if the item rapidly tarnishes and turns black then the item is silver. 

Impact Of GST On Silver Rate In Theni

Recently the government has notified that everyone who buys silver will be required to pay 3% GST. However, you must know about any updates the government makes regarding the GST rate that will be levied on silver.

How To Buy Silver In Theni?

Decide on the form in which you want to buy silver, physical or paper. Paper silver can easily be purchased from the National Spot Exchange while physical can be purchased from your nearest credible jewellery store.

Buy only from reputed sources and ensure that you are aware of the price on the day you plan on making the purchase. The fair price can be looked up at the multi-commodity exchange.

Purchasing silver is very easy. However, one must pay attention to the genuineness and the fair price of the metal to get the maximum returns on investment.

Silver As An Investment In Theni

You can buy silver in the form of:

• Silver jewellery: Silver jewellery is considered auspicious and hence Silver is widely used to craft beautiful jewellery. The silver jewellery of 925 Hallmark is considered to be of the purest form
• Silver bars or coins: Like gold bars or coins, silver bars and coins are bought as a physical asset whose slow but sure appreciation over some time serves as a profitable investment.
• E-Silver: A unique way to own silver without facing storage problems is E-Silver, an initiative by National Spot Exchange Limited or NSEL. You can trade this silver on NSEL itself.

Interesting Facts On Theni Silver Rates Vs. Other Cities

In this part of the article, you will get to know some interesting facts about the silver rate in Theni in comparison with other city rates.

• Discount provided on bulk buying also leads to a variation in the rate of silver.
• Silver is unfortunately not found in the natural deposits of our country. Which is the reason why silver is imported into India. Therefore, the rate then remains dependent on the import duty levied.
• It is the value of the rupee against the dollar that determines the rate of silver. Any decrease in the dollar value leads to an increase in the demand for silver and vice-versa.
• Silver, gold and other precious metals are resistant to inflation and serve as an effective hedge against inflation.