Last updated on: 29th Jan 2023 10:00 AM
Thiruvananthapuram is the capital city of the state of Kerala. It is on the southern tip of India. It is famous for its pristine beaches, lush green hills, and centuries-old temples. But what is not commonly known is that it is also home to one of the oldest and most remarkable silver markets in the country.
Silver has been a part of Thiruvananthapuram's culture and heritage for centuries. The city has exquisite silverware, jewellery, and art objects. From traditional designs to contemporary pieces, the city’s silver market is for all ages.
It is a great place to find a gift for a loved one or pick up a unique piece of silver jewellery for yourself. Let's learn more about this precious white metal.
Investing in silver has been a popular choice in Thiruvananthapuram for centuries. Silver has been an affordable and reliable form of investment. It has the potential to appreciate over time.
People here find silver a great way to diversify their portfolio. Its price does not correlate with the stock market. With silver as an investment, they expect a strong return on their investments.
Also, they consider silver a tangible asset. They store it and use it as a hedge against inflation. With silver prices rising, they enjoy the security the meal provides.
Thiruvananthapuram is a major centre for education, trade, and commerce. This beautiful coastal city is also known as the "Evergreen City of India."
1) The first ever silver coin minted in India was from Thiruvananthapuram. The Maharaja of Travancore mints the first silver coin in 1857.
2) The Maharaja of Travancore had a huge collection of silver coins. Later, he donated the same to the Government Museum in Madras (now Chennai).
3) The Malayalam word for silver is "thulasi," which means "a flower" or "a star."
4) There are over 100 jewellery shops that sell pure silver jewellery in the capital city of Thiruvananthapuram.
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Silver and gold have historically a close relationship as valuable metals. Silver and gold are inextricably compared, but it's crucial to understand the difference too.
Gold and silver are both precious metals that are commonly used as investments. However, they have some key differences in terms of volatility, stability during inflation, affordability, and investment options.
Volatility: Gold is generally considered to be less volatile than silver. This means that the value of gold tends to fluctuate less than the value of silver in the market.
Stability during inflation: Silver is typically considered to be more stable during times of inflation than gold. This is because silver is used in a variety of industrial applications, which can help to protect its value during inflationary periods.
Affordability: Gold is generally more expensive than silver, making it less affordable for some investors. However, silver is considered to be more affordable and accessible for smaller investors.
Investment options: Gold is in high demand as an investment option and is widely recognized as a store of value. Silver, on the other hand, has less demand as an investment option and is not as widely recognized as a store of value.
Silver's purity in parts per thousand. They add metals like copper to silver to increase their durability. because raw silver is too malleable in its natural state.
A typical silver alloy called sterling silver has 92.5% pure silver and 7.5% copper or other metals.
You can invest in silver in various forms:
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Let's understand the basic difference between paper silver and physical silver.
aper silver and physical silver are two different forms of investing in silver. Both have their own unique advantages and disadvantages.
Marketplace: Paper silver is typically traded on stock exchanges and can be purchased through ETFs or futures contracts. Physical silver, on the other hand, is typically purchased through offline or online stores in the form of coins, bars, and jewellery.
Forms of purchase: Paper silver can be purchased through ETFs and futures contracts, which are financial instruments that allow investors to gain exposure to the price of silver without actually owning physical silver. Physical silver, on the other hand, can be purchased in the form of coins, bars, and jewellery, which are physical forms of the metal.
Ownership: With paper silver, ownership keeps changing as the ETFs or futures contracts are bought and sold, while with physical silver, the investor holds complete ownership of the physical metal.
Storage: With paper silver, there is no need for physical storage as the investment is in the form of financial instruments. With physical silver, there is a need for lockers or other safe storage options to keep the metal safe.
Risk level: The risk level for paper silver is considered to be higher than physical silver because of the complex financial instruments and the potential for market manipulation. Physical silver, on the other hand, has a lower risk level as it is a tangible asset that is not subject to market manipulation.
Returns: Paper silver can potentially offer higher returns than physical silver, but it also comes with a higher level of risk. Physical silver, on the other hand, may offer comparatively lower returns, but it also comes with a lower level of risk.
When you pay the cost of silver jewellery, includes the making fees, applicable hallmarking charges, and the Goods and Services Tax (GST).
Silver jewellery, items, and accessories, whether they are plate or covered in another precious metal (excluding articles more than 100 years old), are subject to a GST rate of 3%.
Calculation of Price= current rate of silver per gram x weight of silver x purity of silver + making charges + hallmarking charges (if applicable) + GST.
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