Silver Rate Today in Thrissur

Thrissur is a prominent city in Kerala with a thriving commercial sector employing a considerable part of the population. Local people here prefer investing their savings in various schemes including precious metals like gold and silver. Silver investment can be considered a safe option to diversify portfolios amid economic uncertainties. If you are living in Thrissur, you might want to dig deep into learning about silver investment for more than one reason.

Analysts predict an upward trend in silver prices, thus solidifying its place as a secure investment option. It is finding its space in both industries as well as households. The demand for silver coins in Thrissur rises during special occasions and festive seasons. Overall the trends are bullish. However, opportunity & volatility go hand-in-hand, as per the analysts. Read on to learn more about silver rates in Thrissur and how you can make an investment.

Paper Silver vs Physical Silver

You can invest in either paper silver or physical silver.

Paper Silver refers to assets with the price of silver but not silver. Also, since they do not have any backing from real metal, they exist only on paper. You can invest in paper silver through the following:

• Digital Silver on National Spot Exchange.
• Commodity Futures.

Physical Silver refers to coins, bars, jewellery, etc. They are a strategic investment choice if you want to preserve wealth or build a hedge against inflation. Here are a few ways in which you can own physical silver.

• Bullion.
• Silver Jewellery.
• Silver Coins.

How to Invest in Silver in Thrissur

With technological advancements & more awareness around silver, investing in the metal nowadays is as easy as it can get. Investors can find multiple ways to bring silver into your physical or digital accounts. You can buy physical silver coins, bullion, and accessories from your local jewellers. Else, you can invest in paper silver through commodity exchange or buy silver ETFs.

Silver vs other investment options in Thrissur

Thrissur is a hotbed for investors due to its business acumen, entrepreneurial presence, and forward-looking approach. As an investor, you can find multiple opportunities, such as:

1. Real Estate: If you are looking for a retirement plan, you can invest in properties in Thrissur.
2. Gold: It is always a good choice for investment and building financial security.

Impact of GST / Central Bank Policies on Silver Rate in Thrissur

The government of India (GoI) introduced the Goods & Services Tax (GST) in July 2017, which supersedes every existing tax. Every silver purchase attracts a GST of 3%. The GST will influence the final prices, with 5% GST on making charges.

How is the Purity of Silver Evaluated in Thrissur?

You must understand how to check and test silver purity if you consider investing in silver. Pure silver or fine silver contains 99.9% silver. Sterling silver has 92.5% silver and 7.5% other metals. The most common way to check the markings when buying silver. For instance, a metal having a "Sterling .925," marking has 92.5% silver.

Other methods to evaluate the fineness of silver are:

• BIS Mark: Check for the triangular symbol with a dot inside. If it's not there, the silver is fake.
• Ring Test: Perform the ring test and listen to the sound. If the silver makes a ringing sound, it's not fake.
• Ice-cube Test: Place an ice cube on the silver. If the cube melts fast, the silver is pure. 

Interesting Facts on Silver

• In Thrissur, the silver market generally stands short compared to the gold market due to less trading.
• The demand for silver in Thrissur peaks during the festive season.
• People in Thrissur view silver as a hedge against inflation. Still, silver is less favourable than gold due to investor sentiments.
• Thrissur is an industrial hub; thus, silver demand keeps growing. Also, it has more diverse use cases.

Comparative Analysis of Gold vs Silver in Thrissur

If you are still trying to decide which investment option is better, take a look at the comparison between Gold & Silver in Thrissur. 

• Silver is more affordable than gold. The metal provides similar financial security at a much lesser price. Hence, it is referred to as the "poor man's gold."
• There is a drop in silver stockpiles across the globe as governments & other financial institutions are holding less silver, except in India, Mexico, and the US. It is because silver is no longer being used in minting coins. However, since silver has more industrial applications than gold, its demand continues to grow.
• Silver prices are more volatile than gold. They will fall more than gold in bear markets and rise more in bull markets.