Silver Rate Today in Tirunelveli

Tirunelveli, a scenic city with a vibrant historical past, is situated in the southern part of India. The city is quite picturesque as it is located on the banks of river Thamirabarani. Known as the sixth largest municipal corporation in Tamil Nadu,  Tirunelveli had a glorious past as it was under the administration of the Pandyas, Cheras, and Cholas and the Vijayanagara empire. Its historical monuments are architectural wonders, with the most iconic structure being the Swami Nellaiappar temple.

The city is literally 'sweet' as it is renowned for its iconic "'Irutu Kadai halwa'". If you are in Tirunelveli and a foodie, this sweet is a must-have to indulge your taste buds.

Where can I buy Silver in Tirunelveli?

Silver in Tirunelveli can be brought from:

• Authorised sellers
• Certified jewellers
• Reputed banks

When you buy physical silver, choose a trustworthy bank and place a request to book their locker. You can store silver and keep it secure in a bank locker.

How is the Purity of Silver Evaluated in Tirunelveli?

The highest purity level for silver is 99.9%. As silver in its original form will not be flexible, it is usually mixed with other metals like copper, nickel, etc. This reduces the level of purity, which is why it is then certified to indicate the exact purity level.

Paper Silver vs Physical Silver

Before buying silver, you have to be aware of these two forms of silver namely Paper Silver and Physical Silver.

Physical Silver

To put it simply, physical silver is what you can see, touch and store. It is the tangible form of silver. It includes bars, jewellery, utensils, etc. Physical Silver is also called physical bullion. An advantage is that no hackers can hack it but the downside is that it requires considerable storage space.

Paper Silver

Paper Silver is the intangible form of silver. It is mostly used for trading purposes. Here the amount equivalent to that value of silver will be with you but you will not see the silver.

Paper silver gives you an edge over physical silver in storage. Your storage cost will completely be eliminated in this type. But it comes with its own risk. As it is in digital form, the paper silver may be hacked.

Some Interesting Facts about Silver

Silver was first discovered around 40000 BCE.

Silver is harder than gold.

Ag is the chemical symbol for silver.

Silver is said to have antibacterial properties, which is why it is used in healthcare and to treat wounds.

Silver is synonymous with aristocracy and royalty in many cultures. For instance, the proverb "born with a silver spoon" is used to refer to rich people.

Mexico is the largest producer of and the United States is the largest consumer of silver.

Silver Iodide is commonly used for creating artificial rain.

Understanding the Demand For Silver In Tirunelveli

The demand for silver never fades in Tirunelveli. Silver has been one of the most commonly used metals in Tirunelveli for many decades. People in Tirunelveli prefer silver for gifting as it is seen as the symbol of royalty.

Wearing silver ornaments (especially temple jewellery) is considered auspicious by the natives. Silver is also considered the most affordable way for investing when compared to gold.

Silver is not only used in jewellery and as an investment option in Tirunelveli. It is also used in electronic industries, making medical instruments, etc.

Today's Silver Price in Tirunelveli

Before knowing the silver rates in Tirunelveli, you must know the factors that affect the silver rates in Tirunelveli.

The factors include:

Demand and Supply: This is one of the most important factors that affect silver rates in Tirunelveli. The cost of silver will slightly be higher when there is more demand. People tend to buy silver more during festivals and auspicious occasions.

Inflation: Inflation pertains to the general rise in prices. During inflation, silver prices see a slight rise in prices.

National & Global Economic Trends: Silver rates in Tirunelveli also depend on the national and international trends in the economy. When the economy is strong, people will buy and invest more in silver. This increases the overall demand.

Price of Gold: Watch the trend of silver, it closely follows the gold rate.

Government Policies: Government policies also have a direct impact on silver rates in Tirunelveli.

Geo-political Tensions: Silver rate increases during geopolitical tensions or unrest. This includes war, military activity, international relations, etc.