Last updated on: 3th Feb 2023 10:00 AM
Ujjain is a city in Madhya Pradesh that has a large and significant population. The city is on the Malwa Plateau and is situated near the Sipra River. Ujjain is famous for its distinctive jewellery, print fabrics, and artefacts made of paper mache. Many people in Ujjain buy silver in the form of jewellery, coins or bars. However, some investors also invest in e-silver and silver stocks.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹77.30 0.00 (0.00%) | ₹77.30 0.00 (0.00%) |
8gm | ₹618.40 0.00 (0.00%) | ₹618.40 0.00 (0.00%) |
10gm | ₹773.00 0.00 (0.00%) | ₹773.00 0.00 (0.00%) |
100gm | ₹7,730.00 0.00 (0.00%) | ₹7,730.00 0.00 (0.00%) |
1kg | ₹77,300.00 0.00 (0.00%) | ₹77,300.00 0.00 (0.00%) |
Precious metals are highly favoured by people as an investment option because it protects them from the inflation of the market due to economic crises, conflicts, geopolitical situations, epidemics, etc. Find out how the two metals differ in multiple categories:
Demand: Gold is a more common investment than silver in Ujjain because of its higher cost and value. But silver is also preferred and is in high demand in the technology and electronics industries.
Market Value: Due to its availability in much smaller quantities than silver, gold is more expensive than silver. Gold is a more popular precious metal in the retail sector than any other metal.
Volatility: Due to high industrial demand, even a small change in a company's operation can highly impact silver rates, making silver more volatile than gold.
Day | Silver |
---|---|
04 Feb 2023 | ₹77.30 0.00 (0.00%) |
03 Feb 2023 | ₹77.30 0.00 (0.00%) |
02 Feb 2023 | ₹77.30 2.50 (3.35%) |
01 Feb 2023 | ₹74.80 0.30 (0.41%) |
31 Jan 2023 | ₹74.50 0.30 (0.41%) |
30 Jan 2023 | ₹74.20 0.00 (0.00%) |
29 Jan 2023 | ₹74.20 0.00 (0.00%) |
28 Jan 2023 | ₹74.20 -0.40 (-0.53%) |
27 Jan 2023 | ₹74.60 -0.40 (-0.53%) |
26 Jan 2023 | ₹75.00 1.00 (1.36%) |
There are numerous benefits to investing in silver. Like gold, silver shields your investments from inflation. Apart from storing physical silver at home, you can invest in the following forms of silver in Ujjain:
Investors can indirectly own silver by purchasing shares of a silver exchange-traded fund (ETF) that invests in silver or silver futures contracts.
Silver bullion usually refers to privately produced silver that has been fabricated into silver rounds or bars. It is traded in the commodities market.
You can invest in futures contracts through commodities markets. Futures contracts give investors a chance to purchase physical silver in the future at a set price and date.
Purchasing the stocks of silver mining companies is an informal way to invest in silver. Prices for silver and silver mining stocks can differ greatly over time. Usually, stock prices do not fluctuate in a specific proportion in this form.
Silver that can be physically stored at home, such as jewellery or coins, is called physical silver. In comparison, you do not have to store paper silver physically at home. Both types of silver investments differ in the following ways:
Safety: Physical silver is considered a safer investment as it has fewer security risks than paper silver.
Risk: You can easily gift or pass physical silver to your family or relatives. Whereas paper silver is held with financial institutes, so it has a higher counterpart risk.
Profit: With physical silver, you can only get a profit when prices are high. With paper silver, you can predict the market downfall and avail the potential gains in time.
Market Size: The paper silver market is so large that only at 1 ounce of physical silver supply, 243 ounces of paper silver is traded in the market.
Hallmarking is the precise evaluation and verification of the content of metals like gold and silver. Metals with a hallmark are guaranteed to be fine and genuine. The silver hallmarking program was introduced by BIS in 2005. Fine silver items are engraved 999 or 995, while other silver has 958, 925, 900, etc., on them. Another method to confirm the purity of the metal is to look for the jeweller's identification mark and BIS mark on the silver.
Day | Silver |
---|---|
01 February 2023 | 74.8 |
07 February 2023 | 0 |
Highest | 77.3 |
Lowest | 74.8 |
The Government of India updated the policy related to the Goods Service Tax (GST) in 2021. According to new regulations, on the purchase of precious metals like silver or any silver-related items, you have to pay 3% GST. If the Government changes the regulation in the future, it will primarily impact the silver rates in Ujjain.
Some Interesting Facts about Silver in Ujjain
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