Silver Rate in Bathinda

FAQs on Silver Rate in Bathinda

• What is the maximum purity level that silver can have in the market?

  The highest level of purity that silver can have is 99.9%. This means that the silver contains 99.9% pure silver, with the remaining 0.1% of other trace elements. This purity level is also known as "three nines fine" and is considered the industry standard for investment-grade silver.

• What is the most commonly available type of silver in Bathinda?

  The most widely used silver for making jewellery is known as sterling silver, which is composed of 92.5% pure silver and 7.5% of other metals as an alloy. Typically, sterling silver is mixed with copper, although other metals like nickel may also be used.

• What is the lot size of silver traded on commodity and futures markets?

  The lot size of silver contracts in commodity and futures markets is 1 kilogram. The lot size of a commodity or futures contract is an essential factor to consider because it determines the minimum quantity that can be traded and the margin requirements for the trade.

• How to test the purity of silver at home?

  To test the purity of silver at home, you can do the stink test, which involves rubbing the silver item on a hard surface and smelling the odour. Pure silver has no odour, but other metals like copper or nickel can produce a distinctive smell. The magnet test involves checking if the silver item is attracted to a magnet. Pure silver is not magnetic, but other metals like iron or nickel are.

• Is silver taxable in India?

  In India, the sale of silver is subject to taxation and is treated as capital gain. If the silver ornament is sold after being kept for more than 36 months, it is considered a long-term capital gain, and the benefit of indexation can be availed. The long-term capital gain is charged at a rate of 15%.