Silver Rate in Bhagalpur

Silver Coins

Silver coins can easily be purchased in the market but it is always advisable to buy them from a reliable source. Apart from this, the precious white metal can also be purchased from a certified jewellery store. Not only this but also the silver coins are also considered as the best investment option because the investors will not face the risk of losing money nor you need to purchase silver coins in bulk quantities. If you want to purchase the precious white metal in future, coins will help the investors to purchase the precious white metal in a lower price. However, it depends on the financial capacity of the investors on how much quantity to purchase.

Silver Bar

Not only silver coins, silver bars also considered as a good investment option. Many investors purchase silver bars in large quantities and save them for future use. There is no risk in buying silver bars as they always remain in high demand due to which you can easily sell them in future. As they are bigger in size, it is always advisable to sell silver bars to a trusted source. However, banks are unlikely to sell them.

Silver Futures

If you are not interested in investing in physical form of silver, you can purchase it in commodity market. However, you should invest a larger amount as compared to the amount that you are investing in buying physical silver. Apart from this, you also need to pay a part of the total contract value. Silver futures are considered as the ideal investment option to go for when the price of the precious white metal keeps on fluctuating.

Factors Affecting Silver Price in Bhagalpur

The following are the factors that are affecting silver price in Bhagalpur:

Demand and Supply

The demand and supply play a significant role in affecting the price of silver in India. An actual fluctuation in the demand and supply ratio will lead to the change in the increase and decrease in the silver prices.

Inflation

Inflation denotes the hike in the cost of goods and services. Inflation is directly proportional the fluctuating price of the precious white metal. This is because during the higher inflation level, the price of silver also increases and if the inflation level is lower, the price of the silver decreases. The main reason behind the increasing price of silver in inflation is that during this time, people tend to hold the asset.

Strength of U.S. Dollar

The US Dollar is considered as the strongest currency globally and it also plays a significant role in the increase or decrease in the silver rate. Not only this, the investment giants present in the silver market have a clear information that the fluctuation in the value of US Dollar can seriously impact the price of the precious white metal.

Industrial Demand

As we all know that India is giving special emphasis on industrialization, the need of the precious white metal is constantly increasing due to which its price keeps on increasing in the market.

Oil Prices

Silver mining is tough and time consuming process owing to which it directly influenced by the fluctuation in oil rates. The precious white metal that is imported need a good logistics platform which is supported by a continuous crude oil supply. However, if the price of the oil increases, the silver price will also increase directly.

Import Duty

Large quantities of the precious white metal is imported in India because of which its price is impacted by the cost of import duty. If the government increases the import duty charges, the price of silver will directly increase.

Trade Deficit

If the number of imported products are huge, the trade deficit of a nation is higher. Increasing trade deficit will force the government to decision in restricting the import of the commodities as it already did in the past years on the import of the precious yellow metal.

What is Mandatory Checklist for Buying Silver in Bhagalpur?

You need to keep the following things in mind before purchasing silver in Bhagalpur:

Purity

While purchasing the precious white metal, it is advisable to buy hallmarked silver. As per the Bureau of Indian Standards (BIS) rules, you need to take into account the four signs before purchasing hallmarked silver like hallmarking center’s identification number, BIS logo, fineness grade, and the identification number of the jeweller. If the jeweller is offering you the non-hallmarked silver ornament or jewellery, you need to request the jeweller to provide hallmarked jewellery.

Making Charges

If you are willing to purchase silver jewellery, we always consider price quoted by the jeweller on the face value. However, it is recommended to request the jeweller what is the present market value of the precious white metal and what is the making charges. Most of the jewellers charge Rs.3 per gram in the form of making charges. However, the making charges of the precious white metal pieces than the lower gold jewellery.

Check Buy Back Policy

Most of the investors tend to sell the old silver jewellery or ornaments so that they can purchase the new one but it is always advisable for the investors to ask the jeweller about the buy back policy when buying the new silver utensils or jewellery.

Gemstones on Silver Jewellery

There are many silver jewellery pieces where you can find gemstones embedded in them. So, you need to ensure from the jeweller that they have not added the weight of the gemstone in the silver price.

Difference Between Sterling and Pure Silver

Pure silver is also called as fine silver which has an actual silver content of 99.9%. Fine silver is very soft and is mixed with other alloys in order to make it hard. Sterling silver on the other hand has a purity of 92.5% pure silver that is mixed with 7.5% other metal. Sterling silver is made by using pure silver alloy and copper. It is comparatively more durable as compared to the pure silver. The other alloys that are mixed in sterling silver makes it harder.

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