Silver Price/Rate in Bikaner Today

Elements Influencing the Price of Silver in Bikaner

The cost of silver in Bikaner is determined by the interplay of supply and demand, as well as global economic factors, similar to gold. The price of silver has been consistent for a prolonged period. Some of the factors that influence the price of silver in Bikaner are:

Industrial Demand -The vast bulk of global demand for silver comes from industrial applications. Silver is crucial in various everyday items such as mobile phones, televisions, solar panels, and more, where no other metal can replace it.

Additionally, the medical industry also has silver usage, which increases its demand. These factors continue to drive the market for silver and hike its price.

Asset Demand - Silver is often viewed by investors as a long-term investment due to its growing demand and limited resources. This has made it a desirable metal to invest in, resulting in investors accumulating this precious metal. Although the level of demand to invest in silver may not be the same as gold, it still holds considerable value in the international market as a precious metal.

Import Cost - Due to the limited silver resources in Bikaner, it is heavily dependent on imports to fulfil its silver needs. As a result, the cost of imports has a significant impact on defining the price of silver in the region.

Additionally, a more powerful dollar will make buying silver more costly in Bikaner since silver is traded in US dollars.

Ways to Invest in Silver

One of the key advantages of investing in silver is its low cost. Unlike gold, which is quite costly and requires a substantial amount of money to invest, you can buy small silver coins for as little as a couple of hundred rupees. Some of the options for investing in silver include:

Jewellery Utensils - When investing in silver through jewellery or household items such as utensils or lamps, please note that the additional cost of making charges may be significant.

Intricately designed silver jewellery can be particularly expensive than buying silver coins. Reselling silver jewellery comes with a typical melting amount of 15% or more, which can lower the overall returns on investment.

Furthermore, investing in physical silver also implies considering the volume of metal purchased, which is greater than gold for the same price, and the need for secure storage.

Coins - Silver coins are a popular option in Bikaner, both as gifts for special occasions and as an investment. They come in various weights, allowing investors to choose according to their budget.

They can be purchased from certified jewellers and banks and are also available online. Still, it is vital to be cautious when buying from non-certified sellers and ensure that you receive a purity certificate with your purchase.

The option to purchase silver coins from a jewellery store or from banks is available, but buying from banks may be slightly more expensive as they include charges for damage-proof packaging and a purity assay certificate. Additionally, jewellers may also apply a casting amount, as well as sales tax.

Futures Exchange - Investing in silver through the futures market is a suitable option for serious investors, but it's important to note that contract sizes tend to be larger than other commodities, such as gold. Furthermore, various charges are associated with trading in the futures market, such as brokerage fees, stamp duty, and other expenses that the investor needs to bear.

ETF -  Currently, there is no availability of a silver Exchange-Traded Fund (ETF) in Bikaner as a result of the closure of the National Spot Exchange. But, investors can still trade in silver ETFs listed on the US market by opening an account with a stockbroker who can facilitate investment in international stock markets.

Aspects to While Investing in Silver

There are various options available in the market for buying silver, which can be a valuable investment choice.

Price Monitoring - Prior to investing in silver, it is important to keep an eye on silver's price trends and to check current silver rates. With various options available, it's crucial to take the following points into consideration before making a purchase. It is essential to observe the price movements of silver over a certain period and check live silver prices before deciding to invest.

Forms of Silver - When investing in silver, it's important to consider the various forms it can take, such as bars, coins or jewellery. Each of these types has its own advantages and disadvantages, so if your goal is to sell silver in the future, there may be better options than jewellery. Instead, coins or bars may be a more appropriate form of silver investment. Beware of the pros and cons before deciding to invest in a specific form of silver.

Ensure Certification - In 2005, The Bureau of Indian Standards (BIS) introduced hallmarking of silver in Bikaner. There are various levels of silver purity, with 999 being the purest. The hallmarked silver will bear five marks, including the BIS mark, the purity or fineness, the assay centre's identification mark, the year of marking, and the jeweller or manufacturer's identification mark.

Read More on Silver