Silver Price/Rate in Kakinada

Things to Remember Before Buying Silver in Kakinada?

The following are the points that should be remembered before buying silver in Kakinada:

Silver rates - The rates of silver tend to often fluctuate on a daily basis. Make sure to check the silver rates for the particular day before making an investment to ensure that you pay the exact amount.

Certifications - To ensure the purity level and authenticity of the metal check for the Bureau of Indian Standard (BIS) mark, Assay centre’s identification mark, yar of making, and jeweler's identification mark.

Weight of silver - Check the weight of the silver excluding the stone studded if any, to ensure that you pay the exact amount as per the weight of the silver.

Making charges - The making charges vary from one city to another as it also depends upon the jeweler. Look for a jeweler who charges less amount as making cost to save while investing on silver.

Buy back policy - Check for the jeweler's buy back policy so that you can earn guaranteed return when sell your silver item to the seller in future.

Factors Affecting Silver Prices in Kakinada?

The following are the factors that influences the cost of silver in Kakinada:

Import duty - Silver is imported into the country and hence, a certain percentage of import duty is levied on the price of silver, which impacts the overall price of the white metal across the country.

Investment demand - Investors consider silver as a long-term investment tool and an affordable investment mode as compared to gold. Due to this reason, there has been an increasing demand for silver among the investors which directly impacts the silver price.

Industrial demand - silver is used in electronic gadgets, nuclear reactors, shipment packages, medical industry, and in many other sectors. The increasing demand for silver in various industrial sectors has affected the price of silver.

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