Silver Rate Today in Siliguri

What is the Mandatory Checklist Before Purchasing Silver?

The following is the mandatory checklist that should be considered before buying silver:

Silver rates - Current price of silver should be tracked on a regular basis to ensure that the customer gets the optimum price while purchasing silver items.

Buy back policies -  Check whether the jeweler offers a buy back policy to their customers to ensure that the buyers get guaranteed returns during reselling of the silver product in the future.

Making charges -  Jewlers charge making cost on silver products which is 10% over the total weight of the silver product. Make sure to perform market research before purchasing silver to find a jeweler who charges making cost at an affordable rate.

Weight of silver item - Silver jewelry often comes with stones studded on it. Make sure to find out the weight of the silver items excluding the stone to get the actual weight to make sure that you pay for the exact amount of silver.

What are the Factors Affecting Silver Price in Siliguri?

The following are the factors that impact the silver price in Siliguri:

External Factors - Here is the list of external factors that influences the price of silver:

Inflation - Silver is considered a hedge against inflation, therefore the increasing trend in inflation impacts the silver price.

Import duty - A huge proportion of silver is imported to the country to meet the increasing demand for silver and hence, import duty is levied on the silver, which impacts on the overall cost of the metal.

Government policies -  Various government polices impact silver prices which results in the fluctuation in the price of the white metal.

Dollar fluctuation - Silver is traded in dollars on the international market. Any change in the dollar value impacts the overall price of silver in the country.

Geo-political scenarios - Various international events influence the silver rates internationally which in turn affects the cost of the metal across the country.

Fluctuation in the price of crude silver -  Any fluctuation in the price of crude silver impacts the silver price across the country which affects the cost of white metal in Siliguri.

Internal Factors - The following are the internal factors that impact the silver rates:

Demand - The demand for silver on the commercial, industrial and personal level impacts the cost of silver. The increase in demand results in a rise in silver price and vice versa.

Supply - Supply ratio of silver in the market also impacts the cost of silver both positively and negatively, depending upon the supply trend.

Mining cost - Mining of silver involves certain cost which is imposed on the overall cost of the metal, thereby influencing the price of the white metal.

What are the Trusted or Genuine Sources of Purchasing Silver?

Here are the genuine sources of purchasing silver:

Certified jewelers

Banks

Private dealers

Certified e-commerce sellers

Authorized sellers

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