Silver Rate in Nanded Today

FAQs on Silver Rate in Nanded

• What are the factors affecting silver rates in Nanded?

  The factors affecting silver prices in Nanded are demand and supply of silver, import duty, dollar valuation, industrial demand, and investment demand.

• What are the mandatory certifications needed to be checked before buying silver?

  The mandatory certifications that needed to be checked before buying silver are Bureau of Indian Standard (BIS) mark, manufacturer's identification mark, year of making, and Assay centre's identification mark.

• What are the various forms of silvers to invest in Nanded?

  An individual can invest in various forms of silver such as silver coins, bars, jewelry, and household objects.

• What are the various sizes of silver coins that are available in the market?

  Silver coins are available in the size of one gram, 2 grams, 5 grams, 10 grams, 15 grams, 25 grams, 40 grams, 50 grams, 100 grams, 200 grams, 500 grams and 1000 grams or one kilogram. Silver coins can be purchased from the bank or certified jewelers.

• What are the options through which I can invest in Silver?

  You can invest in silver through Silver ETFs of the US Market and Silver Futures Trading, by purchasing silver jewelry, silver coins, antiques.

• What are the points to remember before buying silver?

  Before buying any silver items make sure to check the current silver rate, the certification marks, buy-back policy of the seller, and the making charges.

• Is silver price the same all over the country?

  No, silver prices vary across India due to the import duty and local taxes levied on the silver rate. These rates differ from one state to another, thereby resulting in the variation in silver prices across the country.

• How can I test my silver at home?

  You can test silver at home easily through magnetic test. Silver exhibits weak magnetic properties and hence, magnet does not stick to the metal. In case, the magnet sticks strongly with silver item, then it is ferromagnetic not pure silver. You can also test its purity through an ice cube test.