Silver Price/Rate in Tenali

However, if you can’t afford to buy precious yellow metal, you can go for its affordable alternative that is silver. Silver can be purchased in various forms like silver bars, silver coins, silver utensils, silver jewellery, etc.

Now, if you are planning to purchase silver, you need to consider the following things.

Purity - It is always a best idea to purchase hallmarked silver. Many people are not aware on how to identify the hallmarked silver. There are four signs that you should check while purchasing silver items.

In case, the jeweller is offering you non-hallmarked silver items, you can request them to provide hallmarked item. Hallmark shows the purity level of the precious white metal.

The four signs of hallmark are purity grade or fineness, Bureau of Indian Standards (BIS) logo, jeweller’s identification number or mark, hallmarking centre’s identification number or mark.

Making Charges - Most of us pay the amount quoted by the jeweller while purchasing silver jewellery. But you need to ask the jeweller the current silver Price and what is the making charge charged by the particular jeweller on that silver article.

Check the Buy Back Policy - Many people sell their old silver jewellery in order to purchase the new one. Thus, if you are going to purchase the silver item, make sure to ask about the buy back policy from the jeweller.

For instance, how much amount, you will be getting if you plan to sell the jewellery to the same jeweller in future. Ask about every single details of the prices that are charged by the jeweller based on which the future silver price will be calculated.

German Silver - Nowadays, many people purchase German silver instead of silver. This, you should not get confused between the two. Sterling silver is manufactured with pure silver along with the other alloys and is hallmarked by BIS. However, German silver is an ordinary metal like brass or copper which has silver polish. German silver is not BIS hallmarked.

Gemstone on Silver Jewellery - Just like gold jewellery, many silver jewellery pieces has gemstone embedded. You should confirm to the jeweller if they have added the weight of gemstone in the silver rate.

Different Investment Options in Silver

Now, let us have a look at different investment options in silver:

Silver Coins - If you are planning to purchase silver for making investment instead of personal use, silver coins can be the ideal option for you as you don’t have to waste money on transaction fees or need to purchase in bulk quantities. The investors can start purchasing as little as one gram and sell them to make jewellery in the future.

Silver Bars - Investors can invest large amount of money into silver bars and save them for future. These days, silver bars are highly purchased in the market. However, they are not sold by the banks because they are big.

Silver Futures - Apart from physical silver, investors can make investment in digital silver in the commodity market. However, you need to invest greater amount as compared to the normal silver. Apart from this, you need to pay a part of the total value of the contract. You can also opt for the physical deliver of the precious white metal. However, most of the investors doesn’t prefer to go for this option.

Factors Affecting Silver Prices in Tenali

The following are the factors affecting silver prices in Tenali:

Inflation - Inflation plays a crucial role in the change in the price of the precious white metal. In fact, it is directly proportional to the change in silver rate as people prefer to hold the wealth in the form of precious metal during inflation thinking that it will give good returns in future. This leads to the increasing silver prices.

Indian Jewellery Market - Silver is considered auspicious in the Indian households and it holds a special place in Indian culture because it is increasingly used in weddings and festive season. This is the reason why silver prices increase in festivals and weddings.

Protection from Uncertainty - People opt to make investment in silver in the form of an asset it is volatile in the commodity market. This will result in political instability or economic slowdown. Not only this but the value of the precious white metal remains the same in the long run.

Rupee Dollar Impact - Rupee dollar impact plays an important role in the change in the price of silver. As the precious white metal is imported in India, there will be the rise silver prices, if the rupee value weakens in India.

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