Silver Rate in Tirunelveli Today

FAQs on Silver Rate in Tirunelveli

• How to invest in silver in Tirunelveli?

  The affordable price of silver makes it one of the most preferred investment options. You can invest in silver in Tirunelveli in the form of silver jewlery, coins, bars, and various household items.

• Where to buy silver bars in Tirunelveli?

  Silver bars can be purchased at Futures exchange in Tirunelveli which is one of the most preferred options among serious investors. The contract size is higher than commodities like gold. Purchasing silver bars through Exchange Traded Fund (ETF) is not possible in Tirunelveli as there is no ETF in the city due to the closure of National Spot Exchange. Individuals can trade in silver through ETFs listed in the US market by opening an account with a stockbroker who provides an opportunity for investing in international stock markets.

• What are the points to consider before purchasing silver in Tirunelveli?

  You must research the daily silver rates before purchasing any silver item as the cost of the white metal fluctuates almost on a daily basis. Decide what material you want to purchase before making an investment and track the market trend to determine the price. Make sure that you buy silver items from certified sellers and look for all the essential certifications in order to ensure the genuinity of the silver item.

• What are the factors that affect the silver price?

  The factors that affect the silver price in Tirunelveli are the supply and demand of the metal; import cost of the metal; industrial and investment demand; and international issues.

• What are the important certifications that are to be checked before purchasing a silver item?

  The important certifications that should be checked before purchasing any silver item are Assay center's identification mark, BIS (Bureau of Indian Standard) mark, year of making, manufacturer's identification mark, and purity of the metal.

• Is the silver price the same across the country?

  No, the silver price is not the same across the country. The variation in silver prices is due to the variation in the GST (Goods and Services Tax) rates and local taxes that are imposed on the silver price.

• Can I test silver purity at home?

  Yes, you can test the purity of silver at home through various tests such as magnetic test, ice test, and many more.

• What are the various size options available for silver coins in the market?

  Silver coins can be purchased from the bank or certified jewelers and are available in various sizes, such as 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.