Silver Rate Today in Goa

Goa is the party capital of India, and even though it is the smallest state in the country, it still has some of the biggest factories in India which use silver.  As a result, Goans are always inclined towards investing in silver as they know the requirements of silver in various industries.To invest in silver, you must stay up-to-date with the changing silver rates. Read on to learn more about the current silver rates in Goa and understand some of the prominent factors that affect these prices.

The easiest way to test out the purity of silver is by performing the rub test. You must visit a jewellery store and ask them to rub the bullion on that stone. An experienced jeweller will let you know whether the rubber off particles from your bullion is 14, 18, 22 or 24 Karats pure. Or the silver is 95, 98, or 99% pure. 

Apart from this, you can pay a little more to the tester and ask them to test the purity of silver in a proper machine. With the electronic machine, the entire mass of the bullion is checked for purity. This will help you check the purity of silver objects or bullion to its core and not just to the surface. Once the purity test of silver is done, take the certificate for the same.

The stock market is volatile, and to keep your money safe, investing in alternative asset classes, such as silver, will diversify your portfolio. Gold is a popular choice for many investors, but silver in Goa is more of a safe haven during economic turmoil. Inflation is the culprit behind eroding the actual value of your investment. What this means is what you could purchase with ₹ 100 fifty years ago cannot be bought at the same amount now. With investment in silver, you can provide the "real" value of your wealth from erosion and inflation. Over the past few years, the price of silver has been recovering slowly on an inflation-adjusted basis. 

How to Buy Silver in Goa?

The trend in silver pricing over the last decade has constantly been rising but at a slower pace than other precious metals such as Gold. During festive months, there is a high demand for silver. As a result, the prices of silver usually go up during this time of the year. You can invest in silver differently; each option is explained thoroughly in the sections below. 

Coin or bullion based

This is known to be the most common and easiest way to invest Silver in Goa. With the purchase of silver coins or bullion, you get to keep silver secured physically. Also, you can purchase silver in Goa from your own trusted source, both online and offline. 

Exchange-traded Funds (ETFs)

Exchange Traded Funds are another excellent method to invest in silver. ETFs are responsible for tracking the price of silver along with other assets. For those who don't want to secure the physical form of silver, ETFs are the way to go for silver investment in Goa. ETFs are traded on stock exchanges only. Thus, buying and selling them according to the requirement becomes easier. 

Mining Stocks 

Investing in mining stocks is another way to invest in silver in Goa. This is a more speculative investment, as your investment gains depend on how the mining company performs. The performance depends on various factors, so if a company is yielding great results, your investment can significantly increase your opportunity of making a profit. 

Future Contracts

A future contract is a method in which you agree to buy or sell silver when it reaches a specific price at a future date. This investment in silver in Goa is risky because if the price fluctuates drastically, your investment will face the consequences. Invest in silver trade only if you are sure about the prices of silver going high. In that case, you will also be earning huge profits.