Silver Rate Today in Tripura

Tripura is a state in northeast India and is one of the Seven Sisters. It is known for its handicrafts like handwoven cotton fabric and wood carvings. Silver is one of the most sought-after metals for jewellery-making and numerous industrial applications in Tripura. Silver is considered the "poor man's gold" and is very popular in Tripura both amongst the general public as well as investors.

Silver as an investment in Tripura

Silver is one of the most prominent methods of investment in the city of Tripura. Silver can be bought in various forms, such as silver bullion, exchange-traded funds (ETFs), mining stocks, futures contracts, and paper silver. Investors can also purchase physical silver coins or bars.

Silver Bullion

Silver bullion is a form of pure silver that is sold in bars or coins. Silver bullion is a popular investment option due to its affordability and liquidity.

Silver Exchange Traded Funds (ETFs)

Exchange-traded funds (ETFs) allow investors to invest in silver without owning the physical bullion. ETFs are traded on the stock exchanges and are affected by the same market forces as stocks.

Mining Stocks

Investors can also buy stocks of silver mining companies. These companies are involved in extracting silver from the earth and are affected by fluctuations in the silver market. Investing in silver mining stocks makes it possible to gain exposure to the silver market without buying the metal.

Futures Contracts

A futures contract is an agreement between a buyer and seller to purchase or sell a certain amount of silver at a predetermined price. Speculators often use silver futures contracts to speculate on the future price of silver.

Paper Silver vs Physical Silver

Paper silver refers to investments such as stocks, ETFs, and futures contracts. On the other hand, physical silver refers to the forms of the metal (coins or bars) held in physical form. Each of these forms of investing has its advantages and disadvantages, and investors must choose the option that best suits their risk profile.

Comparative Analysis of Gold vs Silver in Tripura

The value of gold, unlike silver, generally remains stable over time. However, it can also have periods of volatility. Investors looking to hedge their investments use gold instead of silver due to its comparative stability and lack of day-to-day volatility. In comparison, silver is a more affordable option and more accessible, it is also more exposed to price changes in the market. 

Impact of GST on Silver Rate in Tripura

In India, goods and services tax (GST) is charged on gold and silver at a rate of 3%. This tax applies to imports, as well as transactions within the country, and affects the rate of silver in Tripura.

How is the purity of silver evaluated in Tripura?

In Tripura, the purity of silver is tested using a process called assay. This process tests the purity and quality of raw silver deposits by combining various chemical and other scientific techniques. Assayers in Tripura and other parts of India rely on XRF (X-ray fluorescence technology) to determine the purity of the silver. 

How to buy silver in Tripura?

There are many ways to buy silver in Tripura. Investors and traders can purchase silver from local jewellery stores, online merchants and auction sites. Additionally, investors can trade in the silver futures market.

Understanding the Demand for Silver in Tripura 

The demand for silver in Tripura is driven by local and national consumption. Silver is often used in jewellery, coins and other decorative items. Furthermore, silver is used to produce industrial and medical-grade products that range from cell phones to electronics, solar cells, diagnostic equipment and more. In addition to silver jewellery, many people in the city of Tripura use silver ornaments and utensils in their homes and places of worship.