Delhi, The national Capital of India is a major driver for silver sales nationwide. Rate here can be treated as benchmark across the country. Silver is one of the most sought-after metals in Delhi making it a major contributor to the national silver market. Silver is a huge form of investment among all income groups including the middle class and even in lower income groups. Investment in silver is mainly to be able to cope up with the inflation as they have an option to cash on this investment whenever needed.
Here silver is mostly purchased in physical forms like silverware, jewellery, coins, bullion etc. some people also trade silver in Multi Commodity Exchange (MCE) and the National Commodities and Derivatives Exchange (NCDE) which offers different contracts of silver in specific months of the year.
Generally people are sceptical about investing in metals like gold and silver. However, diversifying your finances is an intelligent investment strategy. People invest in precious metals like silver primarily with the hope that prices will continue to rise. An average investor also can afford to put their savings in silver market.
Apart from being a good investment it is a necessity at the times like weddings and festivals, they are also given as gifts to near and dear ones which is considered standard gift.