Silver is the second most famous precious metal (after gold) that people purchase in the form of ornament or an investment in Mysore. It has given better returns than other precious metals like gold. Silver prices here have been rising even when the future trends of market and economics were uncertain. This precious metal has seen a stable trend all through the world even during fluctuations in precious metal market.
Silver in Mysore is called the "poor man's gold". People here buy silver in form of utensils, jewellery and also gift items. Rural areas use this as hedge against inflation. Price of silver in Mysore is indicator of rates across the country. Rates here are constantly changing and updated daily. The updated rates can be obtained from various financial websites or even from the dealers directly.
Silver can be bought from many places in the city like Nagaraja Shetty & Bros Jewellers, Mysore Silver Palace, Bhima & Brother, Sri Krishna Jewellery Mart, MGB Jewellers, Prakash Jewellers, Sri Shanti Jewellers, Jayadeva Jewellers, Sri Misri Jewellers, etc. All these places offer silver in all forms a customer would require like jewellery, ornament, coins bars or even customize the same for customer.
No Bank Accounts
It may be hard to believe but a certain percentage of Indian population does not exist in the system with respect to banking and taxation. As a result of which they cannot access a lot of instruments for investment. Hence, for them buying and selling of silver is a good investment option as the same can be done without too much of a hassle.
Cheaper than gold
Not everyone can afford to buy a sizable quantity of gold due to its high price. However it is not the case with silver, given the fact that it is cheaper than gold one can buy the same in large quantities, buying silver is thus feasible for many.
Storage is biggest concern for an investor when he/she buys silver in traditional form like bars and jewellery. One may be worried about security of keeping huge quantity of this precious metal at home. To overcome this situation e-silver products are an option which can be traded in NSEL.