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Factors affecting silver price in Tamil nadu

in this ppt we describe the Factors affecting silver price in Tamil nadu

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Factors affecting silver price in Tamil nadu

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  1. Factors affecting silver price in Tamil nadu

  2. Introduction • Just like gold, the price of silver varies based on the relation between supply and demand as well as other economic factors. • The price of silver reached its peak some years ago between around 2008-2012 but it has been established since then. • following are a few factors that contribute to the price of silver in Tamil nadu.

  3. Industrial demand • Unlike its yellow counterpart, industrial demands make up most of the worldwide demand for silver. • Silver is used in every day gadgets like cell phones, touch screens, televisions as well as solar panels, RIFD chips for tracking global shipments and parcels, and nuclear reactors where its use cannot be replaced by any other metal. • The medical industry also accounts for silver demand. • These factors continue to drive demand for the metal and impact the price of silver.

  4. Investment demand • The price of gold is determined largely by its investment demand. • Although the same cannot be said for silver, many investors see it as a long term investment, due to increasing demand and depleting resources. • This has made it an attractive metal to invest in and has led investors to stock this precious metal.

  5. Import costs: • Tamil nadu does not have substantial natural deposits of silver and meets a huge proportion of its silver needs through imports. • This means that import rates affect the price of silver within the country. • Since trading takes place in US dollars, a stronger dollar makes buying silver more expensive in Tamil nadu.

  6. conclusion • The information on the prices of silver rate is merely indicative and is susceptible to change with market value. • There are many silver jewellery shops in Madurai where you can find good quality silver at an affordable price.

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