Silver rate today: Silver price today is extending its unstoppable rally, jumping over 6% to scale a lifetime high on the MCX, scaling past the ₹2.5 lakh mark.
The silver price rally in India is in line with the global markets, where silver rate today crossed the $80 per ounce mark for the first time earlier this morning before getting pulled back due to profit-booking and geopolitical tensions.
Silver price today
Silver rate today extended their record-breaking rally for a sixth straight session on Monday, surging about 6% to scale a record high of ₹2,54,174 per kilogram in futures trade amid strong investor demand and bullish global trends.
The white metal has been witnessing robust buying interest from traders, tracking firm trends in the international markets.
As investors and traders come forward to make the most out of the silver rally and buy the precious metal, here is how you can invest in silver in India.
Buy physical silver
Indians have traditionally invested in physical silver, including coins, bars, and jewellery. In our culture, we traditionally buy silver coins or idols to bring in goddess Lakshmi or wear them as ornaments. Other than its emotional or religious value, silver also comes as a source of wealth.
Investing in physical silver can be beneficial especially during a rally, but it may come with some issues. It takes up more storage space, and there is always a risk of theft or loss. Silver ornaments or coins also require a making charge which cannot be retrieved if you plan to sell it.
Get digital silver
Several online platforms now have the option for investors to buy digital silver. With this, investors can buy small, fractional quantities of silver that can be stored with the custodian of the company. It is an easy entry point for those who are looking to buy silver in India for the first time, but may come with its own risks. Investing in silver digitally is not that regulated, and so it is best for short-term holding.
Silver ETFs and mutual funds
Silver ETFs and mutual funds are one of the most secure and practical ways to invest in silver in India. A silver ETF is a fund that primarily invests in physical silver and linked instruments.
A silver ETF must meet London Bullion Market Association (LBMA) standards: 30 kg bars of 99.9% purity — making it reliable. The net asset value of silver ETFs is calculated daily, providing clarity to investors and they can accordingly buy or sell silver stocks anytime during market hours.
Thus, to invest in silver in India, it is best to consider diversifying your allocation in silver ETFs, digital silver and physical silver.