Skip to main content

Silver Mining in India

 

Silver has been a mainstay of human civilization for thousands of years now. Along with gold, it was synonymous with money for most of the past and still holds value as a means of investment for many. Silver is primarily mined for industrial purpose, however the demand for the metal is also strong from consumer quarters in terms of savings and investment instrument.

Silver in India

Silver is ingrained in the psyche of Indians with the precious metal being used in religious ceremonies, festivals, weddings and many other cultural events. Even the name of the Indian currency 'Rupee' is derived from the Sanskrit word for silver, which is 'Rupya'. As such, silver has always attracted a fair bit of attention from the Indian population and comes second only to gold in terms of precious metals in the country.

Silver is also used as a form of savings and investment in India. It is popular with the rural populace who invest in the metal to secure their savings against inflationary or volatility risks. Silver is bought in the physical form as coins, jewellery, ornaments, utensils etc. and kept as a savings instrument by consumers.

Silver Mining

This precious metal is mined as a mixture in ores along with other metals such as copper, gold, lead, zinc, sulphur, antimony, arsenic or chlorine. Silver has been mined since the 4th millennium BC since its use in the making of coins had made it a lucrative business. In fact, silver mines have attracted as much crowd rush as the discovery of any gold mine throughout history.

Silver mining is mainly concentrated in a handful of countries. Industrial by-product accounts for more than 80% of all silver production in the world. Mexico is the world leader in terms of silver production from mines, followed by countries such as Peru, Australia, China, Chile, Bolivia and Russia among others.

Since the 1980's, silver production has been outpaced by consumption giving rise to rates over the years. Exclusive silver mining forms a paltry 20% of overall silver production, with the main demand arising from industrial needs.

India doesn't have rich deposits of silver and most of the silver production is as byproduct in the production of metals like zinc, lead, copper and gold. Zawar mines in Udaipur is the largest silver producing mine in the country, while other important sources include Hindustan Zinc Smelter, Tundoo Lead Smelter, Hindustan Copper Limited etc. Most of the silver consumption in India is driven by imports.

Silver rates in India

Silver rates in India through the years have been affected by global price movements of the commodity. Silver rate is closely related to gold rate in terms of price dynamics. As a thumb rule, rise in gold rates have affected similar rate hikes of silver.

Silver rates in India are a result of a large number of variables at play. The rise in industrial sector in the country has increased the industrial demand of the commodity. Other commodities such as gold and oil prices also influence silver rates in the country and globally as well. Apart from these, import duties are also important in deciding silver rates in the country. As most of the silver is imported, import duties have a high impact on final silver rates in India.

-----------------------------------------------------
Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are:

Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan
It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

ICICI Prudential Balanced Fund

 ICICI Prudential Balanced Fund scheme seeks to generate long-term capital appreciation and current income by investing in a portfolio that is investing in equities and related securities as well as fixed income and money market securities. The approximate allocation to equity would be in the range of 60-80 per cent with a minimum of 51 per cent, and the approximate debt allocation is 40-49 per cent, with a minimum of 20 per cent. An impressive show in the last couple of years has propelled this fund from a three-star to a four-star rating. The fund has traditionally featured a high equity allocation, hovering at well over 70 per cent, which is higher than the allocations of the peers. But in the last one year, the allocation has been moderated from 78-79 per cent levels to 66-67 per cent of the portfolio. ICICI Prudential Balanced Fund appears to practise some degree of tactical allocation based on market valuations. Within equities, well over two-thirds of the allocation is parked i...
Read more

Mutual Fund Review: Religare Tax Plan

Tax Plan is one of the better performing schemes from Religare Asset Management. Existing investors can redeem their investment after three years. But given the scheme's performance, they can continue to stay invested   Given the mandated lock-in period of three years, tax saving schemes give the fund manager the leeway to invest in ideas that may take time to nurture. Religare Tax Plan's investment ideas revolve around 'High Growth', which the fund manager has aimed to achieve by digging out promising stories/businesses in the mid-cap segment. Within the space, consumer staples has been the centre of attention for the last couple of years and can be seen as one of the key reasons for the scheme's outperformance as compared to the broader market. It has, however, tweaked its focus and reduced exposure in midcaps as they were commanding a high premium. The strategy seems to have worked as it returned a 22% gain last year. Religare Tax Plan has outperformed BSE 100...
Read more

Stock Dividend Yields

During a bull run, it’s very easy to ignore stocks with high dividend yields. After all, what could be more enticing than a growth stock? But in times of crisis, these boring ones tend to be the most sought after. The reason being that not only do dividends provide a cushion when the market is in the doldrums but such stocks also tend to fall less. The lure of dividend yield stocks is not easy to ignore. These stocks offer capital appreciation as well as cash payments. But logically, any company that pays a substantial portion of its earnings in dividends is reinvesting less and, therefore, would grow at a slower pace. So the trade-off is between higher dividend yields for lower earnings growth. On the other hand, companies with high growth potential and volatile earnings tend to pay less by way of dividends, if at all. Such companies would rather reinvest their earnings to sustain their growth. The capital appreciation of growth stocks is obviously higher than in dividend yield ones. ...
Read more

Women need to plan for Retirement

Plan for Retirement Online       Higher life expectancy, lower pay and fewer work years necessitate thorough planning.   Women have raced ahead of men in various fields but, when it comes to retirement planning, they tend to lag behind. Despite saving a higher proportion of their salary, compared to men, women generally do not take retirement planning seriously. Below are some of the reasons why they should: According to the United Nations Department of Economic and Social Affairs, in India, the life expectancy of women is 69 years and, of men, it's 66 years. Due to this, a woman will need an additional `55 lakh to manage her living expenses (see table).Besides, usually, women work fewer years compared to men to take care of children and family.Further, a recent study by Korn Ferry Hay Group shows that women in India earn 18.8% less than men. Not to mention, a higher life expectancy can also mean higher medical expenses as the likelihood of health ailments such as diabetes, high...
Read more

Tax Planning: Income tax and Section 80C

In order to encourage savings, the government gives tax breaks on certain financial products under Section 80C of the Income Tax Act. Investments made under such schemes are referred to as 80C investments. Under this section, you can invest a maximum of Rs l lakh and if you are in the highest tax bracket of 30%, you save a tax of Rs 30,000. The various investment options under this section include:   Provident Fund (PF) & Voluntary Provident Fund (VPF) Provident Fund is deducted directly from your salary by your employer. The deducted amount goes into a retirement account along with your employer's contribution. While employer's contribution is exempt from tax, your contribution (i.e., employee's contribution) is counted towards section 80C investments. You can also contribute additional amount through voluntary contributions (VPF). The current rate of interest is 8.5% per annum and interest earned is tax-free. Public Provident Fund (PPF) An account can be opened wi...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now