New to gold investing? Pure silver that will be used in the jewelry industry then typically gets shipped to a wire factory. There it can be alloyed with other metal to produce sterling silver, also known as standard silver, which is 92.5% silver (the remainder typically composed of copper). Sometimes sterling silver is also referred to as 0.925 silver. The alloy is heated yet again to become soft, and drawn through specially cut dies to be formed into wire. Depending on the width of the die, different gauges of wire are created.
Gold logged a nearly 0.5% weekly rise and was up 18.8% for the year to date after hitting its highest level since 2011 earlier this month and moving within striking distance of its all-time high. Silver ended more than 3.7% higher for the week. Most-active gold and silver contracts logged a sixth straight weekly rise, according to FactSet data.
In the same way that customers like to purchase our VAT-Free silver coins and receive them at home to touch and feel, many enquired whether we could offer the same service for silver bars. As usual, you didn’t want to be defeated by rules, so as silver bar dealers came up with another solution! We’ve now sourced silver bars with a face value too! We like to call this range of bars â€˜coin bars’ as they enjoy some characteristics of both silver formats. We sell VAT-Free silver bars for delivery in 4 different sizes to suit your needs. Just like our VAT-Free coins, we ensure these special bars are sourced so that VAT isn’t applicable.
Although there are several ways one can buy gold, Indian consumers are fond of buying physical gold as the safest option. However, the restrictions, lockdowns and other measures due to the pandemic has dented physical demand for gold in India. In that case, Gold Accumulation Plans are the safest bets and the way it works. Mobile wallet providers like Paytm, PhonePe, Google Pay, etc. have started offering digital gold. These digital players are selling gold in collaboration with MMTC-PAMP. Some of them have collaborated with SafeGold, a digital platform that has tied up with various mobile wallet apps allowing customers to buy, sell and receive vaulted gold from as low as Re 1. Both MMTC-PAMP and SafeGold, offer gold of 24KT. However, in terms of fineness, MMTC-PAMP offers gold of 999.9 per cent purity whereas SafeGold offers 99.5 per cent purity.
Gold prices are steadily rising as investors start to raise their stimulus expectations on coronavirus second wave fears,â€ said Edward Moya, senior market analyst at Oanda, in a note. Gold is also starting to benefit from election risk, as Wall Street can’t ignore the polls anymore and is starting to price in the risk of a Biden presidency,â€ given presumptive Democratic nominee Joseph Biden’s lead over President Donald Trump in the polls.