Saturday, April 14, 2012

A Tale of Two Countries

I was just comparing the price of 99.9% pure silver between United States and India
and this is what I found:

HDFC Bank is selling silver grams of 50 grams of 99.9% purity:

The price as of today is Rs.4,270 per piece of 50 grams (Swiss make)

US Silver Eagle (99.9%) coin price: 35 dollars
1 dollar = Rs.51
So the price for 31.1 grams of silver is 35 x 51= Rs.1785
per gram: 57.60
for 50 grams: Rs.2880

Inference: In India 50 grams silver bar is costlier by Rs.1,390 ( 4270-2880)

OR, instead of buying 50 grams in India, we can buy 74 grams in USA!! 1390/57.6=24

Any of your comments?

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