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Today Silver Rates In Andaman and nicobar

08 Mar 2021

gold rate

₹66.24

( Per Gram )

gold rate

₹66236

1 Kg

TodayYesterdayChange(%)
1 gram66.2466.240.00%
10 gram66236662360.00%

Silver Rates In Andaman and nicobar for Last 90 Days

08 Mar 2021

Date1 gramBar Silver 1KG
2021-03-0866.2466,236
2021-03-0766.2466,236
2021-03-0666.1466,139
2021-03-0566.8265,815
2021-03-0469.7968,788
2021-03-0370.4470,439
2021-03-0270.6569,648
2021-03-0170.4070,400
2021-02-2870.4070,400
2021-02-2770.0170,010
2021-02-2672.0272,021
2021-02-2572.2772,274
2021-02-2472.5071,499
2021-02-2373.7772,772
2021-02-2271.9470,944
2021-02-2171.9470,941
2021-02-2071.8770,866
2021-02-1971.2271,220
2021-02-1871.2271,220
2021-02-1771.2271,220
2021-02-1671.2271,220
2021-02-1571.2271,220
2021-02-1471.2271,220
2021-02-1371.0271,016
2021-02-1270.3070,305
2021-02-1171.6770,669
2021-02-1071.2071,204
2021-02-0972.7271,719
2021-02-0870.2670,258
2021-02-0770.2170,205
2021-02-0670.2070,198
2021-02-0569.7968,791
2021-02-0470.8769,875
2021-02-0369.4469,439
2021-02-0276.7575,743
2021-02-0165.9964,992
2021-01-3165.9964,992
2021-01-3065.9964,992
2021-01-2965.9964,992
2021-01-2865.9964,992
2021-01-2765.9964,992
2021-01-2665.9964,992
2021-01-2565.9964,992
2021-01-2465.9964,992
2021-01-2365.9964,992
2021-01-2265.9964,992
2021-01-2165.9964,992
2021-01-2065.9964,992
2021-01-1965.9964,992
2021-01-1865.9964,992
2021-01-1765.9664,964
2021-01-1665.9564,956
2021-01-1567.2267,218
2021-01-1467.7366,732
2021-01-1367.9366,926
2021-01-1266.0366,027
2021-01-1167.9066,894
2021-01-1067.9066,894
2021-01-0966.6365,624
2021-01-0872.6771,667
2021-01-0771.0671,062
2021-01-0672.2672,257
2021-01-0571.1871,176
2021-01-0469.1569,149
2021-01-0369.1569,149
2021-01-0269.1569,149
2021-01-0169.9268,922
2020-12-3170.5169,512
2020-12-3069.7868,778
2020-12-2969.4469,436
2020-12-2868.3668,356
2020-12-2768.0968,087
2020-12-2668.0968,087
2020-12-2568.1168,109
2020-12-2468.0868,075
2020-12-2367.8266,816
2020-12-2269.3569,345
2020-12-2168.1068,102
2020-12-2068.1068,102
2020-12-1968.1268,116
2020-12-1868.4568,449
2020-12-1766.9765,964
2020-12-1665.5764,578
2020-12-1563.0763,078
2020-12-1463.3263,322
2020-12-1363.3263,322
2020-12-1263.4363,432
2020-12-1163.3463,342
2020-12-1063.6662,661
2020-12-0965.1465,133

Historical Price of Silver Rate In Andaman and nicobar

Trend of Silver Rate in Andaman and nicobar for October 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
October 1st Rate63.2263,220
October 31th Rate62.6761,669
Highest October Rate66.1166,106
Lowest October Rate62.6761,669

Trend of Silver Rate in Andaman and nicobar for November 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
November 1st Rate58.3658,356
November 30th Rate63.2663,258
Highest November Rate64.9163,909
Lowest November Rate58.3658,356

Trend of Silver Rate in Andaman and nicobar for December 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
December 1st Rate70.5169,512
December 31th Rate60.8559,848
Highest December Rate70.5169,512
Lowest December Rate60.8559,848

Trend of Silver Rate in Andaman and nicobar for March 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate66.2466,236
March 8th Rate70.4070,400
Highest March Rate70.4470,439
Lowest March Rate66.8265,815

Trend of Silver Rate in Andaman and nicobar for February 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate70.4070,400
February 28th Rate65.9964,992
Highest February Rate76.7575,743
Lowest February Rate65.9964,992

Trend of Silver Rate in Andaman and nicobar for January 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
January 1st Rate65.9964,992
January 31th Rate69.9268,922
Highest January Rate72.2672,257
Lowest January Rate65.9564,956

Trend of Silver Rate in Andaman and nicobar for September 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
September 1st Rate64.3064,308
September 30th Rate74.4674,464
Highest September Rate74.4674,464
Lowest September Rate60.2160,209

Trend of Silver Rate in Andaman and nicobar for August 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
August 15th Rate73.4573,455
August 31th Rate71.9770,968
Highest August Rate75.6474,640
Lowest August Rate70.8469,843

Introduction

Andaman and Nicobar are one of the prime tourist spots in our country. Although being away from the mainland, these islands have a very rich culture and also a thriving demand for silver and gold. This demand includes the local demand for silver and the demand on account of tourism. Silver and gold has been used as part of the traditional ceremonies as well as seen as an accessory of royalty in the islands

The details of the rates of silver in the Andaman and Nicobar islands and the related aspects of silver are mentioned below

Prices of Silver in Andaman and Nicobar

Silver rates in the islands like any other part of the country are ever changing and customers have to keep a track of the same to ensure that they purchase silver at the best possible price.

Where to purchase Silver in Andaman and Nicobar?

Silver can be purchased through multiple sources available on the islands. It is essential that these sources are certified and authentic in order to ensure that the silver purchased is genuine. This way, customers can ensure that they do not lose money on their purchases. The various sources of purchasing silver in the Andaman and Nicobar islands are,

  • Authorized sellers
  • Jewelers
  • Banks
  • E-commerce portals

Customers have to ensure that the silver purchased has the following markings for it to be pure and authentic and have a good resale value.

  • BIS (Bureau of Indian Standards) Mark
  • Jeweler’s / Manufacturer’s Identification Symbol
  • Assay Centre’s identification mark
  • Purity Grade Indicator
  • Marking Year

Factors Influencing the Prices of Silver

There are many factors that affect the rates of silver and force it to change on a daily basis. These factors can be external or intrinsic factors that have a direct influence on the rates of silver. These factors are multifaceted and have to be studied thoroughly to make a correct judgment of the prices of silver.

Some of such factors are detailed below.

Silver Demand

The demand for silver is the driving force that influences the prices of silver. Such demand for silver includes the personal demand or the demand for industrial or commercial purposes. Demand for this precious metal is always measured in cumulative form. Cumulative form includes silver in all its available forms mentioned below.

  • Coins
  • Bars
  • Household items
  • Jewellery  

Ancillary or Associated Costs

There are many costs associated in procuring and processing of silver. These costs are directly proportional to the prices of this metal. With the increase in such costs and other costs like marking costs, import costs, warehousing costs, etc., the rates of silver also increases.

Gold Prices

Gold prices are also another factor influencing the silver rates. The prices of these two metals are always in sync and silver prices follow the trend of the gold prices. Both these metals are traded on the commodity market.

Inflation

The inflation of any country is another major factor affecting the prices of silver. Inflation rate is in proportion to the prices of silver in any market.

External factors

External factors are the factors that are not directly related to the procuring or processing of this metal but still affect its prices. These factors are mentioned below

  • Geo-political scenario
  • Import and Export Policies
  • Government Policies
  • Dollar Fluctuations
  • Crude Oil Prices
  • Foreign Policies

In the current scenarios, the prices of silver are further affected by the pandemic as gold and silver are considered as steady investment options. These prices were on an increasing trend but with the introduction of the first vaccine in the market, silver prices have now reduced from its previously high levels.

Points to be Considered while Purchasing Silver

There are several considerations while purchasing silver that need to be factored in so as to get the best rate for silver as well as the metal in its desired form or purity. These considerations are mentioned below.

  • The form in which silver is to be purchased
  • Purpose of purchasing silver whether for personal use or for investment purposes.
  • Purchasing silver from a trusted and verified source
  • Tracking the daily rates of silver to know the latest prices and get the best rate for the metal.
  • Making sure that the metal to be purchased has all the essential markings to ensure that it is authentic and pure.

FAQs - Silver Rate in Andaman and Nicobar

1. What is the current rate of 1 kg silver in Andaman and Nicobar?

The current rate of silver of 1 kg in Andaman and Nicobar is Rs. 67,700 as on 18th November, 2020.

2. What are the purity levels that are allotted to silver?

Silver is graded on the basis of its purity. The rate of silver is also determined on the basis of its purity. The highest purity level of silver is 99.9%. The various grades or purity allotted to silver are tabled below.

Grade

Fineness

9999

999.9

9995

999.5

999

999.0

990

990.0

970

970.0

925

925.0

900

900.0

835

835.0

800

800.0

3. What is the best time to purchase silver in Andaman and Nicobar?

Silver is considered as a steady investment at any time and hence can be purchased by tracking the prices to make the purchase at the correct time.

4. Can silver be purchased for purposes other than personal reasons?

Yes. Silver can be purchased for personal as well as industrial and commercial purposes. Silver has also found a place in ceremonies and rituals across the country and is considered to be an auspicious offering or gift at such occasions.

5. What are the various tests that can be performed on silver to ensure that it is authentic or pure?

Buyer or jewelers perform various tests on silver before it is purchased to test the purity of the metal and determine its price accordingly. Some of such tests that can be easily performed to determine the purity of silver are mentioned below. Magnet test Under this test, the buyer can run a magnet over the metal to be tested. On doing so if the metal gets attracted to the magnet, such metal is not pure and has some other metal or alloy in combination. Ice test Ice test requires the buyer to place a cube on the silver to be tested. If the metal makes the ice cube to melt at a higher or a faster pace, then such metal is pure. Stink test Silver has no odor so if the metal to be tested has some odor then such metal is not considered to be pure

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