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Today Silver Rates In Daman and diu

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 Daman and diu 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 Daman and diu

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

Silver Rates1 gram1 Kg
September 1st Rate64.2664,264
September 30th Rate74.4674,464
Highest September Rate74.4674,464
Lowest September Rate60.2160,209

Trend of Silver Rate in Daman and diu 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

Silver is traditionally one of the most precious metals that historically has a huge demand in our country. This metal along with gold has been part of our culture and heritage not just as precious metal but also as an auspicious one. Silver is also used as offerings to the deity as well as a great source of gift on various occasions like weddings or any other important ceremonies. Recently, silver has grown in popularity as the most sought-after choice for corporate gifts.

Silver is also a great mode of investment and is heavily traded in the commodities market and the prices of silver thus change or fluctuate on a daily basis. The details of the rate of silver in the Union Territory of Daman and Diu are mentioned below.

Prices of Silver in Daman and Diu

The current prices of silver in the Union Territory of Daman and Diu were on an increasing trend for many months on a stretch. However, with news regarding the success of a vaccine for the COVID-19 pandemic, these rates have reduced drastically.

How find authorized silver merchants in Daman and Diu?

Silver has to be pure and genuine to be of best quality and get the best rate at the time of resale. For this purpose, silver has to be bought or sold to authorized merchants who assure the customer about the genuineness of the transaction. Following are some of the authorized sellers and buyers of silver that can be approached by the customers.

  • Authorized sellers
  • Private dealers
  • Certified jewelers
  • Banks
  • Certified E-Commerce Portals

Forms of Silver

The silver form is one of the important factors to be considered in purchasing or investing in silver. If silver is to be purchased for investment or personal uses, different forms of such silver is preferred depending on the purpose.

For Personal Use

When silver is intended to be purchased for personal uses or consumption, the form of silver is largely irrelevant. Customers can choose from any of the available forms as per their preference. These forms of silver are,

  • Silver coins
  • Silver bars 
  • Silver bullions
  • Silver jewellery
  • Silver household items

For investment purposes

When Silver is to be purchased for investment purposes, the best form of silver is either silver coins or silver bars or bullions. These forms of silver will ensure that the customers will get maximum return on their investment. Silver in such form is most pure and without any adulteration. There will be no unnecessary reduction in the value of the metal due to the presence of any other metal or precious stones like in case of silver jewellery.

Investment in Silver

Silver as an investment is highly favoured. It does not have as high prices as that of gold and thus can be bought in bulk. The only additional cost in such cases is the storage or the warehousing cost which is again not as exorbitant.

Silver can be bought in the forms mentioned above for investment in case of retail customers. For customers who prefer to trade in silver, the best option for them is to trade in the ETF or the Exchange Trade Funds or future or commodity markets. There is no ETF in our country so customers have to trade on an ETF in the US market after proper registration and approval.

Futures and commodity markets like MCX and NCDEX allow customers to trade in silver in lot sizes of 1 kg each. Such trades are not in the nature of spot contracts and hence are not deliverable immediately.

Understanding the Purity of Silver

Purity of silver is of great importance to get maximum returns on investment in silver. If silver is of higher grade and purity, the value of such silver is higher and the customer gets assured return on investment made. Silver is graded on the basis of percentage. The various grades of 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

Authorized buyers and sellers of silver assure the customers of the desired purity of the silver to be bought or sold. These trusted sources of silver certify the metal through certain markers. Customers have to ensure that the metal has all the necessary authentication markings for it to be genuine and of assured purity.

Following are the various markings that can be found on the metal to determine its authenticity.

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

While purchasing or selling silver, customers can perform certain basic tests to ascertain the purity of the metal.

Following are the basic tests that can be easily performed and are also easy to understand. Customers can get immediate results to determine the authenticity of the metal.

  • Magnet test is when the customer will run a magnet on the metal. If the metal attracts the magnet, it is not pure and has certain other metal(s) or alloy in combination with silver.
  • Stink test is another test to be done on silver. If silver has some odor then it is not pure.
  • Ice test requires placing an ice cube on the metal to be tested. If the ice cube melts at a faster pace, then such silver is pure.

FAQs – Silver rate in Daman and Diu

1. What are the various ways in which a person can maximize their profit on investment in silver?

There are many ways to maximize the profit on investment in silver by considering the following factors in purchase and sale of silver.

  • To track the daily price of silver to assure maximum returns on investment.
  • Determine the best form of silver to be purchased in (preferably silver coins, bars or bullions) which ensures maximum returns on investment without any reduction in value of silver due to any other precious stones or marking and melting costs.
  • Ensuring proper certification to assure the genuineness of transaction and purity of the metal
  • Buying and selling silver through authorized dealers, sellers, jewelers and banks or certified e-commerce portals.

2. What are the ancillary costs involved in factoring silver prices?

Ancillary costs are associated costs that affect the prices of silver directly. These costs are mining costs, import costs or storage or warehousing costs.

3. What are the factors that affect silver prices in Daman and Diu?

Factors affecting silver prices in the union territory of Daman and Diu are mentioned below.

  • Ancillary costs
  • Demand and supply dynamics
  • Inflation
  • Gold rates
  • Dollar fluctuations
  • Fluctuations in Crude Oil prices
  • Geo-political scenarios
  • Import and Export policies
  • Government policies

4. Can a person buy silver online?

Yes. There are many certified e-commerce portals selling pure and certified silver.

5. Why is silver preferred as an investment as compared to gold?

Silver is priced much lower as compared to gold and is hence preferred as an investment as compared to gold.

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