Interested in financial products
CreditMantri
Processing

Today Silver Rates In Daman and diu

02 Mar 2024

silver rate today india

₹73.58

( Per Gram )

silver price today

₹73582

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram73.5872.671.24%
10 gram73582726731.24%

Silver Rates In Daman and diu for Last 90 Days

02 Mar 2024

Date1 gramBar Silver 1KG
2023-11-27₹ 74.58₹ 73,582
2023-11-26₹ 73.67₹ 72,673
2023-11-25₹ 73.67₹ 72,673
2023-11-24₹ 71.78₹ 70,779
2023-11-23₹ 71.74₹ 70,738
2023-11-22₹ 71.04₹ 71,044
2023-11-21₹ 71.99₹ 70,988
2023-11-20₹ 71.68₹ 70,679
2023-11-19₹ 71.86₹ 70,857
2023-11-18₹ 71.86₹ 70,857
2023-11-17₹ 71.09₹ 71,085
2023-11-16₹ 70.58₹ 69,580
2023-11-15₹ 69.68₹ 68,676
2023-11-14₹ 67.72₹ 66,723
2023-11-13₹ 66.19₹ 66,185
2023-11-12₹ 67.50₹ 66,496
2023-11-11₹ 67.50₹ 66,496
2023-11-10₹ 68.75₹ 67,747
2023-11-09₹ 68.53₹ 67,531
2023-11-08₹ 67.38₹ 67,380
2023-11-07₹ 68.43₹ 68,435
2023-11-06₹ 69.10₹ 69,098
2023-11-05₹ 69.21₹ 69,214
2023-11-04₹ 69.21₹ 69,214
2023-11-03₹ 68.61₹ 67,606
2023-11-02₹ 69.56₹ 68,563
2023-11-01₹ 68.82₹ 67,817
2023-10-31₹ 69.41₹ 69,411
2023-10-30₹ 69.98₹ 68,983
2023-10-29₹ 69.13₹ 69,134
2023-10-28₹ 69.13₹ 69,134
2023-10-27₹ 68.10₹ 68,105
2023-10-26₹ 68.38₹ 68,383
2023-10-25₹ 68.39₹ 68,388
2023-10-24₹ 69.74₹ 68,735
2023-10-23₹ 69.01₹ 69,012
2023-10-22₹ 70.74₹ 69,744
2023-10-21₹ 70.74₹ 69,744
2023-10-20₹ 69.83₹ 68,834
2023-10-19₹ 68.16₹ 68,163
2023-10-18₹ 69.55₹ 68,549
2023-10-17₹ 67.02₹ 67,017
2023-10-16₹ 68.51₹ 67,505
2023-10-15₹ 68.82₹ 67,819
2023-10-14₹ 68.82₹ 67,819
2023-10-13₹ 65.33₹ 65,328
2023-10-12₹ 66.98₹ 65,978
2023-10-11₹ 65.22₹ 65,222
2023-10-10₹ 65.24₹ 65,237
2023-10-08₹ 65.50₹ 64,495
2023-10-07₹ 65.50₹ 64,495
2023-10-06₹ 63.72₹ 62,716
2023-10-05₹ 63.23₹ 63,228
2023-10-04₹ 63.74₹ 62,737
2023-10-03₹ 62.21₹ 62,210
2023-10-02₹ 65.46₹ 65,463
2023-10-01₹ 66.09₹ 66,091
2023-09-30₹ 66.20₹ 66,205
2023-09-29₹ 68.63₹ 67,626
2023-09-28₹ 67.20₹ 67,202
2023-09-27₹ 68.20₹ 68,203
2023-09-26₹ 69.80₹ 68,801
2023-09-25₹ 70.10₹ 70,099
2023-09-24₹ 70.17₹ 70,166
2023-09-23₹ 70.17₹ 70,166
2023-09-22₹ 70.72₹ 69,721
2023-09-21₹ 69.92₹ 68,924
2023-09-20₹ 69.04₹ 69,039
2023-09-19₹ 69.35₹ 69,353
2023-09-18₹ 69.91₹ 68,914
2023-09-17₹ 69.58₹ 68,579
2023-09-16₹ 69.58₹ 68,579
2023-09-15₹ 68.19₹ 68,185
2023-09-14₹ 68.17₹ 68,172
2023-09-13₹ 68.30₹ 68,296
2023-09-12₹ 69.63₹ 68,634
2023-09-11₹ 68.48₹ 68,483
2023-09-10₹ 68.34₹ 68,343
2023-09-09₹ 68.34₹ 68,343
2023-09-08₹ 69.86₹ 68,858
2023-09-07₹ 69.05₹ 69,052
2023-09-06₹ 70.98₹ 69,984
2023-09-05₹ 71.83₹ 70,829
2023-09-04₹ 72.70₹ 71,697
2023-09-03₹ 72.71₹ 71,708
2023-09-02₹ 72.71₹ 71,708
2023-09-01₹ 73.67₹ 72,672
2023-08-31₹ 73.01₹ 73,009
2023-08-30₹ 73.06₹ 73,057
2023-08-29₹ 72.74₹ 71,744
AXIS NEO

Historical Price of Silver Rate In Daman and diu

Trend of Silver Rate in Daman and diu for November 2023 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
November 1st Rate74.5873,582
November 27th Rate68.8267,817
Highest November Rate74.5873,582
Lowest November Rate66.1966,185

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.

GradeFineness

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.

People Also Ask Silver Rate 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.
×Thank you! Your comment will be reviewed and posted shortly.