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Today Silver Rates In Goa

31 Jul 2021

gold rate

₹67.67

( Per Gram )

gold rate

₹67674

1 Kg

TodayYesterdayChange(%)
1 gram67.6768.08-0.61%
10 gram6767468084-0.61%

Silver Rates In Goa for Last 90 Days

31 Jul 2021

Date1 gramBar Silver 1KG
2021-07-3168.6767,674
2021-07-3068.0868,084
2021-07-2966.4666,458
2021-07-2866.0366,034
2021-07-2767.1967,190
2021-07-2667.1367,131
2021-07-2567.1367,131
2021-07-2467.1867,177
2021-07-2368.7467,745
2021-07-2267.4167,409
2021-07-2167.5566,548
2021-07-2067.3567,346
2021-07-1969.6268,622
2021-07-1869.6368,627
2021-07-1769.6268,620
2021-07-1670.3170,311
2021-07-1570.9369,933
2021-07-1469.4769,471
2021-07-1370.0170,008
2021-07-1270.6469,641
2021-07-1170.6469,641
2021-07-1070.8569,848
2021-07-0969.4469,439
2021-07-0870.1170,113
2021-07-0770.1270,117
2021-07-0670.4470,443
2021-07-0571.5970,595
2021-07-0471.5970,595
2021-07-0371.6370,629
2021-07-0270.5569,553
2021-07-0170.5269,516
2021-06-3069.6468,643
2021-06-2969.4769,474
2021-06-2869.4269,415
2021-06-2769.3869,381
2021-06-2669.2069,205
2021-06-2569.0569,054
2021-06-2469.9168,908
2021-06-2369.7468,737
2021-06-2269.0669,060
2021-06-1969.7368,729
2021-06-1869.0869,084
2021-06-1772.2572,251
2021-06-1673.6872,675
2021-06-1573.0573,054
2021-06-1473.2573,248
2021-06-1373.2573,248
2021-06-1273.3573,349
2021-06-1173.0873,079
2021-06-1073.7872,782
2021-06-0972.2972,291
2021-06-0873.8472,835
2021-06-0773.6072,603
2021-06-0673.6072,603
2021-06-0572.4972,488
2021-06-0472.8371,834
2021-06-0374.5773,568
2021-06-0273.9272,920
2021-06-0173.8372,832
2021-05-3172.4172,407
2021-05-3072.4172,407
2021-05-2972.2072,201
2021-05-2873.5472,540
2021-05-2772.0972,091
2021-05-2673.9672,960
2021-05-2572.4472,445
2021-05-2472.9871,982
2021-05-2372.9871,982
2021-05-2272.0272,019
2021-05-2173.5872,576
2021-05-2073.9372,926
2021-05-1974.8573,852
2021-05-1874.9373,935
2021-05-1772.9871,979
2021-05-1672.9871,979
2021-05-1572.8671,855
2021-05-1471.2771,272
2021-05-1372.5571,547
2021-05-1272.4972,488
2021-05-1172.8871,875
2021-05-1072.0772,069
2021-05-0972.0772,069
2021-05-0872.0472,036
2021-05-0772.0472,039
2021-05-0670.9869,984
2021-05-0570.9269,924
2021-05-0471.0871,079
2021-05-0369.7768,772
2021-05-0269.7768,772
2021-05-0169.7768,772

Historical Price of Silver Rate In Goa

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

Silver Rates1 gram1 Kg
February 1st Rate70.3370,330
February 28th Rate65.9364,927
Highest February Rate76.6775,667
Lowest February Rate65.9364,927

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

Silver Rates1 gram1 Kg
March 1st Rate63.2363,235
March 31th Rate70.3370,330
Highest March Rate70.3770,369
Lowest March Rate63.2363,235

Trend of Silver Rate in Goa for April 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate69.3669,364
April 30th Rate64.9563,951
Highest April Rate72.5771,570
Lowest April Rate64.9563,951

Trend of Silver Rate in Goa for May 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate72.4172,407
May 31th Rate69.7768,772
Highest May Rate74.9373,935
Lowest May Rate69.7768,772

Trend of Silver Rate in Goa for June 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
June 1st Rate69.6468,643
June 30th Rate73.8372,832
Highest June Rate74.5773,568
Lowest June Rate69.6468,643

Trend of Silver Rate in Goa for July 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 1st Rate68.6767,674
July 31th Rate70.5269,516
Highest July Rate71.6370,629
Lowest July Rate66.0366,034

Introduction

When we think of Goa, the first thought that pops into our mind are the beaches and tourist spots. But, there’s more to Goa than it’s reputation as India’s favourite holiday destination. Goa's creative creations and traditional types of jewels tell us that it's a state of art with some of the oldest crafts & heritage in the world. The art of making gold and silver to make the most flattering types of jewellery ever seen is one of Goa's most dedicating crafts. Goan culture is unique in terms of traditional jewellery. It provides a wide variety of traditional jewellery pieces to be worn by everyone.

Silver is considered incredibly attractive in India. In India, it is used in jewellery and household goods making. Next to gold, the silver market is quite popular. Most shops sell a variety of silver jewellery and other articles. Investors who wish to make a fortune in the silver markets often have silver Futures and ETFs.

Silver is also a crucial ingredient in many industries. It is used in the manufacture of smartphones and tabs, the most common digital products of this generation. Silver is also a significant component in the development of photovoltaic panels for automobiles and solar panels.

International markets in India, which appear equally fluctuating on a daily basis, impact silver prices greatly. Indian rupee, which is also impacted by the value of US dollars, further influences silver rates.

Overview of Silver Availability in India

India's main source of silver is imported, but in Rajasthan and Jharkhand, we have a few silver mines. Silver is extracted from the mining of lead, zinc, copper and gold ores as a by-product.

In silver production, Mexico ranks number one, followed by Peru, Australia, China, Chile and many others. Silver supply has met demand since the late 1970s which has contributed to higher silver prices. In India, with the key fulfilment of silver demand by imports, the global supply factors have great effects on its price. Processes to enhance the recovery of silver and gold during the mining process are being introduced.

Silver Jewellery in Goa

Silver is not that expensive, so it is considered the 'poor man's gold'. Gold and silver are very affordable and not as expensive. They have many appealing styles and are easy to make. Due to their affordability, for many of their pieces of jewellery, people choose silver.

While silver is mostly purchased as jewellery, puja items and household goods are also some silver products purchased by customers. Silver has shown consistent returns over the years as a trustworthy metal.

Goa has some very famous jewellery stores like Shobha Jewellers, GM Jewellers, Shamrock Jewellers, and many more, who sell some fine silver jewellery and silver household articles.

Silver as a Gifting Option in Goa

Silver is also seen in Goa as a lovely gift. Special days often occur where people send other people presents. Silver coins are one of the most common options for birthdays, weddings, house warming, festivities, company gifts, etc. The bulk of jewellery stores are selling silver and silver coins. Silver coins may also be obtained from post offices and banks, which will be licensed and verified.

Although silver coins are a preferable alternative to gold, when sold, they are not valuable. You lose money as excess costs and have plenty to spend on items you plan to purchase or exchange. So many people don't appreciate silver coins.

Silver Futures Market in Goa

Silver Futures is an impressive trading prospect. Goa’s citizens can invest through the MCX network in the Silver Futures exchange. The Indian Multi-Commodity Exchange (MCX) is a cutting-edge commodity trading environment that presents an incentive to examine and impact consumer demand.

A Futures Contract is a legal agreement selling silver at a negotiated future date. The quantity, quality, time and place of sale will be calculated in proposed contractual agreements. Future Trading agreements usually take place on the market where a group agrees to buy and sell at a certain date a set of shares or products. You have to seek a broker who is a silver fund manager.

Silver trading has many options for the future. The first thing that is relevant is the stability compared to other investments. As money generally goes the other way, your capital losses will be paid for with potential profits. You will benefit from the demand rise in silver and need not care about security and purity with product distribution. Because these futures are exchanged aggressively, liquidity is not to be taken into consideration.

The downside is that low margins are excessive and allow you to lose a lot. It's still very difficult to cope with swings in the silver future to find the opportunity to reserve gains or reduce losses.

Silver ETFs in Goa

Since no Silver ETFs are listed on NSEs, the other way of investing in Silver ETFs is by investing in Silver ETFs in the US market, through ICICI Direct, Kotak and HDFC's international trading accounts. Please note that RBI allows up to $200,000 in foreign investment in shares and bonds each year. However, you need to take care of the nitty gritty of taxes and foreign exchange volatility as well. This is the key reason that Indians tend to invest in Indian stock markets rather than international ones. Brokerage and investment costs are also much higher when investing in the US stock market than the Indian one.

Factors affecting Silver rates in Goa

Silver prices in India are primarily influenced by global silver prices. Consequently, the effect on Goa prices from silver prices globally and in India is instructive.

Australia, Bolivia, Kazakhstan and Mexico are concentrated in silver deposits. It will lead to a higher supply disruption of silver in the two main mines because silver is still highly vulnerable.

Supply & Demand: The equation of supply and demand for silver is one reason why the metal is so important: supply is limited but demand continues. However, the underlying economic fact is that any raise or decrease in supply or demand will adjust prices in comparison with increases themselves. For example, if a strike stops a big supplier from mining, silver prices would escalate rapidly. Also, silver will create more revenue and increase market demand as in solar panels.

Technology: In reality, new technology is beginning to replace silver in more practical applications. For example, modern varieties of aluminium alloys are acceptable replacements to costly mirrors. In certain households, the same applies to commonly used stainless steel cookware instead of traditional silver products. Nevertheless, technology usually becomes a net bullish catalyst for silver production and prices for modern photovoltaic solar cells and diverse green applications.

Global economic trend: People invest a great deal on jewellery and products of precious metals such as silver during good economic times. This is perhaps the first time that salaries have been delayed, whether they stagnate or drop. Economic and growth levels are seen in developing markets as a key indicator of this demand segment. But costly products, including watches and fine joys, are still needed even in difficult economic times. High-end trend analyses also display the global trends of economics which influence silver prices.

Indian Rupee vs US Dollars: the US dollar usually has the opposite relation with silver values, as the world's leading currency. Silver market insiders see a long dollar history in which silver prices have been under attack. Currently, with the dollar high to medium, many seasoned consumers see the dollar fall by looking for sales bargaining prices.

FAQs

1. How to check Silver Live Rate on the CreditMantri website?

You can logon to CreditMantri’s Silver Rate page to check the Goa Live Silver Rate and make an informed decision about your Silver Investment based on the most up to date information available. Click on Community, select Resources and then go to Silver Rate. Here, you can find the state wise silver rates for the day.

2. What is the minimum purchase amount for silver futures on the MCX?

One can trade a minimum of 100 gms of silver on the MCX.

3. What are the timings to trade on NSEL?

You can trade on the NSEL from 10:00 AM to 11:30 PM.

4. What are the disadvantages of investing in silver jewellery?

The major disadvantage of purchasing silver jewellery is that a considerable amount of money is wasted when you exchange or resell the silver jewellery items. Also, you have to pay making charges and wastage for the new items you are going to purchase.

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