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Today Silver Rates In Goa

25 Jan 2021

gold rate

₹64.93

( Per Gram )

gold rate

₹64927

1 Kg

TodayYesterdayChange(%)
1 gram64.9364.930.00%
10 gram64927649270.00%

Silver Rates In Goa for Last 90 Days

25 Jan 2021

Date1 gramBar Silver 1KG
2021-01-2565.9364,927
2021-01-2465.9364,927
2021-01-2365.9364,927
2021-01-2265.9364,927
2021-01-2165.9364,927
2021-01-2065.9364,927
2021-01-1965.9364,927
2021-01-1865.9364,927
2021-01-1765.9064,899
2021-01-1665.8964,891
2021-01-1567.3567,348
2021-01-1467.6666,665
2021-01-1367.8666,859
2021-01-1266.9665,961
2021-01-1167.8366,827
2021-01-1067.8366,827
2021-01-0966.5665,558
2021-01-0872.6071,595
2021-01-0771.9970,991
2021-01-0672.1972,185
2021-01-0571.1171,105
2021-01-0469.0869,080
2021-01-0369.0869,080
2021-01-0269.0869,080
2021-01-0169.8568,853
2020-12-3169.4469,443
2020-12-3069.7168,709
2020-12-2969.3769,367
2020-12-2868.2968,288
2020-12-2768.0268,019
2020-12-2668.0268,019
2020-12-2568.0468,041
2020-12-2468.0168,007
2020-12-2367.7566,749
2020-12-2269.2869,276
2020-12-2168.0368,034
2020-12-2068.0368,034
2020-12-1968.2268,216
2020-12-1868.3868,381
2020-12-1766.9065,898
2020-12-1665.5164,513
2020-12-1563.0163,015
2020-12-1463.2663,259
2020-12-1363.2663,259
2020-12-1263.3763,369
2020-12-1163.2863,279
2020-12-1063.6062,598
2020-12-0965.0765,068
2020-12-0865.0265,021
2020-12-0764.9663,958
2020-12-0664.9663,958
2020-12-0564.7063,702
2020-12-0463.4163,411
2020-12-0363.3863,384
2020-12-0263.0463,042
2020-12-0160.7959,788
2020-11-3058.3058,298
2020-11-0364.8563,845
2020-11-0263.6762,672
2020-11-0163.2063,195
2020-10-3163.1663,157
2020-10-3062.1762,170
2020-10-2962.1462,140
2020-10-2865.5864,582
2020-10-2764.4364,430
2020-10-2665.0565,047
2020-10-2565.0565,047
2020-10-2465.9664,963
2020-10-2365.1265,117
2020-10-2266.0466,040
2020-10-2165.2665,258
2020-10-2064.7463,735
2020-10-1964.5563,546
2020-10-1864.5563,546
2020-10-1764.7963,791
2020-10-1664.6263,624
2020-10-1564.7863,782
2020-10-1463.1563,151
2020-10-1366.9965,990
2020-10-1266.7265,716
2020-10-1166.7265,716
2020-10-1065.4465,444
2020-10-0963.6962,693
2020-10-0862.4562,450
2020-10-0762.3262,320
2020-10-0664.8463,839
2020-10-0562.2662,259
2020-10-0462.2662,259
2020-10-0363.5962,590
2020-10-0263.8862,882

Historical Price of Silver Rate In Goa

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

Silver Rates1 gram1 Kg
October 1st Rate63.1663,157
October 31th Rate62.0162,012
Highest October Rate66.0466,040
Lowest October Rate62.0162,012

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

Silver Rates1 gram1 Kg
November 1st Rate58.3058,298
November 30th Rate63.2063,195
Highest November Rate64.8563,845
Lowest November Rate58.358,298

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

Silver Rates1 gram1 Kg
December 1st Rate69.4469,443
December 31th Rate60.7959,788
Highest December Rate69.4469,443
Lowest December Rate60.7959,788

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

Silver Rates1 gram1 Kg
January 1st Rate65.9364,927
January 25th Rate69.8568,853
Highest January Rate72.1972,185
Lowest January Rate65.8964,891

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

Silver Rates1 gram1 Kg
September 1st Rate64.2064,199
September 30th Rate74.3974,389
Highest September Rate74.3974,389
Lowest September Rate60.1560,149

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

Silver Rates1 gram1 Kg
August 1st Rate73.3873,382
August 31th Rate65.4765,469
Highest August Rate78.178,105
Lowest August Rate65.265,200

Trend of Silver Rate in Goa for July 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 3rd Rate63.2263,224
July 31th Rate48.1348,130
Highest July Rate69.4869,482
Lowest July Rate48.1348,130

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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