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Today Silver Rates In Lakshadweep

23 Apr 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 Lakshadweep for Last 90 Days

23 Apr 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 Lakshadweep

Introduction

Lakshadweep is a group of 36 islands in the southern part of India. It is known for its exotic beaches and lush green outdoors. The name Lakshadweep in Malayalam and Sanskrit means ‘a hundred thousand islands’. It is India’s smallest union territory and is spread over an area of 32 sq km. This uni-district union territory is made up of 12 atolls, five submerged banks, ten inhabited islands and three reefs in all. The capital city is Kavaratti and is also the principal town. Lakshadweep attracts thousands of tourists because of its natural landscapes, sandy beaches, flourishing flora and fauna and a laid-back lifestyle that enhances the mystique of this union territory.

Lakshadweep is one of the most sought-after places for purchasing various silver artefacts, utensils and jewellery. Considering the ongoing silver rate in Lakshadweep, you are sure to purchase many silver items while travelling there. Apart from this, the place also sees daily trading of silver which influences the price movements. Here is all you need to know about the silver rate in Lakshadweep.

Silver Demand in Lakshadweep

Lakshadweep may have a small population size, but when it comes to silver demand, this union territory is not far behind from the rest of the country. People of Lakshadweep prefer to invest in silver coins, silver utensils, etc. Since they heavily invest in silver commodities, they also constantly keep themselves updated about the ongoing silver rate in Lakshadweep.

Lakshadweep also sees heavy silver trading daily. Multiple traders in Lakshadweep trade with silver and the trading is often in kilograms especially when the metal is bought and sold in bulk. Customers in Lakshadweep use measurements of 10 grams and 100 grams while purchasing silver.

Silver Rates Trend in Lakshadweep

For buying silver in large quantities in Lakshadweep, investors must look at the historical rates instead of focusing on the rates of the past few days. A 6-month rate trend will give a good perspective on silver prices. The price of silver may fluctuate depending on the factors such as international prices, ongoing geopolitical issues, etc.

Traders of silver in Lakshadweep keep a check on the opening and closing rates of the metal. The highest and lowest prices are also considered while making a deal. Serious investors of silver focus on technical analysis by gathering data around the prices of silver in the state.

What influences daily silver rates in Lakshadweep?

The union territory of Lakshadweep has seen heavy demand for silver in the past few years. This is mainly because of high gold prices and the affordability of silver as compared to gold. Silver demand in Lakshadweep is on a constant rise as individuals prefer to invest in silver instead of buying artificial jewellery. Since investors never got heavy returns on silver, the demand for this metal was always a concern. However, investors have been optimistic about fetching good resale value for this precious metal and have therefore been investing in silver over the past few years.

The futures market often sees a heavy silver demand due to multiple revenue-generating opportunities that this metal offers. In commodity exchanges, silver investments are preferred for good long-term returns.

How to buy silver in Lakshadweep?

Silver can be bought and sold in Lakshadweep in various measuring units. Silver trading or dealing happens in the same way as gold trading. Silver is weighed with relevant measuring tools and the latest prices are applied before closing on the deal. Silver investment is a wise decision this year since the stock market and equity investments have been hit hard since the advent of the Covid-19 pandemic. A lot of investors have moved away from the traditional equities investments to trading in precious metals.

Silver prices can be seen recovering from a sudden drop in the past few years. As the dependency on bullion is on a rise, the value of silver is seeing an upward trend in the market lately. The white metal has hit many highs in the market since the value of the dollar is heavily impacted by the COVID-19 pandemic which was declared at the start of this year.

Silver prices are affected by many factors in the bullion market. Since the global economy is seen to be struggling, regular stimulus packages are being announced by various governments and central banks of countries. This has helped to pump up the silver rates in the market. While the silver price fluctuations are dependent on various international trends, silver is considered to be a strong investment by investors as they expect a higher return in the long run.

FAQs

1. How is silver measured in Lakshadweep?

Lakshadweep sees buying and selling of silver in grams, tolas, sovereigns, pavans, ounces and kilograms. 1 gram of silver is equal to 1000 milligrams. 1 tola of silver is equal to 11.6638038 grams, 1 sovereign of silver is equal to 8 grams, 1 pavan of silver is equal to 8 grams, 1 ounce of silver is equal to 31.1034768 grams, 1 kg of silver is equal to 1000 grams.

2. Why is there a rise in silver rates in Lakshadweep?

The ongoing market volatility and the impact on currency markets, especially the Dollar, international silver rates have been on a constant rise lately. This, in turn, has impacted prices of silver in Lakshadweep.

3. Why do investors prefer to buy silver coins/bars in Lakshadweep?

Since the existing monetary policies have pushed the value of various currencies down, silver investment is expected to fetch strong returns. Silver coins are easily verifiable and can be liquidated when there is a financial need. Silver bars are very easy to carry around and transport, and help investors to diversify their portfolio with good returns on it.

4. Is silver preferred over gold investment in Lakshadweep?

Yes. Silver is constantly being preferred as an investment in Lakshadweep as gold prices have remained unaffordable for most investors in the state. Silver is also considered to have higher returns in the long turn and therefore remains a favourite among investors in the union territory.

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