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Today Silver Rates In Nagaland

26 Jun 2022

silver rate today india

₹59.34

( Per Gram )

silver price today

₹59342

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram59.3458.880.78%
10 gram59342588800.78%

Silver Rates In Nagaland for Last 90 Days

26 Jun 2022

Date1 gramBar Silver 1KG
2022-06-26₹ 59.34₹ 59,342
2022-06-24₹ 59.88₹ 58,880
2022-06-23₹ 60.00₹ 60,001
2022-06-21₹ 60.37₹ 60,367
2022-06-20₹ 61.65₹ 60,655
2022-06-19₹ 61.60₹ 60,603
2022-06-17₹ 61.15₹ 61,149
2022-06-16₹ 61.68₹ 60,677
2022-06-14₹ 59.21₹ 59,211
2022-06-13₹ 61.84₹ 60,838
2022-06-12₹ 61.36₹ 61,359
2022-06-11₹ 61.36₹ 61,360
2022-06-10₹ 60.45₹ 60,449
2022-06-09₹ 62.62₹ 61,627
2022-06-08₹ 62.95₹ 61,948
2022-06-07₹ 62.58₹ 61,583
2022-06-06₹ 61.06₹ 61,060
2022-06-05₹ 61.09₹ 61,091
2022-06-04₹ 61.09₹ 61,092
2022-06-03₹ 62.29₹ 62,290
2022-06-02₹ 61.62₹ 60,619
2022-06-01₹ 60.15₹ 60,145
2022-05-31₹ 61.03₹ 61,030
2022-05-30₹ 61.42₹ 61,418
2022-05-29₹ 62.61₹ 61,608
2022-05-28₹ 62.61₹ 61,608
2022-05-27₹ 61.12₹ 61,125
2022-05-26₹ 61.09₹ 61,091
2022-05-25₹ 61.38₹ 61,378
2022-05-24₹ 60.42₹ 60,417
2022-05-23₹ 61.30₹ 61,302
2022-05-22₹ 61.69₹ 60,688
2022-05-21₹ 61.69₹ 60,688
2022-05-20₹ 61.81₹ 60,809
2022-05-19₹ 60.62₹ 59,619
2022-05-18₹ 60.11₹ 60,107
2022-05-17₹ 60.26₹ 60,264
2022-05-16₹ 59.92₹ 58,918
2022-05-15₹ 59.65₹ 58,651
2022-05-14₹ 59.65₹ 58,651
2022-05-13₹ 58.63₹ 57,627
2022-05-12₹ 60.85₹ 59,854
2022-05-11₹ 59.93₹ 58,929
2022-05-10₹ 61.53₹ 60,533
2022-05-09₹ 62.50₹ 61,506
2022-05-08₹ 62.69₹ 61,696
2022-05-07₹ 62.69₹ 61,696
2022-05-06₹ 62.68₹ 61,680
2022-05-05₹ 63.70₹ 62,701
2022-05-04₹ 62.96₹ 61,957
2022-05-03₹ 62.41₹ 62,407
2022-05-02₹ 62.23₹ 62,230
2022-05-01₹ 64.46₹ 64,466
2022-04-30₹ 64.46₹ 64,466
2022-04-29₹ 65.54₹ 64,547
2022-04-28₹ 64.44₹ 64,448
2022-04-27₹ 65.84₹ 64,846
2022-04-26₹ 65.01₹ 65,012
2022-04-25₹ 66.14₹ 66,136
2022-04-24₹ 66.24₹ 66,239
2022-04-23₹ 66.24₹ 66,238
2022-04-22₹ 67.60₹ 66,594
2022-04-21₹ 69.79₹ 68,786
2022-04-20₹ 69.89₹ 68,892
2022-04-19₹ 71.61₹ 70,608
2022-04-18₹ 71.72₹ 70,722
2022-04-17₹ 70.24₹ 70,243
2022-04-16₹ 70.24₹ 70,243
2022-04-15₹ 70.21₹ 70,209
2022-04-14₹ 70.06₹ 70,063
2022-04-13₹ 69.29₹ 69,287
2022-04-11₹ 68.50₹ 67,496
2022-04-10₹ 67.45₹ 67,451
2022-04-09₹ 67.45₹ 67,451
2022-04-08₹ 67.99₹ 66,988
2022-04-07₹ 66.38₹ 66,371
2022-04-06₹ 66.81₹ 65,811
2022-04-05₹ 66.36₹ 66,359
2022-04-04₹ 67.17₹ 67,162
2022-04-03₹ 67.05₹ 67,050
2022-04-02₹ 67.05₹ 67,049
2022-04-01₹ 68.51₹ 67,505
2022-03-31₹ 67.44₹ 67,436
2022-03-30₹ 67.12₹ 67,122
2022-03-29₹ 68.85₹ 67,844
2022-03-28₹ 70.67₹ 69,666
2022-03-27₹ 70.79₹ 69,791
2022-03-26₹ 70.79₹ 69,792
2022-03-25₹ 70.82₹ 69,817
2022-03-24₹ 69.10₹ 69,102

Historical Price of Silver Rate In Nagaland

Trend of Silver Rate in Nagaland for June 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
June 1st Rate59.3459,342
June 26th Rate60.1560,145
Highest June Rate62.2962,290
Lowest June Rate59.8858,880

Trend of Silver Rate in Nagaland for May 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate61.0361,030
May 31th Rate64.4664,466
Highest May Rate64.4664,466
Lowest May Rate58.6357,627

Trend of Silver Rate in Nagaland for April 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate64.4664,466
April 30th Rate68.5167,505
Highest April Rate71.7270,722
Lowest April Rate64.4464,448

Trend of Silver Rate in Nagaland for March 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate67.4467,436
March 31th Rate66.0666,058
Highest March Rate73.6172,614
Lowest March Rate66.0666,058

Trend of Silver Rate in Nagaland for February 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate66.8265,820
February 28th Rate60.0960,091
Highest February Rate66.9665,954
Lowest February Rate60.0560,051

Introduction

Silver holds a key place of importance among Indians, along with gold and other precious metals and stones. Silver and gold can be purchased or used for ornamental purposes, ritualistic purposes. It also makes for excellent gifts for friends and family. Silver also has industrial and commercial uses.

When compared with gold, silver reserves are available abundantly. The lower price point of silver when compared with gold makes it a more favourable choice. Hence, it’s rightly known as “poor man’s gold.” It is also available abundantly along with being priced lower as compared to gold. Hence silver is thus considered as a very important resource which can be used as an investment tool as well other than for personal use.

The various details associated with silver like its rate in Nagaland as well as factors associated with purchase of silver, its purity or factors affecting the prices of silver are discussed in depth hereunder.

Rate of Silver in Nagaland

Nagaland has a rich culture and deep rooted traditions. Therefore, there is huge local demand for the metal which is a driving force for its prices. Nagaland is a part of the seven North Eastern states that enjoy a special status in India when it comes to investment or government assistance through various schemes, etc. Silver rates in this state along with elsewhere in the country are constantly changing and have to be tracked thoroughly to get the best rates.

Factors Affecting Silver Prices in Nagaland

As mentioned above, demand for silver is the driving force for its prices like any other product. Apart from demand, there are many other products that affect the prices of silver in Nagaland. Some of such factors are highlighted below.

Demand for Silver

One of the most crucial factors affecting the process of silver is its demand. Such demand for silver has to be considered in the cumulative form i.e. for all its purposes. All

The forms of silver available in the market has to be considered to determine the demand and thereby its prices. These forms of silver are

  • Coins
  • Bars
  • Household items
  • Jewellery

When demand for silver is considered in its retail/personal form it is in smaller quantities. When demand for silver is considered in case of commercial and industrial reasons is always in bulk.

Inflation

Inflation rate is crucial to determine the silver prices. Inflation rate is directly proportional to the prices of silver. Any increase in inflation of a country will lead to direct increase in the prices of silver.

Gold Prices

Gold prices have a huge influence on the silver prices and usually pull it in a similar pattern or trend. If the gold rates are on an increasing trend, silver rates will follow the same pattern. Silver rates will be pulled in the increasing or decreasing trend along with Gold prices. Gold and silver are also traded in the commodity market and have been on the increasing trend for many months. It is believed that the Covid-19 pandemic is one of the main reasons for increase in silver prices in the last few months, as it is seen as a stable investment.

Ancillary or Associated Costs

Ancillary costs or associated costs are at many stages of procuring and processing silver like the costs that are involved in extracting or assembling the metal or refining it as well as storing it. Some of the costs involved are mining cost, import costs, storage costs, warehousing costs, marking costs, etc. These costs directly impact the prices of silver.

External factors

External factors that influence the rates of silver are not directly related to the metal yet impact its prices. These factors affecting silver rate are multifold or in the nature of macro economics. Some examples of such external factors are mentioned below

  • Dollar Fluctuations
  • Government Policies
  • Geo-political scenario
  • Import and Export Policies
  • Crude Prices

Interpreting Purity of Silver

Silver comes in many levels of purity and grades. The prices of silver are also impacted on the basis of its purity. The measure of purity of silver is in terms of percentage and the highest level of purity that is associated or allotted to silver is 99.9% or 9999 mark.

Silver is usually combined with other metals or alloys like copper, nickel to ensure that forms of silver like coins or jewellery do not deteriorate over time. As these metals reduce the purity of silver, buyers can perform certain tests to check the purity of the metal and thereby the prices of the same. Such test can be performed on diver in any form and hence buyers can be assured that they are not cheated of their funds.

Some of these tests are very basic and can provide instant results or judgment on purity. The details of the same are mentioned below.

Ice Test

In this test, buyers have to place an ice cube on the metal to be tested. If the ice melts too fast, the silver is considered to be pure and vice versa.

Magnet Test

Magnet test is where the buyer will run a magnet over the metal. If the metal to be tested gets attracted to the magnet, then the metal is not considered to be pure and has certain impurities or is combined with other metals.

Stink Test

Stink test requires the buyer to check the odor of the metal. Silver has no odor so if the metal to be tested has any odor in it, such metal will not be considered to be pure.

FAQs - Silver Rate in Nagaland

1. Where can a person trade in silver?

Silver can be traded as a commodity through the futures market or commodity market or the ETFs. India does not have any ETF markets so customers can trade in silver through ETF in the US market or MCX and NCDEX. The lot size of silver contracts on these platforms is of 1 kg bars each. These contracts are not spot contracts so are not delivered immediately.

2. What is the importance of certification or markings on silver?

Markings and authorized certification on silver ensures the buyer and the seller of the purity and genuineness of the trade and the metal to be transacted. It thus becomes easy to buy or sell silver that has all the necessary markings and certifications.

3. What is the highest purity of silver?

The highest purity of silver that is available in the market is 9999 fineness. It certifies that the silver is the purest i.e., 99.9% pure.

4. What are the various considerations to be accounted for in purchasing silver?

The various considerations to be accounted for while purchasing silver are mentioned below.

  • Form of silver to be purchased
  • Source of purchase
  • Current rates of silver
  • Ensuring proper certification and markings on silver

5. Are silver prices lower or higher than gold?

Silver prices are always lower than that of gold. Customers can get almost 1 kg of silver in the price for 10grams of gold.

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