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Today Silver Rates In Nagaland

17 Jan 2021

gold rate

₹64.96

( Per Gram )

gold rate

₹64964

1 Kg

TodayYesterdayChange(%)
1 gram64.9664.950.02%
10 gram64964649560.01%

Silver Rates In Nagaland for Last 90 Days

17 Jan 2021

Date1 gramBar Silver 1KG
2021-01-1765.9664,964
2021-01-1665.9564,956
2021-01-1567.2267,218
2021-01-1467.7366,732
2021-01-1367.9366,926
2021-01-1266.0366,027
2021-01-1167.9066,894
2021-01-1067.9066,894
2021-01-0966.6365,624
2021-01-0872.6771,667
2021-01-0771.0671,062
2021-01-0672.2672,257
2021-01-0571.1871,176
2021-01-0469.1569,149
2021-01-0369.1569,149
2021-01-0269.1569,149
2021-01-0169.9268,922
2020-12-3170.5169,512
2020-12-3069.7868,778
2020-12-2969.4469,436
2020-12-2868.3668,356
2020-12-2768.0968,087
2020-12-2668.0968,087
2020-12-2568.1168,109
2020-12-2468.0868,075
2020-12-2367.8266,816
2020-12-2269.3569,345
2020-12-2168.1068,102
2020-12-2068.1068,102
2020-12-1968.1268,116
2020-12-1868.4568,449
2020-12-1766.9765,964
2020-12-1665.5764,578
2020-12-1563.0763,078
2020-12-1463.3263,322
2020-12-1363.3263,322
2020-12-1263.4363,432
2020-12-1163.3463,342
2020-12-1063.6662,661
2020-12-0965.1465,133
2020-12-0865.0965,086
2020-12-0764.0264,022
2020-12-0664.0264,022
2020-12-0564.8763,879
2020-12-0463.4763,474
2020-12-0363.4463,447
2020-12-0263.1063,105
2020-12-0160.8559,848
2020-11-3058.3658,356
2020-11-0364.9163,909
2020-11-0263.7362,734
2020-11-0163.2663,258
2020-10-3163.2263,220
2020-10-3062.2362,232
2020-10-2962.2062,202
2020-10-2865.6464,647
2020-10-2764.4964,494
2020-10-2665.1265,112
2020-10-2565.1265,112
2020-10-2465.0265,028
2020-10-2365.1965,183
2020-10-2266.1166,106
2020-10-2165.3365,323
2020-10-2064.8063,799
2020-10-1964.6163,610
2020-10-1864.6163,610
2020-10-1764.8563,855
2020-10-1664.6863,688
2020-10-1564.8463,846
2020-10-1464.5863,588
2020-10-1366.0666,056
2020-10-1266.7965,781
2020-10-1166.7965,781
2020-10-1066.5165,510
2020-10-0963.7562,755
2020-10-0863.5162,513
2020-10-0762.3862,383
2020-10-0664.9063,903
2020-10-0562.3262,321
2020-10-0462.3262,321
2020-10-0363.6562,653
2020-10-0263.9462,945
2020-10-0162.6761,669
2020-09-3064.2664,264
2020-09-2963.5662,563
2020-09-2861.5060,501
2020-09-2761.5060,501
2020-09-2661.9560,949
2020-09-2561.6360,630
2020-09-2460.2160,209

Historical Price of Silver Rate In Nagaland

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

Silver Rates1 gram1 Kg
October 1st Rate63.2263,220
October 31th Rate62.6761,669
Highest October Rate66.1166,106
Lowest October Rate62.6761,669

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

Silver Rates1 gram1 Kg
November 1st Rate58.3658,356
November 30th Rate63.2663,258
Highest November Rate64.9163,909
Lowest November Rate58.3658,356

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

Silver Rates1 gram1 Kg
December 1st Rate70.5169,512
December 31th Rate60.8559,848
Highest December Rate70.5169,512
Lowest December Rate60.8559,848

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

Silver Rates1 gram1 Kg
January 1st Rate65.9664,964
January 17th Rate69.9268,922
Highest January Rate72.2672,257
Lowest January Rate65.9564,956

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

Silver Rates1 gram1 Kg
September 1st Rate64.2664,264
September 30th Rate74.4674,464
Highest September Rate74.4674,464
Lowest September Rate60.2160,209

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

Silver Rates1 gram1 Kg
August 1st Rate73.4573,455
August 31th Rate66.5465,535
Highest August Rate78.1878,183
Lowest August Rate65.2765,266

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

Silver Rates1 gram1 Kg
July 1st Rate63.2863,287
July 31th Rate49.3149,314
Highest July Rate70.5569,551
Lowest July Rate48.1848,178

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

Silver Rates1 gram1 Kg
June 25th Rate48.3748,365
June 30th Rate48.6647,653
Highest June Rate48.3748,365
Lowest June Rate48.6647,653

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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