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Today Silver Rates In Nagaland

21 Jun 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 Nagaland for Last 90 Days

21 Jun 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 Nagaland

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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