Silver Rate in Panaji
Panaji, the capital of the vacationer capital of India, Goa is a city not at all like others, loaded with culture and old-world appeal. The city was the passage for dealers into India before, filling in as a critical connection in worldwide exchange.
Silver was utilized broadly to pay for such exchange, with the Arabs, Dutch, Portuguese, and British attempting to set up base here. Today, the city keeps on being a significant objective, pulling in guests from everywhere around the globe. Silver rate in Panaji are controlled by considering worldwide expenses since a lion’s share of the silver burned-through here is imported.
Silver Rate In Panaji (Today & Yesterday)
| Today | Yesterday | Rate Change | |
| Silver (1 gram) | ₹ 71.70 | ₹ 71.40 | ₹ 0.3 ↑ |
| Bar Silver (1 Kg) | ₹ 71,700 | ₹ 71,400 | ₹ 300 ↑ |
Silver Rate In Panaji For Last 10 Days
| Date | Silver (1 gram) | Bar Silver (1 Kg) |
| 11 Mar 2021 | ₹ 71.70 | ₹ 71,700 |
| 10 Mar 2021 | ₹ 71.40 | ₹ 71,400 |
| 09 Mar 2021 | ₹ 70.20 | ₹ 70,200 |
| 08 Mar 2021 | ₹ 71 | ₹ 71,000 |
| 07 Mar 2021 | ₹ 70.10 | ₹ 70,100 |
| 06 Mar 2021 | ₹ 70.10 | ₹ 70,100 |
| 05 Mar 2021 | ₹ 69.80 | ₹ 69,800 |
| 04 Mar 2021 | ₹ 71.60 | ₹ 71,600 |
| 03 Mar 2021 | ₹ 73 | ₹ 73,000 |
| 02 Mar 2021 | ₹ 72 | ₹ 72,000 |
Trend of Silver Rate in Panaji for February 2021 (rates per kg)
| Parameters | Silver Rate (per kg) |
| February 1 Rate | Rs.78,100 per kg |
| February 28 Rate | Rs.67,500 per kg |
| Highest Rate in February | Rs.78,100 per kg on 1 February |
| Lowest Rate in February | Rs.67,300 per kg on 5 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -13.57% |
Trend of Silver Rate in Panaji for January 2021 (rates per kg)
| Parameters | Silver rate (per kg) |
| January 1 Rate | Rs.72,000 per kg |
| January 31 Rate | Rs.69,800 per kg |
| Highest Rate in January | Rs.74,500 per kg on 8 January |
| Lowest Rate in January | Rs.63,900 per kg on 9 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.05% |
Trend of Silver Rate in Panaji for December 2020 (rates per kg)
| Parameters | Silver rate (per kg) |
| December 1 Rate | Rs.64,600 per kg |
| December 31 Rate | Rs.72,300 per kg |
| Highest Rate in December | Rs.74,100 per kg on 21 December |
| Lowest Rate in December | Rs.63,400 per kg on 10 December |
| Overall Monthly Performance | Incline |
| Percentage Change | 11.91% |
Trend of Silver Rate in Panaji for November 2020 (rates per kg)
| Parameters | Silver rate (per kg) |
| November 1 Rate | Rs.60,100 per kg |
| November 30 Rate | Rs.64,700 per kg |
| Highest Rate in November | Rs.67,700 per kg on 18 November |
| Lowest Rate in November | Rs.60,100 per kg on 1 November |
| Overall Monthly Performance | Incline |
| Percentage Change | 7.65% |
Trend of Silver Rate in Panaji for October 2020 (rates per kg)
| Parameters | Silver rate (per kg) |
| October 1 Rate | Rs.60,700 per kg |
| October 31 Rate | Rs.61,000 per kg |
| Highest Rate in October | Rs.63,500 per kg on 21 October |
| Lowest Rate in October | Rs.60,210 per kg on 8 October |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.49% |
Trend of Silver Rate in Panaji for September 2020 (rates per kg)
| Parameters | Silver rate (per kg) |
| September 1 Rate | Rs.76,500 per kg |
| September 30 Rate | Rs.62,500 per kg |
| Highest Rate in September | Rs.76,500 per kg on 1 September |
| Lowest Rate in September | Rs.58,500 per kg on 24 September |
| Overall Monthly Performance | Decline |
| Percentage Change | -18.30% |
How to trade Silver in Panaji
National Spot Exchange (NSEL) has E-arrangement items like E-Gold and E-Silver, wherein individuals can exchange or put resources into silver actually as they do disparities. The exchanging long stretches of NSEL are from 10 AM to 11:30 PM.
Financial backers can purchase at least 1 unit of silver comparable to 100 grams of silver in Demat structure at constant Indian costs, which tracks the worldwide gold/silver costs. To exchange NSEL, financial backers need to open a different Demat account with any of the safes.
The name of the storehouses is can be found on the NSEL site. After opening a Demat account, the financial backer can purchase silver in a dematerialized structure on the web. The unit of e-arrangement is 100 gm for silver. Financial backers can change over their e-Silver into actual silver or money by exchanging NSEL.
5 Good Reasons to Invest in Silver 
The answer to the question of investing in silver is yes. You should be investing in silver and here are 5 reasons that will show you just why it can be a good idea for investment.
Demand is Always Around
Silver being a precious metal is always in demand from the jewelry markets, especially in India. The demand is also being generated by industrial sectors that require silver for production and this demand far outweighs the demand by any other sector. This means that silver is something people need and what is in demand is worth investing in.
Supply vs Demand
While there is a large and ever-growing demand for silver being led by nations like India and China, the fact is that the availability of silver is dropping as demands rise and silver found above ground reduces. This means that at some time in the future it will become tough to come by silver and the rate may be driven up the limited supply thus putting long-term investors in a very good financial position.
Timing the Markets
There are ways in which the silver markets can be predicted. Some of the most basic ways to time the market would be to wait for the wedding season or a festival to come around. The demand for both silver and gold goes up.
No Bank Accounts
You might find it hard to believe but a portion of India’s population is not in the system when it comes to banking and taxation. This makes it difficult for them to invest in a lot of instruments available and for them, one of the places to invest in is buying and selling silver because it can be bought and sold without too much of a hassle.
Cheaper than Gold
Silver is easier to acquire since it is cheaper than gold. Not everyone can hope to be able to buy sizable quantities of gold but when it comes to silver, it can be bought in bigger quantities because it’s cheaper. For example Rs. 36,215 (rate as of 25 September 2015. Subject to change) could buy you 1 kg of silver but the same amount will only get you only a bit over 10 grams of gold.
Also, check the Gold rate in Panaji.
Things to Remember Before Buying Silver Jewellery in Panaji
Purity Of Silver
Just like gold, one can also buy hallmarked silver. The Bureau of Indian Standards (BIS) hallmarks silver articles as well. Yash Punamiya, Owner of Kundan Jewellers says, “According to BIS rules, there are four signs that one must look for while buying a hallmarked silver article. However, hallmarking of silver and gold jewelry is a voluntary process. If the jeweler is offering you a non-hallmarked article, you can request him to get it hallmarked. Hallmarking of silver articles provides valid proof of the purity of silver article.” The four signs are as follows:
• BIS logo
• Purity grade/fineness
• Hallmarking center’s identification mark/number
• Jeweller’s identification mark/number
Making Charges
While buying silver jewelry, we usually take the rate quoted by the jeweler at face value. However, you must ask the jeweler what is the rate of silver prevailing in the market and what are the making charges being charged by him for the article you want to buy. Punamiya says, “Usually making charges for the silver article starts from Rs 3 per gram with no maximum limit. However, making charges for silver articles are on the lower side as compared to the charges for gold jewelry.”
Check For The Buy-Back Policy
Many people sell old silver or gold jewelry to buy a new one. While buying new silver jewelry or utensils, ask the jeweler about the buy-back policy. How much money will you get if you decide to sell the article purchased on a future date back to the same jeweler? For instance, if you have bought silver jewelry of 925 grade then at the time of selling your jeweler will pay you only for 92.5 percent of silver. Therefore, you should know the various charges that will be taken into account in calculating the sale rate of your jewelry.
Gemstones On Silver Jewellery
Sometimes silver jewelry has gemstones embedded in it. You must make sure that your jeweler has not rated the weight of these gemstones at the rate of silver.
German Silver
Nowadays, apart from silver one can also buy something called German silver. However, one must not confuse German silver with sterling silver or even silver. Punamiya says, “There is a difference between sterling silver and German silver. Sterling silver is actually made up of pure silver and other alloys which is hallmarked by BIS. On the other hand, German silver is any metal such as copper or brass which has silver polish. This is not BIS hallmarked.”
Also, check the silver rates in other cities.
FAQs about Silver Rate in Panaji
✅ Why buying silver is a bad idea?
The main dangers of investing in silver are that you could physically lose items like silver coins and bars and that the value can decline with changes in the market.
✅ How do I buy real silver?
The clearest way to invest in silver is to go out and actually buy the physical metal. Bullion silver is available in coin and bar form, and most coin dealers and precious metals dealers will offer silver bullion in various sizes and formats.
✅ How can I buy silver in India?
How can you invest in silver in India? Either you can buy silver jewellery or can trade in e-silver through National Spot Exchange Limited or NSEL. You can also get silver ETFs from trading accounts.