*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Silver Rate in Goa
Silver is easily bought and sold anywhere across the world owing to its intrinsic value. Silver’s store of value makes it a safe form of investment. The white precious metal adds stability in addition to diversifying the investment portfolios of customers. Many consumers prefer investing in silver since the precious metal can be easily sold during periods of extreme economic instability.
Silver rate in Goa depends on various national and international factors. Silver is viewed as a hedge against overall inflation. Many investors in Goa view the white precious metal as a surrogate for the yellow metal, during periods when they are restrictions on the gold trade. Silver is widely sold in various forms such as silverware and trendy jewellery among others.
- Also Know: Gold Rate In Goa
Details of Silver Price in Goa (1 Kg) - Till November 2015
The price of 1 kg of silver in Goa was pegged at Rs.35,534. The price of silver has been plummeting barring minor fluctuations from the start of the year when it was pegged at Rs.40079 in January. The price of silver fell by -2.8% to Rs.38936 in February. The downward slide continued in the months of March when the price of the precious metal fell by -2.2% to Rs.38025. The price of silver stabilised in the middle of April at Rs.38360. The month of May witnessed a mini rally in that the price of the white precious metal rose by 5.5% to Rs.40484. The price of silver, however, plummeted by -5.14% to Rs.38,400 in June. The slide continued in the following month of August and September at Rs.36061 and Rs.36028 respectively. 1 kg of silver was pegged at Rs.35455 in November.
Silver as an investment in Goa
Customers buy silver bars (100g, 500g or 1kg) in addition to coins. Investors can also trade in e-Silver at National Spot Exchange Limited (NSEL) where they can open an account and opt for physical delivery. Investment can also consider investing in Milestone Bullion Series1.
Physical silver: For many customers, one of the simplest ways of investing in silver is to buy it the form of bars and coins available in standard denominations across various stores in Goa. Various kinds of jewellery from necklaces and bracelets to rings and other traditional items are also sold.
Silver contracts: Investors can trade in top commodity exchanges such as MCX and NCDEX. Silver futures can be traded in 1 kg, 5 kg or any combination. Several charges such as exchange levy and stamp duty should be borne by customers.
- Also Check: Silver Rate in Panaji
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News About Silver Rate in Goa
Gold demand rises on the back of negative interest rates
Japan experienced a rise in sale of gold all through the month of March following the country setting negative interest rates. Japan’s biggest bullion retailer, Tanaka Kikinzoku Kogyo K.K. stated that gold bar sales rose by 35 per cent to 8,192 kilograms at the end of March. Overall gold sales rose by 16 per cent since the turn of the year, representing the precious metal’s best quarter in over three decades. The upturn in fortunes for gold is largely due to the Federal Reserve putting off plans to further increase interest rates.
15th April 2016